Public Policy Webinars

Valuing Gender Expansive Data in Pension Plans

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A new issue brief released by the Pension Committee, Valuing Gender Expansive Data, examines issues pension actuaries might consider when performing an actuarial valuation using sex/gender expansive data—data on sex/gender that is either missing or nonbinary. This webinar will present topics from the issue brief, which also discusses several possible approaches to handling such data and setting reasonable actuarial assumptions.

PBR Bootcamp: Hedge Modeling

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The Valuation Manual requires that all hedges be modeled. Are you prepared for this? The webinar discussed:

• Differences in types of hedges, including
  • Variable annuity with guaranteed lifetime withdrawal benefit
  • Indexed universal life
  • Fixed indexed annuities
  • Registered index-linked annuity/Index-linked variable annuity
  • Clearly Defined Hedging Strategy (CDHS) vs. non-CDHS
• Hedge effectiveness
• Error testing
• Real-world hedging versus models

P/C Public Policy Update—Summer 2023

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Hear updates from the Casualty Practice Council on the latest public policy developments and the Academy’s work in these areas. Topics to be covered include:

• A recap of what was discussed during the property and casualty-focused meetings at the NAIC National Meeting in Seattle;
• A soon-to-be released P/C Risk-Based Capital Committee report to the NAIC; and
• An update on the P/C Committee on Equity and Fairness' recent engagement with Colorado and Washington, D.C, regulators on bias and discrimination in automobile insurance.

Attendees will gain insights on relevant and upcoming P/C issues that may impact their work.

PBR Bootcamp: Combination Products

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Both life insurance and annuity products may include health care benefits, such as long-term care or critical illness benefits. This webinar will discuss:

• Options for reserving VM-20 and VM-21;
• Assumption development;
• Impact of modeling and assumption decisions; and
• NGEs.

Holy Moly, Let’s Talk COLI

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Corporate-owned life insurance (COLI) is a niche product with some unique features for the buyer and the seller. This webinar provided a baseline understanding of the history of COLI, what COLI is and is not, general product information and how COLI works, as well as some actuarial considerations pertaining to COLI product development and maintenance. The panel discussed COLI and took questions to give the audience an introduction to COLI.

PBR Bootcamp: Liability Modeling

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The PBR Bootcamp series continues with a discussion of liability modeling. During this session, our dynamic speakers covered the following topics:

• General modeling considerations;
• Differences between VM-20 and VM-21;
• Deterministic vs. stochastic reserves;
• VM-20 exclusion tests;
• VM-21 Standard Projection Amount (SPA);
• Links between liability and asset assumptions;
• Modeling Non-Guaranteed Elements (NGEs); and
• Recent updates to the Valuation Manual.

Drivers of 2024 Health Insurance Premium Changes

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In this virtual briefing, members of the Individual and Small Group Markets Committee of the American Academy of Actuaries’ Health Practice Council highlighted the drivers affecting premiums for 2024. They provided an overview of the major drivers and discuss why premiums could differ, and walk through the factors actuaries might consider in the premium rate-setting. They explored several possible drivers of changes in health insurance premiums, including:

• Shifting payment responsibilities for COVID-19 testing and vaccines;
• Shifting of small groups from fully insured plans to other funding arrangements;
• Resumption of Medicaid eligibility redeterminations by states; and
• Inflation.

Insurance Fraud: Perspectives from the Market, Government, and Actuarial Profession

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According to the FBI, the total cost of insurance fraud (non-health insurance) is estimated to be more than $40 billion per year, which equates $400 and $700 per year in the form of increased premiums for the average U.S. family. Insurance fraud impacts affordability of insurance with considerations for pricing and underwriting. During this webinar, attendees learned more about insurance fraud and its impacts on property and casualty insurance, as well as external resources and other fraud related information.

PBR Bootcamp: Liability Assumption Development

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The following topics will be covered by our speakers:

• Mortality, including HMI/FMI, excess mortality, and VM-20 vs VM-21 considerations);
• Policyholder behavior (PHB), including Materiality, required assumptions, differences between life and annuity products, and interaction between PHB and market environment;
• Credibility;
• Data sources;
• Anticipated experience vs prudent estimates;
• Margins;
• Revenue sharing;
• COVID; and
• Reporting.

Overview of CMS’ New Proposed Rules for Ensuring Access to Medicaid Services, and Managed Care Access, Finance, and Quality

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A valuable benefit of Academy membership is free and unlimited access to the Council on Professionalism’s entire—and growing—library of professionalism webinars, which date back to September 2007.