NAIC Approves Health Solvency Subcommittee Request on Incorporating Investment Income Into RBC Formula
The NAIC’s Health Risk-Based Capital (E) Working Group approved a request to the Academy’s Health Solvency Subcommittee for Analysis to Incorporate Investment Income into the Underwriting Risk Component of the health risk-based capital (RBC) formula. The working group requested a response from the subcommittee by Oct. 21.
C-2 Work Group Presents Update to NAIC's Life Risk-Based Capital (E) Working Group
C-2 Mortality Work Group presented an update to the NAIC's Life Risk-Based Capital (E) Working Group reviewing the C-2 overall approach and current risk-based capital (RBC) factors.
Academy Letter to NAIC Addresses Diversity and Inclusion
Academy President D. Joeff Williams sent a letter on behalf of the Academy to the National Association of Insurance Commissioners (NAIC) offering comments to NAIC’s Special Committee on Race and Insurance. “It is of the utmost importance for all stakeholders to engage in a public discourse on race, diversity, and inclusion in the insurance sector,” the letter stated.
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.
The Academy’s Board of Directors has approved the release of an exposure draft of revisions to the currently effective Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (USQS). The comment deadline for the exposure draft is Oct. 30.
In the September/October issue of Contingencies, the cover story, “Following the Money—The Future of Cash,” takes a look at physical currency, and whether the conventional method of payment may be on the way out. Other features include “On Target—Pursuing the Quadruple Aim in Health Care,” which takes aim at reducing costs in health care; and “Dire Diagnosis,” which asks if Is life underwriting equal to the current moment. Plus, a President’s Message from Academy President D.
Professionalism Webinar: ‘In Times of Uncertainty, Professionalism Is Certain’
Six Academy past, present, and future presidents presented at the Aug. 20 professionalism webinar, “In Times of Uncertainty, Professionalism Is Certain,” covering a range of issue from the COVID-19 pandemic to the Code of Professional Conduct and some of the Code’s key precepts.
The August “Professionalism Counts” looks at the Applicability Guidelines for Actuarial Standards of Practice (ASOPs) and how the guidelines are an effective tool to help actuaries determine which ASOPs apply to a given situation. (Actuarial Update, August 2020)
