The RBC Tax Reform Work Group submitted a comment letter to the NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the Interpretation of 2018 Life Risk-Based Capital Results. (February 18, 2019)

Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter to the Casualty Actuarial and Statistical (C) Task Force (CASTF) to the CASTF 's draft qualification and related documentation requirements and copy of a letter to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition. (February 14, 2019)

Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter pertaining to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition. (February 14, 2019)

The Role of the Actuary Subgroup sent a comment letter to the Variable Annuities Capital and Reserve (E/A) Subgroup on the use of the terms "actuary" and "qualified actuary" in draft revisions to VM-21.  (February 12, 2019)

The February HealthCheck covers the Long-Term Care (LTC) Practice Note Work Group’s exposure draft of an LTC insurance practice note, comments on which are due April 30. Also in this issue, state and federal legislative regulatory activity, including a White House Council of Economic Advisers report on the Affordable Care Act; regulatory actions by the Centers for Medicare & Medicaid Services; and health-related legislation in several states. (February 13, 2019)

The Academy’s Board of Directors has elected past president and international secretary Tom Wildsmith to serve on the Academy’s Board to enhance ongoing discussions on international issues affecting the U.S. actuarial profession. “Tom brings thorough, contemporaneous knowledge of international developments affecting the U.S. profession to the table,” said Academy President Shawna Ackerman. Read more in the Academy’s news release. (February 13, 2019)

Academy President Shawna Ackerman sent a special message to members on the day of the State of the Union addressing the many ways in which the Academy is providing public policymakers and regulators with an actuarial perspective to support good policy outcomes on financial security issues. (February 04, 2019)

Academy volunteers and interested parties must provide annual acknowledgement of their commitment to objectivity and the Academy’s Conflict of Interest (COI) Policy and continuing education requirements, writes Art Panighetti, vice president of the Council on Professionalism. (Actuarial Update, January 2019) (January 30, 2019)

The Life Reinsurance Work Group provided comments to the NAIC's Life Actuarial (A) Task Force regarding the possible impact of varying interpretations of current VM-20 guidance for determination of future nonguaranteed yearly renewable term reinsurance rates.  (January 30, 2019)

The LTC Practice Note Work Group published an exposure draft of a practice note to provide a source of information to practicing long-term care (LTC) actuaries seeking to better understand the considerations in evaluating experience, setting assumptions, valuation, and financial reporting. (January 30, 2019)

In the January Actuarial Update, read about the Academy representatives who attended and presented at Canada’s Actuarial Students’ National Association meeting in Montreal this month. Also in this issue: the Academy released its 2018 year-in-review policy alert; Rich Gibson is the Academy’s new Senior P/C Fellow; and the “Professionalism Counts” column, by Vice President for Professionalism Art Panighetti, notes that now is the time for Academy volunteers to commit to objectivity. (January 31, 2019)

The winter Life Perspectives has a Q&A on the principle-based reserve (PBR) practice note released this month with Linda Lankowski, vice chairperson of the Academy’s Life Practice Council (LPC) and chairperson of the PBR Strategy Subgroup and its Practice Note Work Group and PBR 101 Work Group. Also included are legislative and regulatory updates and LPC comment letters to the NAIC. (January 30, 2019)