Comment letter from the Casualty Practice Council, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 41, Actuarial Communications. (November 01, 2022)
The Academy’s C-2 Mortality Work Group submitted to the Life Risk-Based Capital (E) Working Group for its consideration for adoption a proposed supplement to the instructions for the National Association of Insurance Commissioners’ newly adopted C-2 Mortality Factors to address implementation and application questions. (October 21, 2022)
Members of the Pension, Multiemployer, and Public Plans Committees published a discussion brief intended to familiarize actuaries with commonly used approaches and considerations when dealing with augmented mortality assumptions. (October 14, 2022)
The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capital Work Group, and Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR. (October 14, 2022)
The Academy’s Life Experience Committee released a discussion brief on the impacts of inflation, interest rates, stock market volatility, and potential recession on life insurance business. (October 14, 2022)
The Data Science and Analytics Committee (DSAC) released an issue brief, Big Data and Algorithms in Actuarial Modeling and Consumer Impacts. It outlines big data issues confronting actuaries and initiates discussion on how big data and artificial intelligence impact the consumer insurance experience, and covers how insurers and regulators can collaborate to resolve potential issues. The issue brief follows an issue paper of the same name released in November 2021. (October 14, 2022)
The Academy’s Life Experience Committee submitted a Discussion Brief to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force regarding COVID-19 in Life Insurance Mortality Improvement. (May 23, 2022)
It’s time once again to make sure you are on track to complete your continuing education (CE) requirements by the end of the year. Because 2023 is the first year for which actuaries must meet the recently revised Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS), it’s worth taking a closer look at the requirements. (September 30, 2022)
Comment letter from the Casualty Practice Council, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 20, Discounting of Property/Casualty Unpaid Claim Estimates. (September 30, 2022)
Comment letter from the Committee on Property and Liability Financial Reporting, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves. (September 29, 2022)
The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capital Work Group, and Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR. (September 29, 2022)
The Academy’s Economic Scenario Generator Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force Subgroup on Economic Scenario Generator (ESG) Stylized Facts for Equities. (September 27, 2022)
The Academy’s Index-Linked Variable Annuity Work Group submitted comments to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup on its fifth exposure draft of the proposed Actuarial Guideline ILVA, Nonforfeiture Requirements for Index Linked Variable Annuity Products. (September 16, 2022)
The Medicaid Committee released a public policy issue brief providing an overview of Medicaid managed care state-directed payments. The brief discusses: how these payments have evolved from supplemental and pass-through payments; recent changes to federal guidance governing them; and recommendations from the Medicaid and CHIP Payment and Access Commission (MACPAC). (September 16, 2022)
The Academy's Lifetime Income Risk Joint Committee released an issue brief that that provides a discussion of a variety of approaches for adding annuity options to defined contribution (DC) plans providing for insured lifetime income that begins immediately, is deferred, or is provided under an accumulation product that converts funds to lifetime income. (August 31, 2022)