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Keeping you in the know—the latest news from the Academy
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RECENT ACADEMY ACTIVITY | April 22–26, 2024 |
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This Week … In a Minute
Have a minute? Catch up on the week’s top stories with the latest “This Week … In a Minute” video. Subscribe to our YouTube channel to receive alerts as they are released.
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VOLUNTEERS
Webinar Onboards New & Existing Academy Volunteers
The Academy hosted a Thursday webinar for all new and existing volunteers featuring President Lisa Slotznick, President-Elect Darrell Knapp, and Executive Director Bill Michalisin, covering governance, operations, organization-related topics, and more that are specific to the ongoing success and impact of the Academy’s volunteer initiatives. A recording of the webinar will be available soon for volunteers who were unable to participate.
The Academy would like to thank its dedicated volunteers for their tireless service—we couldn’t fulfill our mission to serve the public and the U.S. actuarial profession without you.
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PROFESSIONALISM
ASB Releases 2023 Annual Report
 The Actuarial Standards Board (ASB) released its 2023 Annual Report, which highlights the board’s accomplishments throughout the year. Last year the ASB adopted three revised actuarial standards of practice (ASOPs), approved four exposure drafts for comment, and introduced its 57th ASOP. In addition, the ASB continued development on 10 other new or revised ASOPs. The ASB also adopted a diversity, equity & inclusion (DEI) statement, recognizing the importance of diversity and inclusion in the development of ASOPs and in the recruitment of volunteers.
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EDUCATION & EVENTS
Deadline May 1—Register Now & Save $300 for June PBR Bootcamp
Early registration rates end next Wednesday, May 1, for the Academy’s popular PBR Bootcamp, back in person this year June 11–13 in Philadelphia. Offering a comprehensive look at hot topics in principle-based reserving (PBR), attendees will gain valuable insights on applying PBR and meeting implementation challenges, and will have the opportunity to ask experts questions directly. Secure your early registration discount and save $300—register today. Also, the hotel room block closes soon—be sure to book your reservation at Le Méridien Philadelphia.
CE Opportunities Next Week—P/C RBC, Discrimination Webinars
Gain valuable continuing education (CE) next week with two Academy webinars:
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P/C RBC, May 1—An Introduction to P&C Risk-Based Capital will feature members of the Property/Casualty Risk-Based Capital (RBC) Committee, who will provide a historical background on RBC, note recent developments, and detail recent Academy work on this issue. Register today.
Discrimination, May 2—In Discrimination: Considerations for Machine Learning, AI Models, and Underlying Data, members of the Data Science and Analytics Committee will explore algorithmic predictions and artificial intelligence (AI) models being used by insurance companies to develop personalized risk models when engaged in insurance pricing and underwriting—in which issues of fairness, discrimination, and social injustice may arise. Register today.
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OUTREACH & NEWS
Contingencies Web Exclusive Recognizes Academy Volunteers
April is National Volunteer Month, and a new Contingencies web exclusive, “Volunteer Value—Giving Back, Gaining Benefits,” features Academy volunteers who share their thoughts including what motivated them to become volunteers; the accomplishments they are most proud of; how volunteering has impacted their personal and professional growth; and advice they would offer to prospective Academy volunteers.
PBGC Director Hartogensis Concludes Term
Pension Benefit Guaranty Corporation (PBGC) Director Gordon Hartogensis will conclude his five-year term next Tuesday, April 30. The agency reports that, during his tenure, PBGC’s insurance programs have grown stronger than at any time in its 50-year history. In 2023, for the third consecutive year, both PBGC’s multiemployer and single-employer insurance programs reported positive net positions, and the overall net financial position from 2019 to date has improved by $102.6 billion. Read the PBGC news release.
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PUBLIC POLICY
‘Actuarially Sound’ Offers More on Hill Visits
The latest Academy Actuarially Sound blog entry offers more coverage on the Academy’s “Hill visits,” held earlier this month in the nation’s capital. More than two dozen volunteers took part in the April 18 and 19 sessions, in which they visited congressional offices, federal agencies, and stakeholder groups to discuss shared priority issues and highlight the plethora of resources the Academy offers to policymakers and other experts in the field.
Life Members: Your Feedback Requested
 If you haven’t done so already, please take a few minutes to share your feedback on Life Perspectives, the Academy’s quarterly newsletter for life actuaries. Let us know what content is most useful to you and what you’d like to see covered more. Take the survey now.
Public Policy in Brief
 Senior Health Policy Analyst Matthew Williams represented the Academy at the April 2024 Insurance Public Policy Summit in Washington, D.C., interacting with stakeholders including from the NAIC and other organizations.
The P/C Extreme Events and Property Lines Committee submitted a comment letter to the California Department of Insurance in advance of the department’s public workshop on its draft regulation that would modify state law to allow for catastrophe modeling to be used for wildfire, terrorism, and flood lines of homeowners and commercial insurance lines.
Visit the Public Policy webpage to stay on top of the latest news and activity.
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 Events Calendar
Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings.
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Coming Next Week—Contingencies, Actuarial Update
The April Actuarial Update, coming Tuesday, April 30, has expanded coverage of the Academy’s Hill visits, and the opening of nominations for this year’s Academy annual service awards. The May/June issue of Contingencies—also coming Tuesday—leads with “Election Issues 2024: The Academy Weighs In,” highlighting the Academy’s objective, public policy focus and nonpartisan analysis of the issues that Americans care about.
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