Keeping you in the know—the latest news from the Academy
CPC Presentation at CAS Spring Meeting
Academy Casualty Policy Analyst Rob Fischer, Senior Fellow Rich Gibson, and Will Davis of the South Carolina Department of Insurance presented at the Casualty Actuarial Society's Spring Meeting on current and future public policy considerations, covering how the current legislative and regulatory environment continues to evolve and respond to changes in actuarial practice and the broader insurance and financial environments. The presentation covered topics including the NAIC, homeowners insurance, AI governance, the National Flood Insurance Program, and bias.
Committee Releases One-pager on 2024 Social Security Trustees Report
The Social Security Committee released Highlights from the 2024 Social Security Trustees Report, a one-page illustration detailing the latest annual report on the current and projected financial status of the trust funds.
Committee Releases Resource and Discussion Guide on Guaranteed Living Benefits
The Life Experience Committee released a resource and discussion guide, Utilization Assumptions of Guaranteed Living Benefits for Deferred Annuities. The guide suggests some reasons why there may be a cohort that never utilizes its guaranteed living benefits (GLBs). It also provides sources of information on how to develop reasonable assumptions regarding GLB withdrawals.
The Medicare Committee released an issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance, that examines the findings of the 2024 Medicare Trustees Report with respect to program solvency and sustainability.
Keeping you in the know—the latest news from the Academy
Casualty Practice Council Comments on ASOP No. 12 Exposure Draft
The Casualty Practice Council submitted comments on the exposure draft of Actuarial Standard of Practice (ASOP) No. 12, Risk Classification (for All Practice Areas).
ERM/ORSA Committee Comments on ASOP No. 12 Exposure Draft
The ERM/ORSA Committee submitted comments to the Actuarial Standards Board regarding the proposed revision of Actuarial Standard of Practice (ASOP) No. 12, Risk Classification (for All Practice Areas).
Subcommittee Comments to Variable Annuities Capital and Reserve Subgroup
The Variable Annuity Reserves and Capital Subcommittee sent comments to the NAIC’s Variable Annuities Capital and Reserve (E/A) Subgroup on the exposure draft of APF 2024-07 that proposes updates to the VM-21 Standard Projection Amount assumptions.
