The Medicare Supplemental Work Group sent answers concerning questions regarding the work group’s recommendations on modifications to the Medicare supplement refund formula. (November 10, 2015)
The ERM/ORSA Committee submitted comments to the International Actuarial Association (IAA) on its white paper "Actuarial Aspects of ERM for Insurance Companies." (November 20, 2015)
Academy Senior Property/Casualty Fellow Jim MacGinnitie testified at the National Association of Insurance Commissioners’ (NAIC) public hearing on "The Pricing of Automobile Insurance." (November 19, 2015)
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue, simplified issue and preneed to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 17, 2015)
The Deposit Fund Subgroup submitted comments to the Life Actuarial Task Force on rules for separate accounts that fund guaranteed minimum benefits under group contracts related to the synthetic GIC model regulation. (November 16, 2015)
The Nonforfeiture Modernization Working Group (NMWG) made a presentation on the gross premium nonforfeiture method to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Academy and the Canadian Institute of Actuaries (CIA) have released a Frequently Asked Questions (FAQs) document that reflects our common understanding of how the long standing Cross Border Discipline Agreement (Agreement) works in both the U.S. and Canada. While the Agreement has rarely been used, we want to anticipate and address common questions from the joint perspective of our two national associations. You can find the Cross-Border Agreement here and the FAQs and their answers here. (November 12, 2015)
The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015)
The Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here. (November 11, 2015)