Join the Academy for a June 30 webinar that will look at the Report on Principle-Based Reserve Modeling for Long-Term Care (LTC) Insurance, which was issued earlier this year. Hosted by members of the LTC PBR Work Group, the webinar, to be held from noon to 1 p.m. EDT, will feature a discussion of the report, which demonstrates the feasibility of one modeling method and provides resources for future modeling investigation on principle-based valuation of liabilities as applied to LTC insurance. Speakers also will provide a live demonstration of the model included in the report. Attendees will gain strong knowledge of the model’s functionalities and structure, assumptions employed, and the modeling process. Register today.
And save the date for a July 20 webinar, “Putting a Price on Risk: Quantifying Risk Exposures for ORSA Reports.” The ERM/ORSA Committee will host this interactive forum, in which members of the committee’s Risk Exposures Subgroup will provide an overview of the forthcoming Quantifying Risk Exposures for Own Risk and Solvency Assessment Reports practice note. Registration details will be announced soon.
Upcoming Events
Registration Open for Casualty Loss Reserve Seminar: The 2016 Casualty Loss Reserve Seminar (CLRS) and Workshops, jointly sponsored by the Academy and the Casualty Actuarial Society, will be held Sept. 18-20 in Chicago. Plan to attend the CLRS to stay current with industry developments and learn from expert analysis of innovation in reserving. For registration information, email arc@casact.org or visit the CLRS website.
Big Data Professionalism Webinar Set for June 28: The Academy will host a professionalism webinar on Tuesday, June 28, from noon to 1:30 p.m. EDT, on Big Data. The presenters—Academy President-Elect Bob Beuerlein; Ross Winkelman, a member of the Actuarial Standards Board; and Academy Senior Property/Casualty Fellow Jim MacGinnitie—will discuss professionalism aspects of using Big Data in the life, health, and P/C practice areas, and explore how actuaries can apply the Code of Professional Conduct, actuarial standards of practice, and other professionalism tools to address issues that may arise when working with Big Data. Register today.
Biggest Discount Ends June 30 for Annual Meeting and Public Policy Forum: Register now for the Academy’s 2016 Annual Meeting and Public Policy Forum, to be held in Washington, D.C., Nov. 3-4. The Academy’s annual signature event will give you an in-depth look at top public policy and professionalism issues facing the actuarial profession, and the opportunity to interact with policymakers and other stakeholders. Program details will be released soon, and the event will include a reception, dinner, and entertainment. Visit the Annual Meeting page to learn more, including how to register and where to stay. Extra-early discounts end June 30, so register today for the lowest rates.
Life and Health Qualifications Seminar Set for November: The lowest registration rates are also still available for the 2016 Life and Health Qualifications Seminar, to be held Nov. 13-17 in Arlington, Va. (Washington, D.C., metro region). Seminar topics will include health insurance valuation; premium, loss, expense, and contingency reserves; risk-based capital; and professionalism. Register today to reserve your space.
Professionalism Outreach
Council on Professionalism member Mike Ward co-presented a session on “Professionalism and the AAA Qualification Standards” at the Actuaries’ Club of the Southwest’s Spring Meeting in Fort Worth, Texas, on Friday. The presentation provided insights into the definition of a profession and the personal commitment necessary to be a professional, as well as general and specific qualification requirements under the U.S. Qualification Standards.
Public Policy Activities
The Joint Academy Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue and preneed mortality to the NAIC Life Actuarial Task Force.
The Solvency Committee and several other Academy life, health, and casualty work groups submitted comments to the NAIC’s Operational Risk (E) Subgroup on its Operational Risk 2016 Factors exposure document.
In the News
A Military Times report on the Pentagon’s new initiative to educate service members about changes to the military’s pension system cites the Pension Practice Council’s concerns about the use of personal discount rates to calculate lump-sum payments under the National Defense Authorization Act for Fiscal Year 2016. The piece can be read in Air Force Times, Army Times, Marine Corps Times, and the Navy Times.
A columnist for the Rural Health News Service cited the Academy’s analysis of 2017 premium drivers in a feature story that explores how premium and subsidy fluctuations under the Affordable Care Act have affected policyholders in the Midwest region. The story was published by local media outlets in Illinois, Indiana, and elsewhere.
The Pension Committee’s comment letter to the IRS and Treasury Department requesting that the 2017 Applicable Mortality Tables be issued as soon as possible was featured in BenefitsLink.com’s Retirement Plans Newsletter.
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