The Social Security Committee released an issue brief examining the potential effects of increasing the Social Security normal retirement age, which it has identified as likely to be a key component of any legislation considered to restore Social Security’s long-term financial health. (March 01, 2022)
The February Actuarial Update covers the Academy’s input into implementation of Colorado’s new insurance anti-discrimination law. Also in the issue: The Actuarial Standards Board adopted a revision to ASOP No. 4 and the Academy is planning a spring webinar on the topic; Ali Khawar, acting assistant secretary of the U.S. Employee Benefits Security Administration, will be a featured speaker at the March 10 Capitol Forum webinar on retirement issues; the Cyber Risk Task Force updated its Cyber Risk Toolkit; the Academy welcomed more than 400 members in the second half of 2021; and the “Professionalism Counts” column looks at “Keeping Up With the ASOPs.” (February 28, 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. (February 25, 2022)
The Winter Casualty Quarterly leads with a Q&A on the recent wildfires issue paper from the Casualty Practice Council’s P/C Extreme Events and Property Lines Committee. Also in the issue, the Committee on Property and Liability Financial Reporting released its annual P/C practice note; the P/C Loss Reserves Opinion Seminar and the Annual Meeting and Public Policy Forum included examination of key casualty topics; a P/C public policy webinar covered diversity, equity & inclusion, COVID-19, and other issues; and recent legislative and regulatory activity. (February 24, 2022)
The American Academy of Actuaries’ Cyber Risk Toolkit, developed by the Academy’s Cyber Risk Task Force, is comprised of a series of papers addressing issues pertinent to cyber risk insurance and cyber exposure. Since the initial publication of the Cyber Risk Toolkit, this document has been updated to include the “War, Cyberterrorism, and Cyber Insurance” section and the “Cyber Risk Resource Guide” section. The toolkit will continue to be updated periodically to reflect new and emerging work from the task force. (February 24, 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. (February 18, 2022)
The Academy’s Variable Annuity Reserves and Capital Work Group released its VM-21 Practice Note Supplement, Implementation of Requirements for Principle-Based Reserves for Variable Annuities – 2022 Edition of VM-21. The supplement was exposed for public comment in 2021, and the final product has been published to reflect comments. (February 14, 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. (February 11, 2022)
Medicare Committee Chairperson Rina Vertes and Academy Senior Health Fellow Cori Uccello submitted a statement for the record to the U.S. Senate Committee on Finance Subcommittee on Fiscal Responsibility and Economic Growth regarding the Feb. 2 hearing, “The Hospital Insurance Trust Fund and the Future of Medicare Financing.” (February 11, 2022)
The Fall/Winter issue of The Retirement Report includes a Q&A on the Pension Committee’s recent issue brief, Interpreting Pandemic-Related Decreases in Life Expectancy. Also in the issue, recaps of several recent pension webinars, a look ahead at March’s Capitol Forum webinar on retirement issues, issue briefs released by the Retirement System Assessment and Policy Committee, and recent legislative and regulatory activity. (February 11, 2022)
The Academy’s Life Underwriting and Risk Classification Work Group submitted comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing what the working group has learned on using external data and data analytics in accelerated underwriting and provides recommendations for regulators and insurers when evaluating accelerated underwriting. (February 11, 2022)
The Academy’s Essential Elements: Clarifying Misunderstanding of Life Expectancy and COVID-19 is a useful guide for understanding this complex concept, especially with regard to the COVID-19 pandemic.
Essential Elements is a series of condensed issue papers designed to make actuarial analyses of public policy issues clearer to general audiences. (February 11, 2022)
The Academy’s Annuity Reserves and Capital Work Group submitted a letter and spreadsheet to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding a reinvestment credit quality assumption consistent with the current VM-22 mix. (February 09, 2022)
The Academy’s Life Illustrations Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure draft regarding the indexed universal life illustrations post-AG 49-A, which have shown lower credited rates and related values than seen prior to AG 49-A. (February 03, 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. (February 04, 2022)
