In the February issue of HealthCheck, the Individual and Small Group Markets Committee sent comments to the U.S. Department of Labor on association health plans, the Retiree Benefits Subcommittee held a teleconference with the U.S. Government Accountability Office on a review of postal retiree health benefits, and a new short-term government funding measure includes several health-related provisions. (February 13, 2018)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Interim Consultation Paper on Activities-Based Approach (ABA) to Systemic Risk dated December 8, 2017. (February 13, 2018)
The Individual and Small Group Markets Committee sent comments to the Office of Regulations and Interpretations within the Employee Benefits Security Administration in response to the Department of Labor's proposed rule on the definition of employer—small business health plans. (February 09, 2018)
Senior Property and Casualty Fellow Kevin Ryan testified before the Maryland House Economic Matters Committee, commenting on legislation to prohibit the use of occupation, education, gender, and marital status as factors in determining private passenger automobile insurance rates. (February 08, 2018)
Committing on an annual basis to professional objectivity is required to perform volunteer work for all those who participate in Academy committees. D. Joeff Williams, vice president of the Academy’s Council on Professionalism, outlined the policy with a request that volunteers and submit a conflict of interest (COI) acknowledgement and continuing education attestation as soon as possible. Interested parties must also acknowledge the COI policy. (Actuarial Update, January 2018) (January 31, 2018)
The Joint P&C/Health Bond Factors Analysis Work Group submitted a discussion draft of a report on P/C and Health bond factors for consideration by the NAIC’s Joint Health RBC and P/C RBC Drafting Group. (January 31, 2018)
“New Standards for the New Year,” by Actuarial Standards Board (ASB) Chairperson Beth Fitzgerald, highlights several new actuarial standards of practice (ASOPs)—Nos. 51, 52, and 53—offering explanations behind their promulgation last year, and the role of the ASB’s committees and task forces in creating the ASOPs. (Actuarial Update, January 2018) (January 31, 2018)
The January Actuarial Update covers the first webinar in the joint series by the Academy and the Canadian Institute of Actuaries, which outlined the organizations’ roles in their respective countries. Also in this issue, the Academy released its year-in-review legislative and regulatory alert; a federal court dismissed a lawsuit against the Academy in a discipline case; Professionalism Vice President D. Joeff Williams reviews the purpose of the annual conflict-of-interest and continuing education acknowledgments; and the “Professionalism Counts” column, “New Standards for the New Year,” by Actuarial Standards Board Chairperson Beth Fitzgerald, highlights several new actuarial standards of practice. (January 31, 2018)
At its January meeting, the Academy Board of Directors updated its existing meetings policy to ensure that the objectivity and independence of the Academy continue in our public policy and professionalism work. The work of Academy volunteers and committees needs to be done in a deliberative environment that is robust, frank, and considers diverse sources of information and different perspectives, free from any specific interests of the employers of its members or of any other special interest group or organization. The revised policy will clarify and strengthen the Academy’s efforts to continue the quality of work on which our reputation is built with the integrity that is expected. The updated policy has been posted to the Academy Policies and Guidelines section of our website. (January 31, 2018)