Health Solvency Subcommittee Chairperson Derek Skoog provided an update to the NAIC’s Health Risk-Based Capital (E) Working Group at the NAIC’s Fall 2022 National Meeting in Tampa, FL, on the H2—underwriting risk component and the managed care credit calculation in the health risk-based capital formula. (December 12, 2022)
The Economic Scenario Generator Work Group submitted a presentation to NAIC’s Life Actuarial (A) Task Force’s Subgroup on Economic Scenario Generator Stylized Facts and Acceptance Criteria (December 16, 2022)
The Multiemployer Plans Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) on its proposed rule about interest rate assumptions regarding a withdrawing employer's liability under a multiemployer plan. (December 13, 2022)
The Pension Committee published a practice note, Measuring Pension Obligations for Difficult-to-Value Plan Provisions, providing information to actuaries on current or emerging practices regarding defined benefit pension plan provisions that may be difficult to adequately measure using traditional valuation procedures. (December 09, 2022)
The Pension Committee and Retirement Policy and Design Evaluation Committee submitted a letter to congressional leadership commenting on provisions included in the Securing a Strong Retirement Act of 2022 (SECURE 2.0), the EARN Act, and the RISE & SHINE Act. (December 09, 2022)
Academy Health Practice Council (HPC) Vice President, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during their virtual meeting in lieu of the 2022 Fall National Meeting. (December 05, 2022)
Presentation at the National Association of Insurance Commissioners (NAIC) Affordable Care Act (ACA) State Rate Review Discussion Meeting on Considerations for Calculating Cost-Sharing Reduction (CSR) Premium Load Factors. (November 16, 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) Corporate Credit and Bond Fund Returns. (December 11, 2022)
The Academy’s Life Experience Committee released a discussion brief on credibility in life insurance modeling. (December 02, 2022)
The Academy’s Life Experience Committee released a discussion brief on the use of margins in life insurance modeling. (December 02, 2022)
Precept 11 of the Code of Professional Conduct states that “An Actuary shall not engage in any advertising or business solicitation activities with respect to Actuarial Services that the Actuary knows or should know are false or misleading.” What does that mean for your organization’s marketing efforts? Read on to find out more. (November 30, 2022)
Casualty Practice Council (CPC) Outgoing Vice President, Lauren Cavanaugh and Committee on Property and Liability Financial Reporting (COPLFR) Chairperson Derek Freihaut presented to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) on behalf of the CPC and COPLFR on recent publications and future work products expected for release in early 2023. (November 08, 2022)
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 Committee on Property and Liability Financial Reporting (COPLFR) released the update to the Risk Transfer Practice Note (last updated in 2007). The Risk Transfer Practice Note includes definitions and relationships between regulatory treatments of risk transfer, e.g., U.S. statutory, U.S. GAAP, IFRS 4 and IFRS 17, and Solvency II; the process for determination of risk transfer; current techniques used in practice for determining risk transfer; and risk transfer documentation. (November 04, 2022)
The hallmarks of a profession include high levels of expertise gained through years of study and experience, a high level of trust, and upholding high standards of conduct, qualification, and practice. A disciplinary process is also necessary to ensure that those standards are being met, in the public interest. (November 07, 2022)
