Panelists Nancy Behrens and Janet Fagan, vice chairpersons of the Actuarial Board for Counseling and Discipline (ABCD), discuss professionalism topics covered in recent “Up to Code” articles in Contingencies magazine. The discussion includes particulars and case studies of Precept 2 of the Code of Professional Conduct, the pros and limitations of peer review in connection with actuarial work, and ABCD considerations in balancing transparency with confidentiality. (December 03, 2013)
New Academy President Tom Terry announced the release of The Record, which highlights the Academy’s 2013 mission-critical achievements. Terry also announced that membership dues will remain the same for a third year in a row. (November 07, 2013)
The Academy’s 2013 Annual Meeting and Awards Luncheon was held on Nov. 4 in conjunction with the 2013 CAS Annual Meeting. After the very popular keynote address from Stephen J. Dubner, Cecil Bykerk and Tom Terry addressed the audience: 2013 Academy President Cecil Bykerk’s Farewell Address and 2014 Academy President Tom Terry’s Inaugural Speech. Full coverage of the event will be in the next issue of the Actuarial Update later this month. (November 07, 2013)
The State Long-Term Care Task Force submitted a comment letter to the NAIC's Long-Term Care Valuation Subgroup regarding proposed changes to the NAIC's Health Insurance Reserves Model Regulation. (November 06, 2013)
Joint Committee on Retiree Health, Pension Committee, and Pension Finance Task Force sent a letter to the Actuarial Standards Board (ASB) on coordinating Actuarial Standards of Practice (ASOPs) involving retirement benefits. (October 29, 2013)
The Health Practice Council sent a letter to members of Congress outlining potential adverse consequences of delaying the Affordable Care Act's (ACA) individual mandate and/or extending its open enrollment period. Read the news release. (November 05, 2013)
The Academy sent a letter to the NAIC endorsing the Committee on Qualifications’ interim response to the Society of Actuaries’ request for modification to the U.S. Qualification Standards and reiterating its commitment to work with the NAIC to ensure confidence in the definition of a "qualified" actuary to sign actuarial opinions. (November 05, 2013)
The American Academy of Actuaries announced the beginning of the terms of the four regular director members elected by its members in online balloting this past summer: Albert Beer, Thomas Campbell, Audrey Halvorson, and Annie Voldman. Read the news release. (November 04, 2013)
The American Academy of Actuaries honored five of its volunteers, Anne Button, Audrey Halvorson, Geoffrey Hancock, David Ingram, and Joeff Williams, with the 2013 Award for Outstanding Volunteerism a ceremony held earlier today at the organization’s Annual Meeting and Awards Luncheon. Read the news release. (November 04, 2013)
The American Academy of Actuaries honored Stephen Goss, chief actuary of the Social Security Administration, with the 2013 Robert J. Myers Public Service Award during a ceremony held earlier today at the organization’s Annual Meeting and Awards Luncheon. Read the news release. (November 04, 2013)
The American Academy of Actuaries awarded Ethan Kra with the 2013 Jarvis Farley Service Award during a ceremony held earlier today at the organization’s Annual Meeting and Awards Luncheon. Read the news release. (November 04, 2013)
Read about how insurance companies may be overlooking the importance of personnel in corporate transformation, the outlook for workers’ compensation insurance in the 21st century, and how the baby boom generation is at the forefront of yet another social revolution: retirement without a safety net. (November 01, 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. (November 01, 2013)
The Health Practice Financial Reporting Committee released a new issue brief providing an overview of Affordable Care Act provisions - the premium-stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities - that may create a certain amount of volatility on future financial statements. (November 01, 2013)
In response to a letter submitted by the Society of Actuaries (SOA) to the Committee on Qualifications (COQ) earlier this year, the COQ has sent a letter to the SOA regarding their request that the COQ modify Section 3.1.1.2 of the U.S. Qualification Standards at this time to include a reference to the SOA as a provider of property and casualty exams to meet the basic education requirements to sign the NAIC Property and Casualty Annual Statement actuarial opinion. (November 01, 2013)
