The Committee on Professional Responsibility (COPR) released a discussion paper, Actuarial Professionalism Considerations for Generative AI. The chairperson of the COPR task force that wrote the paper, Matt Wininger, offered some insights. (September 30, 2024)

The Long-Term Care (LTC) Committee submitted comments to the NAIC’s Long-Term Care Actuarial (B) Working Group (LTCAWG) in response to LTCAWG's August 12, 2024, request for comments on Proposals A and B as candidates for a Single LTCI Multistate Rate Review Approach. (September 27, 2024)

The P/C Committee on Equity and Fairness (PCCEF) released an issue brief, Insurance Fraud: Impacts on Premiums, Claim Costs, and the Public. The brief discusses regulatory actions to prevent and report fraud and approaches actuaries can take to quantify the damage fraud causes. (September 20, 2024)

Our membership software hosting server will undergo maintenance this weekend—from 9 a.m. to 6 p.m. EDT Saturday, Oct. 19. Member-related functions will be disabled during this time. (October 18, 2024)

The Committee on Professional Responsibility (COPR) released a professionalism discussion paper, Actuarial Professionalism Considerations for Generative AI. The paper describes the use and professionalism considerations for actuaries using generative artificial intelligence (GenAI) to provide actuarial services. (September 19, 2024)

The Social Security Committee has released a public policy issue paper, Immigration and Social Security. Immigration is a crucial component to the trajectory of the financial condition of the Social Security system—this paper discusses how immigration affects the social insurance program. (September 18, 2024)

The Life Underwriting and Risk Classification Subcommittee submitted additional comments to the Colorado Division of Insurance on the ACLI draft proposed quantitative testing regulation, Concerning Quantitative Testing of External Consumer Data and Information Sources, Algorithms, and Predictive Models Used for Life Insurance Underwriting for Unfairly Discriminatory Outcomes. (September 13, 2024)

The Public Plans Committee released an issue brief, Public Pension Plans: Helping Members Evaluate Buyout Programs and Other Lump Sums. The issue brief suggests critical information that would help members compare the value of an offered buyout—a lump sum payment in exchange for some or all of their pension benefits—to the value of the lifetime benefits. (September 11, 2024)

The Extreme Events and Property Lines Committee submitted comments to the Federal Emergency Management Agency on their RFI on the redesign of the National Flood Insurance Program’s Community Rating System. (September 09, 2024)

The Life Underwriting and Risk Classification Subcommittee submitted comments to the NAIC's Special (EX) Committee on Race and Insurance Life Workstream on the July 17 Exposure of the Survey of Life Insurer Underwriting Guidelines as Applied to Justice Impacted Individuals.  (September 05, 2024)

As summer turns to fall, now is a good time to check that you are on track to meet your continuing education (CE) requirements for the year. Under the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS), you must earn 30 hours of relevant CE each year. (And remember, an hour is defined in the USQS as 50 minutes.) (August 30, 2024)

Members of the Annuity Reserve and Capital Subcommittee, along with representatives from EY, presented at the Society of Actuaries' 2024 Valuation Actuary Meeting on the VM-22 Field Test. (August 28, 2024)

Members of the Life Practice Council, along with representatives from Kuvare and the Minnesota Department of Commerce, presented at the Society of Actuaries' 2024 Valuation Actuary Meeting on offshore reinsurance.  (August 28, 2024)