Life Financial Soundness/Risk Management Committee made a presentation to NAIC’s Life Actuarial Task Force on whether the direct iteration approach for the deterministic reserve results in the same amount as the gross premium valuation approach currently required by VM-20. ()
Nonforfeiture Modernization Work Group updated the NAIC’s Life Actuarial Task Force on the treatment of GLWBs in fixed deferred annuities under the proposed GPNM nonforfeiture approach. (December 13, 2013)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (December 13, 2013)
Life Financial Soundness / Risk Management Committee provided a response to the NAIC’s Life Actuarial Task Force regarding questions from the New York Insurance Department on Academy’s proposal for treatment of due premiums. (December 13, 2013)
Annuity Reserves Work Group provided an update to NAIC’s Life Actuaries Nonforfeiture Group’s VM-22 Subgroup on efforts towards development of appropriate utilization assumptions for Guaranteed Lifetime Income Benefits (GLIBs) in the floor reserve calculation. (December 13, 2013)
Read about a Health Practice Council (HPC) letter to members of Congress on the Affordable Care Act (ACA) and news coverage related to the Academy’s input, Academy presentations at NCOIL, a webinar on a Medicaid case study in Oregon, a new HPC fact sheet on the three risk-sharing mechanisms in the ACA, proposed rules relating to the ACA, and Academy work and experts in the news. (December 11, 2013)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (December 06, 2013)
The Solvency Committee submitted comments to the National Association of Insurance Commissioners on the International Association of Insurance Supervisors’ paper, Common Framework for the Supervision of Internationally Active Insurance Groups. (December 04, 2013)
The Solvency Committee submitted comments to the International Actuarial Association on the International Association of Insurance Supervisors’ paper, Common Framework for the Supervision of Internationally Active Insurance Groups. (November 22, 2013)
The Rate Review Practice Note Work Group submitted technical comments to the Center for Consumer Information and Insurance Oversight (CCIIO) on the current versions of the Unified Rate Review Template and the actuarial memorandum instructions. (December 04, 2013)
Are you wondering how key global and domestic stakeholders responded to the insurance contracts accounting exposure drafts and where international accounting is headed? Find out Jan. 2 as the Academy hosts a webinar during which presenters will provide a discussion of the Academy’s comments on key issues in the IASB and FASB exposure drafts on insurance contracts; an overview of concepts and concerns from globally influential bodies on those exposure drafts; and, a look at the direction of global convergence. (December 04, 2013)
The Health Practice Council published a new fact sheet that provides an overview of the three risk-sharing mechanisms included in the Affordable Care Act (ACA) - the permanent risk adjustment program, temporary risk corridors, and the transitional reinsurance program. (December 04, 2013)
Read about events at the Academy’s Nov. 4 annual meeting in Minneapolis; media responses to Academy comments on delaying ACA implementation; Academy professionalism activity; new health and pension issue briefs; Academy seminars on loss reserve and life and health qualifications; and Academy-sponsored webinars on PBR, financial reporting and ACA, enterprise risk management, Code of Professional Conduct, and regulatory environments. (November 25, 2013)
The Academy was a significant presence at the National Conference of Insurance Legislators (NCOIL) annual meeting Nov. 21-24 in Nashville, TN. Senior Life Fellow Nancy Bennett, Chairperson of the Rate Review Practice Note Work Group Audrey Halvorson, Risk Management and Financial Reporting Council Vice President William Hines, and Health Care Costs Work Group member Susan Pantely, all made presentations directly to legislators at the meeting. Log in to read the full member alert. (November 25, 2013)
Susan Pantely, who chairs the Academy's Models of Care Delivery Subgroup, gave a presentation on behalf of the Academy to the National Conference of Insurance Legislators on new models of care delivery. (November 24, 2013)
