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Happy Holidays-Actuarial Update Coming Next Week
This Week will not publish next week; the December Actuarial Update will be released next Friday, Dec. 29. The Academy’s office will be closed Dec. 25 and Jan. 1 for the Christmas and New Year’s Day holidays-the Academy wishes our members, their families, friends, and associates a safe and happy holiday season.
‘Tales From the Dark Side’ Looks at ABCD Case Studies
“Tales From the Dark Side 2023,” held on Tuesday, was the latest installment in the popular professionalism webinar series covering case studies and requests for guidance (RFGs) from the Actuarial Board for Counseling and Discipline (ABCD). Presenters were ABCD Vice Chairperson William Hines and members Shawna Ackerman and April Choi, and Academy General Counsel and Senior Director of Professionalism Brian Jackson moderated. Three RFG case studies covered qualifications for signing an NAIC Health Annual Statement, working in different jurisdictions, and qualifications and advertising. Slides and a recording are available as a member benefit.
P/C Webinar Examines ASOP No. 20
“What’s New With ASOP No. 20?” a casualty webinar held on Monday, examined this P/C actuarial standard of practice (ASOP), Discounting of Property/Casualty Claim Estimates. Academy Casualty Vice President Amy Angell moderated. Slides and a recording are available as a complimentary member benefit.
Past Academy Board Member Ralph Blanchard Appointed to Fed IPAC
 Former Academy Board member Ralph Blanchard is among four new appointees to the Federal Reserve Board of Governors’ Insurance Policy Advisory Committee (IPAC), which provides information, advice, and recommendations to the Fed on domestic and international insurance issues. Blanchard was an Academy member-selected director and served on multiple committees, including several Actuarial Standards Board (ASB) committees and task forces. Continuing their terms as IPAC members appointed last year are Academy Director of Research (Public Policy) Steve Jackson and Liz Brill, whose term on the ASB ends Dec. 31. Read the Fed press release.
Place Your Order-P/C Law Manual Now Available
The Academy’s P/C Loss Reserve Law Manual is available for order. Make sure you have the latest requirements at your fingertips-place your order today for this vital reference tool.
Preorders are being accepted for the Life and Health Valuation Law Manual, which is anticipated to be available in January 2024.
ASB Approves ASOP No. 7 Exposure Draft-Submit Your Comments
 The ASB approved an exposure draft of a proposed revision of ASOP No. 7-Life, Health, or Property/Casualty Insurance Cash Flow Risk. The revision would apply to actuaries when performing actuarial services involving life or health cash flow risks, and to actuaries when performing actuarial services involving P/C cash flow risks specific to investments. The ASB is asking for specific input from each practice area, and the comment deadline is June 1, 2024. Information on how to submit comments can be found in the exposure draft.
Year-in-Review Academy Alert on Public Policy Issues
A year-in-review Academy alert offers highlights of 2023 state and federal legislative and regulatory actions affecting the U.S. actuarial profession and the Academy’s effort to fulfill its role to educate and support our stakeholders on these critical issues. It includes a Biden administration executive order on artificial intelligence, a climate resilience framework, the rollout of a national cybersecurity strategy, and regulations affecting life and health practice. Read the Academy alert.
 Committee Releases Issue Paper on Dynamic Lapses
The Life Experience Committee released an issue paper, Considerations Regarding Dynamic Lapses in Actuarial Modeling, which explores items that impact lapses and discusses the impact of dynamic lapses on various life and annuity products, offers sample formulas for use in modeling, discusses how predictive analytics could be an alternative approach to model lapse behaviors, and provides sources of information on lapses.
Recently Released
The Winter Life Perspectives covers the Envision Tomorrow life/pension cross-practice session on pension risk transfers; other life breakout sessions from the Academy’s annual meeting; incoming Board members including Life Vice President Jason Kehrberg; and legislative and regulatory activity.
In the News
Events Calendar Highlights-Webinars on Demand
Catch up on Academy webinars from this year by visiting the 2023 Events Calendar for a complete listing of events, including links to watch webinars on-demand.
 Save the date for this upcoming 2024 webinar:
Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings.
Job Seekers-Post Your Résumé in the New Career Center
Looking for a new job opportunity over the holidays? Be sure to post your résumé to the Academy’s new Career Center. It’s a one-stop shop for job seekers and employers looking to make a match. Also on the Career Center are resources for applicants; be the best applicant you can be with our specially tailored assets-the latest valuable benefit for Academy members.
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