The American Academy of Actuaries’ Life Practice Council commends the decision by the National Association of Insurance Commissioners to adopt the Life Valuation Manual that will help lead to a principle-based reserves (PBR) system intended to allow insurers to more accurately calculate risks and required reserves for insurance products. Read the news release. (December 03, 2012)

Read about the Academy’s recent activities in the latest edition of the Actuarial Update. (November 30, 2012)

Join the Academy’s Life Practice Council on Dec. 13 for an overview of the NAIC Fall 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. Presenters also will provide an overview of the newly adopted 2012 Individual Annuity Reserving Table which becomes effective January 2014. (December 07, 2012)

Read about recent health care reform activities in the latest edition of HealthCheck.  (November 28, 2012)

The Social Security Committee held a webinar, Social Security: Actuarial Status and Assumptions, on Nov. 27 that attracted over 300 attendees. The webinar focused on the assumptions used to evaluate Social Security’s financial condition and provided an overview of the actuarial status of the program based on the 2012 Social Security Trustees Report. The audio of the presentation is available here. (November 27, 2012)

Senior Health Fellow Cori Uccello presented to the National Conference of Insurance Legislators regarding states' Affordable Care Act Medicaid expansion decisions.  (November 26, 2012)

This webinar discusses peer review and common practices actuaries can use to determine whether voluntary peer review of their actuarial services and actuarial communications may be beneficial. (December 12, 2012)

COPLFR provided a comment letter to the NAIC's Casualty Actuarial & Statistical Task Force on the Statutory Accounting Principles Working Group's proposed changes to SSAP 65. (November 16, 2012)

The P/C RBC Committee provided a report to the NAIC's SMI RBC Subgroup on risk correlation methodologies used to determine regulatory solvency capital requirements in advanced jurisdictions outside the U.S. (November 15, 2012)

The Solvency Committee responded to an NAIC Solvency Modernization Initiative Task Force request to outline methods of measuring regulatory financial success in the U.S. insurance financial regulatory system. (November 16, 2012)

The LPC submitted a comment letter in support of budget item, “Actuarial Guideline 38/Principle-Based Reserving Implementation and Monitoring.” (November 16, 2012)

The Health Care Receivables Factors Work Group submitted a letter to the NAIC's Health Risk-Based Capital Working Group that provides recommendations for receivables factors in the current RBC formula. (November 16, 2012)