The Academy’s Asset Modeling and Reporting Task Force submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force (LATF) on LATF’s exposure of a draft Actuarial Guideline on asset adequacy testing.

The Academy’s Index-Linked Variable Annuity Work Group submitted comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure of a draft Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts.

The Academy’s Annuity Reserves and Capital Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding longevity reinsurance and longevity swaps.

Several annotations to Precept 10 of the Code of Professional Conduct—which addresses courtesy and professional respect—provide more detail about some of the difficult situations an actuary may face and how to handle them.

The Spring Life Perspectives leads with a Q&A on a new practice note, Long-Term Care Life Insurance Combination Product Valuation, with Robert Eaton, chairperson of the work group that developed the practice note. Also in the issue, a preview of two life-related webinars coming in May, Life Practice Council committee comments to the NAIC, a new VM-21 practice note supplement, and recent legislative and regulatory activity.

In the May/June Contingencies, read about “The COVID Connection”—how the pandemic has affected (and will continue to affect) the life insurance industry. Also, “The Great Unwinding” covers what happens to the millions of people who became eligible for Medicaid amid the pandemic when the federal public health emergency ends; “Explaining Professionalism to Principals” explains why actuarial professionalism is so important—not just for actuaries, but for all stakeholders involved in actuarial services; and “Thoughts on Social Security,” which offers an intriguing option for reform.

The Academy is seeking proposals from qualified vendors to produce its annual Life and Health Valuation Law Manual. Proposals are due by June 15, 2022. 

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