The Intersector Group published notes from its May 2021 conference call with the Treasury Department and Internal Revenue Service.

Academy President Tom Campbell asks members to take the 2021 Academy Volunteer Survey which is available on the members-only section of our website.

The American Academy of Actuaries’ Committee on Qualifications (COQ) has approved the release of a second exposure draft of the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS). This document is intended to replace the Qualification Standards (including Continuing Education Requirements) for Actuaries Issuing Statements of Actuarial Opinion in the United States that took effect Jan. 1, 2008.

The July/August issue of Contingencies dives deep into the world of puzzles—thorny theoretical head-scratchers, real-life challenges, and statistical stumbling blocks. The cover feature story, “The World’s Most Challenging Math Problems,” looks at seven elusive puzzles have tormented mathematicians for years … do you have what it takes to solve them? In “Hurricane Season No. 39,” read about the human and logistical hurdles the author had to puzzle through after Puerto Rico was hit by back-to-back monster cyclones in 2017.

The June Actuarial Update covers the release of an exposure draft of the U.S. Qualification Standards (USQS), as approved by the Academy’s Committee on Qualifications. The exposure period ends Aug. 20. Also in the issue: Two vice president candidates and three regular director nominees were announced; raise your hand to serve the profession via the Academy’s Annual Volunteer Survey; pension volunteers and Academy staff met with Rep.

The Actuarial Standards Board (ASB) has been very busy in recent months in the last year: About 20 of the 52 actuarial standards of practice (ASOPs) that are currently in effect are being revised. In addition, two new standards are being developed, and one actuarial compliance guideline will likely be converted into an ASOP. Most reading this are not a member of the ASB or one of its committees or task forces, but you should know you do have a role to play in this process.

RMFRC’s Data Science and Analytics Committee (DSAC) submitted comments in response to a joint request for information and comment from several federal agencies regarding financial institutions’ use of artificial intelligence (AI) and machine learning. The DSAC letter provided actuarial insights into the use of AI in the insurance sector.