Risk Management & Financial Reporting
The Academy’s Risk Management and Financial Reporting Council (RMFRC) serves as a trusted source for objective technical insights, and guidance for policymakers and regulators.
RMFRC is dedicated to illuminating decisions and redefining the standards of excellence in the ever-evolving world of Risk and Finance.
Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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Data Science Toolkit
DSAC’s Data Science Toolkit offers a series of resources related to data science, including defining big data, data bias, correlation and causation, emphasizing how they may affect actuarial modeling, and consumer experience.
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Enterprise Risk Management
Issues related to ERM encompassing property/casualty, life, and health actuarial practice areas.
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Federal Insurance Regulation/Systemic Risk
Regulation of insurance by the federal government or as a systemic risk to the economy.
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Financial Reporting/International Accounting
Global financial reporting issues that affect multiple areas of actuarial practice.
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Solvency/Reinsurance
Solvency, risk management, and reinsurance issues impacting various actuarial practices globally.
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Risk Management & Financial Reporting News
Uncategorized
ASB Approves Third Exposure of Proposed ASOP on Estimating Future Costs
The ASB recently approved a third exposure draft of a proposed new actuarial standard of practice (ASOP) titled Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk…
Topics: ASB News
Date Published: 02/08/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 23
The ASB recently adopted a final revision of Actuarial Standard of Practice (ASOP) No. 23, Data Quality. The ASOP provides guidance to actuaries when selecting data, performing a review of data,…
Topics: ASB News
Date Published: 01/18/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 24
The ASB recently adopted a final revision of ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. The ASOP provides guidance to actuaries when performing professional…
Topics: ASB News
Date Published: 01/06/2017
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Risk Management & Financial Reporting Resources
Comment / Letter
Comments on Reinsurance Thresholds in the Disclosure of Material Transactions Model Act #285
The Reinsurance Work Group submitted comments in response to the NAIC Financial Condition (E) Committee’s memorandum of Model Act #285.
Comment / Letter
Comment Letter to NAIC on Reinsurance Recapture
The Reinsurance Work Group submitted comments in response to the NAIC Life Risk-Based Capital (E) Working Group’s referral on developing a reinsurance recapture RBC factor.
Comment / Letter
Comments on RBC Gaps and Inconsistencies Exposure
The Cross-Practice RBC Task Force commented on the NAIC’s RBC Model Governance (EX) Task Force exposure of potential gaps and inconsistencies for prioritization. The Academy included a summary of…
Comment / Letter
Possible Structure Exposure Comment Letter
Leadership from RBC-related Academy committees provided some priority considerations in response to an NAIC RBC Model Governance (EX) Task Force exposure on proposed RBC oversight structures.
Comment / Letter
GIC Exposure Comment Letter
The Annuity Reserves and Capital Subcommittee submitted comments to the NAIC’s Life Actuarial (A) Task Force on VM-22 Application to GICs, Funding Agreements, SGICs, and Stable Value Contracts.
Comment / Letter
Exposure of Proposed RBC Preamble Revisions Comment Letter
The Cross-Practice RBC Task Force submitted comments on the NAIC’s exposure of proposed revisions to the RBC Preamble.
Comment / Letter
RBC Model Governance Task Force Gap Analysis Considerations
The Cross-Practice Risk-Based Capital Task Force submitted comments in response to the NAIC Risk-Based Capital Model Governance (EX) Task Force’s request for comments on RBC gap analysis…
Comment / Letter
Comment Letter to NAIC on IMR Impact to Reinsurance
The Reinsurance Working Group submitted comments to the NAIC Statutory Accounting Principles (E) Working Group on the SAPWG 2025‑22 exposure draft regarding IMR impacts on reinsurance collateral….
Comment / Letter
XR013 Investment Income Adjustment Stand-alone Factor
In response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group, the Health Underwriting Risk Factors Analysis Work Group submitted a comment letter on the XR013 Investment…
Topics: Risk-Based Capital
Comment / Letter