The Committee on Property and Liability Financial Reporting has released an exposure draft of a new practice note on retained risk. Comments are due by March 30.
It was the seventh consecutive season with an elevated seasonal value of above 1.5 while the five-year moving average remained at the high set in winter 2016-17, driven by sea level changes in the Atlantic and Gulf Coast regions. Read the news release.
The Academy is pleased to report that the Federal District Court in Washington, DC, late Friday, Jan. 12, granted in entirety the Academy's Motion to Dismiss the lawsuit filed by Timothy Sharpe. This is a significant victory upholding the validity of the profession's disciplinary process. You can read the decision here.
The Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.
The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01.
The January HealthCheck covers the Health Practice Council’s letter to Congress regarding the pending elimination of the Affordable Care Act’s individual mandate following passage of the new tax-reform law, the Department of Labor’s proposed rule on association health plans, the release of the Center for Consumer Information & Insurance Oversight’s 2019 Actuarial Value calculator and method