The Casualty Practice Council submitted comments on the Casualty Actuarial Society’s Statement of Principles on P&C Ratemaking revised draft.
The Academy published PBA Perspectives to provide quarterly updates on activities surrounding the implementation of the Principle-based Approach (PBA) for life insurance. The newsletter includes reports on legislative, regulatory, and Academy activity relating to PBA. PBA Perspectives will also provide updates on state legislative adoption of the new principle-based methodology.
The Health Practice Financial Reporting Committee submitted comments to the NAIC’s Statutory Accounting Principles Working Group on its new accounting proposal for the risk-sharing programs of the Affordable Care Act.
Academy Senior Life Fellow Nancy Bennett gave a presentation on regulatory capital requirements for U.S. life insurers to the Financial Stability Oversight Council Insurance Industry Work Group.