“A News Year’s Worth of Professionalism Resources” highlights the Academy’s publications and professionalism webinars, continuing education opportunities, the Code of Professional Conduct, the Actuarial Standards Board’s actuarial standards of practice, the U.S.
The Academy released its 2016 P/C Loss Reserve Law Manual, which is updated from 2015 and designed to help appointed actuaries comply with NAIC annual statement requirements. The manual includes SAO requirements and state laws and regulations establishing requirements; annual statement instructions for the SAOs for P/C, title loss, and loss expense reserves; and other pertinent annual statement instructions.
The December Actuarial Update covers the Health Practice Council’s letters to Congress cautioning against repealing the Affordable Care Act without having a viable replacement plan in place, which received widespread media attention. Also included are the Academy’s professionalism and public policy presentations at the NAIC Fall 2016 National Meeting; the Dec.
The Pension Cost Work Group released an issue brief, Alternatives for Pension Cost Recognition—Implementation Approaches Using Bond Models, that explores potential approaches for determining pension costs.
The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
The Property and Casualty Risk-Based Capital Committee and the Health Solvency Subcommittee jointly submitted to the NAIC's Operational Risk Subgroup a comment letter on proposed changes to the operational risk factor in risk-based capital formulas for property/casualty and health.
