The Actuaries Climate Index’s five-year moving average declined for the first time since 2017 but remains at an elevated level, the latest seasonal data update to the index showed. Read the news release. (June 08, 2021)
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. (June 04, 2021)
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 28, 2021)
The May Actuarial Update covers the Nominating Committee’s selection of Ken Kent as the nominee to be the Academy’s next president-elect. His extensive Academy volunteer service has included vice president of professionalism and vice president of pension, and he is currently a member of the ABCD. Also in the issue, the deadline is June 25 for nominations for the Academy’s annual service awards; there’s still time to register for June’s PBR Boot Camp; Pension Practice Council members conduct Capitol “Hill Visits”; webinars examine health equity and life practice and COVID-19; and the “Professionalism Counts” column is a Q&A with several contributors to a new professionalism discussion paper. (May 28, 2021)
A new paper from the Committee on Professional Responsibility, Professionalism for the Solo Actuary, was published this month. Actuarial Update asked some of the contributing authors—John Purple, Kathleen Wong, and Shawn Parks—to find out more about their views on the challenges facing actuaries working on their own. (May 28, 2021)
The C-2 Longevity Risk Work Group submitted comments to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on the exposure (2021-13-L), Longevity Factors and Instructions. (May 27, 2021)
The C1 Work Group submitted a comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on its exposures of proposed bond factors and instructions. (May 27, 2021)
The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on an amendment proposal form (APF 2020-10), which addresses inclusion of future mortality improvement (FMI) into principle-based reserving (PBR) valuation. (May 25, 2021)
The Pension Practice Council published an issue brief considering mechanisms in place to help guarantee payment of pension plan participants’ earned benefits. (May 27, 2021)
The Health Equity Work Group (HEWG) released the Discussion Brief – Issue in Focus, Health Equity From An Actuarial Perspective: A Deeper Dive Into Health Plan Pricing. This discussion brief, which focuses on questions related to pricing health insurance products, is part of a series to identify areas that may affect health equity. An introductory discussion brief provided an overview of the HEWG’s work. (May 25, 2021)
The Committee on Professional Responsibility released a new professionalism discussion paper, Professionalism for the Solo Actuary. The ideas and suggestions offered in the paper are intended to assist solo practicing actuaries or actuaries practicing in small firms with respect to situations that they may encounter in providing actuarial services. (May 25, 2021)
The Long-Term Care (LTC) Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care (EX) Task Force regarding the April 9 exposure draft of the Long-Term Care Insurance Multi-State Rate Review Framework. (May 24, 2021)
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 21, 2021)
The Spring Life Perspectives has an inside look at the Academy’s VM-22 In Brief document, by Donna Claire, chairperson of the PBR Implementation Work Group, and chairperson of the VM-22 Subgroup. Also in the issue, previews of the upcoming PBR Boot Camp, recent Life Practice Council work group comments to the NAIC, and life-practice federal and state legislative and regulatory activity. (May 21, 2021)
Academy President Tom Campbell submitted a letter to the NAIC Special Committee on Race and Insurance on proposed charges regarding P/C and life insurance issues related to Workstream Three (property/casualty) and Workstream Four (life insurance and annuities). (May 14, 2021)
