The ERM/ORSA Climate Related Financial Disclosures Working Group shared an update to the National Association of Insurance Commissioners (NAIC) Climate and Resiliency (EX) Task Force at its National Meeting. Work Group Chair, Michelle Young, and Academy Assistant Director of Research, Steve Jackson, shared the group's research and analysis thus far, along with plans for phase two of the project. ()
Steve Jackson, Academy Assistant Director for Research, shared an update on the Scalars Project to the National Association of Insurance Commissioners (NAIC) International Insurance Relations (G) Committee. (August 12, 2020)
The Long-Term Care Reform Subcommittee's COVID-19 Work Group released their issue brief on COVID-19’s potential short-term and long-term impacts on long-term care insurance (LTCI), focusing on key actuarial and economic assumptions impacting standalone LTCI policies. Read the news release. (January 25, 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. (January 22, 2021)
The Winter HealthCheck includes a Q&A with Academy Senior Health Fellow Cori Uccello on some of the key health-related issues likely to be addressed by the incoming Biden administration and the new Congress. Also in the issue, the Health Solvency Committee commented to the NAIC on several issues; a recap of the Annual Meeting and Public Policy Forum’s health breakout sessions; the Life and Health Valuation Law Manual is available for preorder; and recent state and federal legislative, regulatory, and judicial activity. (January 19, 2021)
The Committee on Property and Liability Financial Reporting (COPLFR) released the practice note, Statements of Actuarial Opinion on P/C Loss Reserves (2020), which includes discussion regarding changes in the NAIC Annual Statement Instructions—Property/Casualty (NAIC Annual Statement Instructions) regarding the Actuarial Opinion, the Actuarial Opinion Summary, and Actuarial Report, as well as COVID-19 considerations. (January 19, 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. (January 15, 2021)
The Solvency Committee submitted comments to the Federal Insurance Office regarding its Study on the Insurance Capital Standard (ICS). (January 15, 2021)
The Health Solvency Subcommittee sent a comment letter in response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group providing additional detail regarding the potential investment income adjustment factor for Health H2 Experience Fluctuation Risk. (January 11, 2021)
The Casualty Practice Council filed comments on the Actuarial Standards Board exposure draft, Using Models Outside the Actuary's Expertise (Property and Casualty). (January 15, 2021)
Members of the Financial Reporting Committee submitted fatal flaw comments to the American Institute of Certified Public Accountants (AICPA) regarding Issues 3 & 4CD (market risk benefits) as part of ongoing discussions at the Insurance Experts Panel. (January 15, 2021)
The latest issue of Casualty Quarterly leads with a Q&A with Casualty Vice President Lauren Cavanaugh on the Casualty Practice Council’s recent letters and testimony addressing race and insurance issues to both the National Association of Insurance Commissioners and National Council of Insurance Legislators. Also in the issue, the Committee on Property and Liability Financial Reporting released new FAQs on COVID-19, the Academy submitted testimony to the U.S. House of Representatives on pandemic insurance, the Cyber Risk Task Force sent a comment letter to the U.S. Treasury Department, and recent legislative and regulatory activity. (January 13, 2021)
The Committee on Property and Liability Financial Reporting issued an updated and expanded set of questions and answers concerning the impact of COVID-19 on p/c financial reporting. This supercedes the first edition, published in June 2020. (January 13, 2021)
The ERM/ORSA Committee's Climate-Related Financial Disclosures (CRFD) Work Group submitted comments to the International Association of Insurance Supervisors (IAIS) on its Application Paper on the Supervision of Climate-related Risks in the Insurance Sector. (January 11, 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. (January 08, 2021)
