More than 2,700 people attended the Oct. 17 professionalism webinar, “The Anatomy of the ASOPs,” in which presenters examined issues related to the actuarial standards of practice (ASOPs) promulgated by the Actuarial Standards Board (ASB). Presenters ASB Chairperson Beth Fitzgerald, Vice Chairperson Kathy Riley, and member Cande Olsen explained the key concepts that help keep actuarial practice appropriate and compliant with the Code of Professional Conduct. The presenters covered how ASOPs are developed, key terms that apply to all ASOPs, and actuarial communications. Look for more coverage in the forthcoming October Actuarial Update. Slides and audio are available free to Academy members. (October 16, 2018)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) public consultation document dated July 31, 2018. (October 18, 2018)
The Annuity Illustration Work Group submitted a letter, consolidating their comments to the NAIC, on proposed changes to Annuity Disclosure Model Regulation #245. (October 17, 2018)
The Health Solvency Subcommittee sent comments to the NAIC's Health Risk-Based Capital (E) Working Group on the impact on Health Risk-Based Capital (HRBC) from the Tax Cuts and Jobs Act of 2017 (TCJA). (October 17, 2018)
The October HealthCheck previews health breakout sessions at the upcoming Annual Meeting and Public Policy Forum including Affordable Care Act updates, reference pricing, and long-term care issues. Also in this issue: the Oct. 25 Capitol Forum webinar will look at how the Health Insurance Simulation Model (HISIM) is being updated, limited space remains for November’s Life and Health Qualifications Seminar, and recent state and federal legislative and regulatory activity. (October 10, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on mortality experience assumptions and the selection of the industry basic table when company experience mortality rates are higher than the industry basic table. (October 02, 2018)
In the September Actuarial Update, with the Academy’s Annual Meeting and Public Policy Forum just a month away, read about the latest additions to our plenary session speaker lineup, including key government officials and Charlie Cook of The Cook Political Report, who will speak on the state of U.S. politics just days before the midterm elections. Also in this issue: Meet the 2018 Academy service award winners, who will receive their awards at the Annual Meeting; an update on a petition to change rules governing participation of guests at Academy committee meetings; coverage of the late-September P/C public policy and risk management Form F webinars; and the “Professionalism Counts” column on actuarial standards of practice and the exposure process. (October 01, 2018)
The Multiemployer Plans Committee submitted a follow-up letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans on key topics discussed during a June 22 meeting regarding loan proposals and other solutions for troubled multiemployer pension plans. (September 25, 2018)