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)

The Annuity Illustration Work Group submitted a comment letter to the NAIC's Annuity Disclosure (A) Working Group regarding proposed changes to the Annuity Disclosure Model Regulation (#245). (January 31, 2018)

The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.  (January 26, 2018)

The Individual and Small Group Markets Committee sent comments to Office of the Assistant Secretary for Planning and Evaluation in response to the Department of Health and Human Services’ request for information on promoting healthcare choice and competition. (January 25, 2018)

The Academy offered public policymakers actuarial expertise on health insurance, Social Security, retirement income, financial services, the NFIP and other issues ahead of Tuesday night’s speech by President Trump. “As we learn the president’s priorities for 2018, and Congress debates proposals affecting the sustainability, design, and other aspects of these plans and systems, the Academy’s expert fellows are available to discuss their actuarial implications,” said Academy President Steve Alpert. Read the news release. (January 25, 2018)

The Committee on Property and Liability Financial Reporting has released an exposure draft of a new practice note on retained risk. Comments are due by March 30. (January 18, 2018)

It was the seventh consecutive season with an elevated seasonal value of above 1.5 while the five-year moving average remained at the high set in winter 2016-17, driven by sea level changes in the Atlantic and Gulf Coast regions. Read the news release. (January 17, 2018)

The Academy is pleased to report that the Federal District Court in Washington, DC, late Friday, Jan. 12, granted in entirety the Academy's Motion to Dismiss the lawsuit filed by Timothy Sharpe. This is a significant victory upholding the validity of the profession's disciplinary process. You can read the decision here. (January 16, 2018)

The Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.  (January 12, 2018)