The Risk Management and Financial Reporting Council (RMFRC) submitted comments to the Actuarial Standards Board (ASB) on its Capital Adequacy Assessment for Insurers discussion draft. (July 21, 2015)

The Lifetime Income Risk Task Force submitted comments to the Department of Labor regarding the proposed regulations defining fiduciaries and conflict of interest. (July 20, 2015)

Two Academy representatives addressed state officials at the National Conference of Insurance Legislators (NCOIL) Summer Meeting. Shawna Ackerman, vice president for casualty, presented on price optimization during a special Property-Casualty Committee meeting. Academy Senior Life Fellow Nancy Bennett discussed principle-based reserving (PBR) at a Life Insurance & Financial Planning Committee panel discussion at NCOIL’s meeting. (July 17, 2015)

The Pension Committee submitted comments to the IRS regarding the timing for release of the mortality tables under §§430(h)(3) and 417(e) of the Internal Revenue Code for 2016. (July 17, 2015)

The Academy released a new Essential Elements paper, Insurance Capital Standards, that outlines U.S. and international efforts to establish new solvency and capital standards for insurers. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences. (July 16, 2015)

The Risk Management and Financial Reporting Council sent a letter to the Federal Reserve Board on issues related to a “margin over current estimate” (MOCE) for international insurance capital standards. (July 14, 2015)

In the July issue of HealthCheck, read the Academy’s statement following the Supreme Court’s King v. Burwell decision last month that ruled Affordable Care Act (ACA) subsidies are available to individuals in states participating in the federally facilitated marketplace. Also, follow some of the widespread media coverage of the Academy in the run-up and aftermath of King v. Burwell, read a new Academy issue brief examining wellness initiatives in several countries, and see several Medicare-related bills that were passed by the U.S. House of Representatives. (July 09, 2015)

The Academy's Health Practice International Committee released an issue brief exploring current wellness initiatives, highlighting four international case studies. (July 06, 2015)

The Terrorism Risk Insurance Subcommittee submitted a comment letter to the NAIC on its “Terrorism Risk Insurance Supplement and Instructions” draft. (July 06, 2015)

The Academy released its new PBA Perspectives, a quarterly update on regulatory, legislative, and Academy activities surrounding the implementation of the Principle-Based Approach (PBA) for life insurance. (July 02, 2015)

The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) on the second exposure of its “Price Optimization White Paper.” (July 02, 2015)

The June issue of Actuarial Update leads with a story on the Academy’s 50th anniversary celebration – registration is now open. Other topics covered this month include the Academy’s new Task Force on Aging, a call for nomination for regular director positions, and a spotlight on the Academy’s professionalism outreach. (July 01, 2015)