Group Life Waiver Premium Valuation Table Work Group chairperson, Sue Sames, presented an update on proposed recommendations to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force on the Group Life Waiver of Premium Valuation Table and Actuarial Guideline 44 (AG 44). The purpose of the presentation was to give an overview of the work group’s progress and present the initial set of recommendations. (May 16, 2022)
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. (May 13, 2022)
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. (May 06, 2022)
The Academy’s Life Underwriting and Risk Classification Work Group submitted comments to the Colorado Division of Insurance on the stakeholder engagement process to develop rules to implement SB21-169, a new law to limit unfair discrimination in the life underwriting process. (May 06, 2022)
The Academy’s Asset Modeling and Reporting Task Force submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force (LATF) on LATF’s exposure of a draft Actuarial Guideline on asset adequacy testing. (May 06, 2022)
The Academy’s Index-Linked Variable Annuity Work Group submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure of a draft Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts. (May 06, 2022)
The Academy’s Annuity Reserves and Capital Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding longevity reinsurance and longevity swaps. (May 05, 2022)
Several annotations to Precept 10 of the Code of Professional Conduct—which addresses courtesy and professional respect—provide more detail about some of the difficult situations an actuary may face and how to handle them. (April 30, 2022)
The Spring Life Perspectives leads with a Q&A on a new practice note, Long-Term Care Life Insurance Combination Product Valuation, with Robert Eaton, chairperson of the work group that developed the practice note. Also in the issue, a preview of two life-related webinars coming in May, Life Practice Council committee comments to the NAIC, a new VM-21 practice note supplement, and recent legislative and regulatory activity. (May 02, 2022)
In the May/June Contingencies, read about “The COVID Connection”—how the pandemic has affected (and will continue to affect) the life insurance industry. Also, “The Great Unwinding” covers what happens to the millions of people who became eligible for Medicaid amid the pandemic when the federal public health emergency ends; “Explaining Professionalism to Principals” explains why actuarial professionalism is so important—not just for actuaries, but for all stakeholders involved in actuarial services; and “Thoughts on Social Security,” which offers an intriguing option for reform. Plus, a President’s Message on continued renewal, a Tradecraft selection on a fund found just north of the border, and an Up to Code article on mythology and actuarial professionalism. (May 02, 2022)
The Academy is seeking proposals from qualified vendors to produce its annual Life and Health Valuation Law Manual. Proposals are due by June 15, 2022. (May 02, 2022)
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. (April 29, 2022)
The April Actuarial Update highlights the Academy’s 2022 Annual Meeting, which is set for Nov. 2–3 at the Metro Center Marriott in Washington, D.C. Also in the issue: the Academy held two professionalism webinars in April on recently revised actuarial standards of practice and will hold a third on May 12; the Pension Practice Council held virtual “Hill Visits”—meetings with federal lawmakers, staff, and agency officials; the Academy presented on DE&I at the Drake Symposium on Insurance; coverage of this month’s health webinar and a preview of May’s, which will examine health spending projections in the wake of COVID-19; order your copy of the Academy-sponsored Magic School Bus book; the “Member Spotlight” profiles health volunteer and Health Practice International Committee Vice Chairperson Zerong Yu; and the “Professionalism Counts” column on “Precept 10: Courtesy & Cooperation.” (April 29, 2022)
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. (April 22, 2022)
The Academy’s Life Long-Term Care Combo Product Valuation Practice Note Work Group released Long-Term Care Insurance Combination Product Valuation, a practice note to that addresses the application of the NAIC Valuation Manual to these products from primarily a life insurance perspective. The previous 2019 Long-term Care (LTC) Combination Product Valuation Practice Note was developed by a work group of the Health Practice Council within the Academy. (April 20, 2022)
