The Life Reserves Work Group submitted a revised APF to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.

The C1 Work Group submitted a comment letter to the NAIC Valuation of Securities Task Force on their proposal to add comprehensive instructions for fund investments to the Purposes and Procedures Manual. 

The Long-Term Care & Disability Committee sent comments on proposed legislation to add a long-term care benefit to the Medicare program, evaluating in terms of financing, benefits, and coordination with other programs.

The Social Security Committee released an issue brief on the 2018 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.

Academy President Steve Alpert presented a session titled “Why Professionalism?” to about 100 attendees at the Actuaries Club of Philadelphia’s meeting on May 15, and Actuarial Board for Counseling and Discipline member David Driscoll delivered a professionalism presentation at the May 22 meeting of the Actuaries’ Club of Hartford & Springfield, in Hartford, Conn.

In “An SAO by Any Other Name,” Committee on Qualifications Chairperson Andrea Sweeny spells out why any actuary who is subject to the Code of Professional Conduct should clearly understand what a statement of actuarial opinion is. (Actuarial Update, May 2018)

Commenting on the Department of Labor’s final rule on association health plans released today, Academy Senior Health Fellow Cori Uccello said, “Expanding the availability of AHPs can lead to increased insurance options and lower premiums for some consumers, but higher premiums for others.” Read the news release.

The Summer Casualty Quarterly previews an Academy paper on catastrophe modeling in a Q&A with P/C Extreme Events and Property Lines Committee Chairperson Kay Cleary. Also in this issue, the Academy’s new Big Data monograph, a practice note and upcoming webinar on retained risk, and legislative and regulatory updates.