More Than 2,700 Attend Professionalism Webinar on the ASOPs
More than 2,700 people attended Wednesday’s 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.
Today—Last Chance to Register Online for LHQ Seminar
Online registration for the Academy’s annual Life and Health Qualifications Seminar closes today, Oct. 19. Register now to secure one of the last few spots that remain for the Nov. 4–8 event in Arlington, Va. Continuing education credit will be available.
Next Week—Capitol Forum Webinar to Look at Health Insurance Simulation Model
Join the Academy for next week’s “Capitol Forum: Meet the Experts” webinar—an inside look at how the Health Insurance Simulation Model (HISIM) is in the process of being updated. Speakers Jessica Banthin, deputy assistant director of the Congressional Budget Office’s (CBO) Health, Retirement, and Long-Term Analysis Division (HRLD); and Alexandra Minicozzi, HRLD unit chief of health insurance modeling; will provide an overview of the HISIM, which is used to generate estimates of health insurance coverage and premiums for the U.S. population under age 65. CBO analysts use the model to develop baseline projections and to simulate the effects of proposed changes to policies involving health insurance coverage. Academy Senior Health Fellow Cori Uccello will moderate. The webinar will be held next Thursday, Oct. 25, from noon to 1 p.m. EDT. Register today.
Annual Meeting and Public Policy Forum—Online Registration Closes Next Week
There’s one week left to register online for the Academy’s Annual Meeting and Public Policy Forum. To be held Nov. 1–2 in Washington, D.C., the Academy’s premier annual event will offer practice-specific tracks for all areas, and plenary sessions offering perspective on issues ranging from professionalism to pensions to Big Data. Charlie Cook of the highly respected Cook Political Report will give a timely nonpartisan overview of next month’s midterm elections just days before Election Day. Attendees and guests can also enjoy a fun-filled evening during the Nov. 1 reception and dinner at Washington’s historic Mayflower Hotel, which will transport attendees to the 1920s to watch—and even help solve—a murder-mystery “whodunit.” Registration is open through next Friday, Oct. 26; visit our website for the full agenda. Register today.
Academy Congratulates Outgoing and Incoming SOA Leadership at Their Annual Meeting in Nashville
Academy President Steve Alpert, President-Elect Shawna Ackerman, and Executive Director Mary Downs attended the Society of Actuaries’ (SOA) Annual Meeting in Nashville this week, where they congratulated incoming and outgoing SOA leadership. There were several other past Academy presidents and leadership in attendance as well, and the Academy’s exhibit booth had steady visitors.
Public Employment Opportunity
The Social Security Administration is seeking to fill a position for deputy chief actuary for short-range actuarial estimates in the Office of the Chief Actuary. This role is responsible for planning, directing, and coordinating the development of the short-range cost estimates for all Social Security programs both under current provisions and proposed changes in law or regulations. The application deadline is Oct. 29. For more information and to apply, click here.
The Health Solvency Subcommitteesent comments to the NAIC’s Health Risk-Based Capital (E) Working Group on the impact on Health Risk-Based Capital from the Tax Cuts and Jobs Act of 2017.
The Annuity Illustration Work Groupsubmitted a letter consolidating its comments to the NAIC on proposed changes to Annuity Disclosure Model Regulation (#245).
The Property Casualty Insurers Association of America sponsored a Capitol Hill seminar Thursday on “Flood Insurance—Bridging the Gap” for congressional staff. One of the speakers was John Rollins, a member of the Academy’s Flood Insurance Work Group, which issued a 2017 monograph on the National Flood Insurance Program. Copies of the monograph were distributed at the meeting.
The Solvency Committee sent a comment letter to the International Association of Insurance Supervisors regarding the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) public consultation document.
The Washington Post quoted Barb Klever, chairperson of the Individual and Small Group Markets Committee, on how reinsurance programs can diversify risk pools by attracting new, unsubsidized people, which can make the risk pool become relatively healthier.
In a subscriber-only Bloomberg BNA story, Senior Health Fellow Cori Uccello discussed the impact of regulatory changes on Affordable Care Act exchange-plan health insurance premium rates for 2019.
Former Academy Pension Vice President Bill Hallmark and Jason Russell, chairperson of the Multiemployer Plans Committee, were quoted in a subscriber-only Pensions & Investments story on the Actuarial Standards Board’s soon-to-be effective Actuarial Standard of Practice No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.
An opinion piece in the Capitol Weekly (Sacramento, Calif.) cited Academy research on the funded ratio of a pension fund and how it is expected to fluctuate based on economic cycles.
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