Committing on an annual basis to professional objectivity is required to perform volunteer work for all those who participate in Academy committees. D. Joeff Williams, vice president of the Academy’s Council on Professionalism, outlined the policy with a request that volunteers and submit a conflict of interest (COI) acknowledgement and continuing education attestation as soon as possible. Interested parties must also acknowledge the COI policy.

The Joint P&C/Health Bond Factors Analysis Work Group submitted a discussion draft of a report on P/C and Health bond factors for consideration by the NAIC’s Joint Health RBC and P/C RBC Drafting Group. 

“New Standards for the New Year,” by Actuarial Standards Board (ASB) Chairperson Beth Fitzgerald, highlights several new actuarial standards of practice (ASOPs)—Nos. 51, 52, and 53—offering explanations behind their promulgation last year, and the role of the ASB’s committees and task forces in creating the ASOPs.

The January Actuarial Update covers the first webinar in the joint series by the Academy and the Canadian Institute of Actuaries, which outlined the organizations’ roles in their respective countries.

At its January meeting, the Academy Board of Directors updated its existing meetings policy to ensure that the objectivity and independence of the Academy continue in our public policy and professionalism work.

The Annuity Illustration Work Group submitted a comment letter to the NAIC's Annuity Disclosure (A) Working Group regarding proposed changes to the Annuity Disclosure Model Regulation (#245).

The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.