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.


Additional Consideration in Data Science
A series of issue briefs providing a more complete, contextual view of important topics that arise in data science.
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Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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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 Resources
Comment / Letter
ERM/ORSA Committee Comments on NAIC’s “Draft Form A Review Best Practices” Exposure
mittee comments to the NAIC’s National Treatment and Coordination (E) Working Group on its “Draft Form A Review Best Practices” exposure document.
Comment / Letter
Comments on ORSA for Solvency Modernization Initiative
ERM Committee response to the NAIC on its consultation paper on Own Risk and Solvency Assessment (ORSA) for the Solvency Modernization Initiative.
Comment / Letter
P/C RBCC Response to NAIC Request on RBC Issues
P/C Risk-Based Capital Committee response to the NAIC’s request on risk-based capital issues.
Comment / Letter
Comments on Consultation Paper on Corporate Governance and Risk Management
ERM Subcommittee comments on the NAIC’s Solvency Modernization Initiative (EX) Task Force’s Consultation Paper on Corporate Governance and Risk Management.
Comment / Letter
Comments to NAIC on Financial Solvency Framework
Risk Management and Solvency Committee comments to the NAIC on its draft paper, United States Insurance Financial Solvency Framework.
NAIC Report
FS/RM Review of International Responses to Financial Crisis for LHATF
Letter from LFSRM to LHATF on the status of review of country specific regulatory responses to the financial crisis.
Comment / Letter
Comments on Non-Accounting Issues for Consideration in Solvency Modernization Initiative
Risk Management and Solvency Committee comments to the NAIC on its paper, Non-Accounting Issues for Consideration in the Solvency Modernization Initiative.
Comment / Letter
Comments to NAIC on Windows and Walls Memo
Risk Management and Solvency Committee comments to the NAIC on its draft memorandum, Windows and Walls Approach for Regulation of United States Based Insurers Operating within Corporate Groups.
Comment / Letter
Comments on Corporate Governance for Risk Management Act
Life Governance Team comments on the draft Corporate Governance for Risk Management Act that was re-exposed for comment by the NAIC’s Capital Adequacy Task Force.
NAIC Report