Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study.  (March 21, 2018)

The Financial Reporting Committee submitted implementation questions for consideration by the IFRS Transitions Resource Group on IFRS 17 Insurance Contracts. (March 21, 2018)

Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements.  (March 21, 2018)

Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases.  (March 21, 2018)

The RBC Tax Reform Work Group submitted a comment letter to the NAIC's Life Risk-Based Capital (E) Working Group on changes to Risk-Based Capital calculations due to recent U.S. corporate tax reform.  (March 15, 2018)

In the spring Casualty Quarterly, Edmund Douglas, chairperson of the Academy’s Cyber Risk Task Force, writes about cyber risk as a pre-eminent security concern—a wakeup call akin to the Great Fire of London in 1666. Also covered are two practice notes from the Committee on Property and Liability Financial Reporting; the Academy’s take on a “Qualified Actuary” proposal; and state and federal legislative, judicial, and regulatory activity. (March 19, 2018)

The Workers’ Compensation Committee provided comments to the NAIC’s Workers’ Compensation Task Force, describing the difficulty of comparing rates from one state to another. (March 15, 2018)

The Academy recently adopted an updated Board and Committee Meetings Policy as another mechanism to ensure that the high level of professional objectivity and independence from any specific special interests are maintained. Answers to frequently asked questions (FAQs) on the updated policy are now available. (March 15, 2018)

In the March HealthCheck, the Health Practice Council (HPC) made its annual visits to Capitol Hill this month, highlighting a new issue brief on prescription drug costs. Much of this year’s HPC discussions focused on efforts to stabilize the individual health insurance market and on the proposed rules on association health plans and short-term, limited-duration insurance. Also covered, a new public policy practice note from the Group Long-Term Disability Practice Note Work Group; an Academy statement on a U.S. District Court decision involving Actuarial Standard of Practice No. 49; and registration is open for the Academy’s Life and Health Qualifications Seminar. (March 14, 2018)

The Academy issued a news release explaining that a recent decision by the U.S. District Court for the Northern District of Texas regarding a Department of Health and Human Services (HHS) regulation on actuarially sound Medicaid payments “mischaracterizes the role of the Actuarial Standards Board.” Read the release here. (March 12, 2018)

The Multiemployer Plans Committee sent a letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans offering the expertise of the Multiemployer Plans Committee as a resource to the Joint Select Committee. (March 11, 2018)

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. (March 08, 2018)

Past Academy President Mary D. Miller submitted two letters from the Academy to the NAIC this week—one responding to NAIC’s Casualty Actuarial and Statistical Task Force’s (CASTF) request for comments on the appointed actuary’s public attestation and supporting confidential documentation, and a second responding to CASTF’s request for proposals on the three-year experience period. (March 08, 2018)