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RECENT ACADEMY ACTIVITY | | |
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Only 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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ASB Releases 2024 Annual Report The Actuarial Standards Board (ASB) released its 2024 Annual Report, highlighting the ASB’s activity and standards-setting efforts, including adopting five revised actuarial standards of practice (ASOPs) and approving seven exposure drafts for comment. The ASB also adopted ASOP No. 58, Enterprise Risk Management, continued development of six other new or revised ASOPs, and approved a proposal to revise ASOP No. 1, Introductory Actuarial Standard of Practice. ICYMI: ABCD Annual Report—In case you missed it, the Actuarial Board for Counseling and Discipline (ABCD) also recently released its annual summary of activities, noting the ABCD’s handling of 96 requests for guidance and 12 inquiries.
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Next Week’s Free Webinar to Highlight Membership Benefits Join the Academy on Monday for a free membership webinar discussing the complete range of member benefits—from professional development opportunities to networking connections. This new webinar series aims to equip new members with an overview of essential Academy tools—including Academy Learning, through which you can access the Academy’s extensive library of live and on-demand educational content, and the Career Center, with free resources to advance your career. It will be held on May 12 from noon to 1 p.m. EDT. Register today.
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Reminder—Nominations Open for Member-Selected Directors, Academy Awards |
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Nominations remain open for Academy member-selected directors. Nominate a peer (or yourself) to join the Academy’s Board in November for a three-year term. Nominations are due May 19. For more information, visit the nominations page. - Academy Awards—Nominations are also open for the Academy’s annual service and recognition awards. Nominate your peers for the Rising Actuary Award, Robert J. Myers Public Service Award, Jarvis Farley Service Award, and the Outstanding Volunteerism Award. Nominations are due June 6. Read more and submit at actuary.org/awards.
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Academy Presents at CAS Spring Meeting Academy staff and volunteers attended the Casualty Actuarial Society (CAS) Spring Meeting May 4–7 in Toronto. Committee on Cyber Risk members Kathryn Koch, Isabelle McCullough, and Sam Tashima presented during a concurrent session and participated in a roundtable discussion session on “Cyber: Global Market Update and D&O Risk.” Academy volunteer leaders and staff were on hand to congratulate new CAS fellows and associates.
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Academy Member Speaks to Students About Becoming an Actuary |
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Academy member Natasha Dimitrienko volunteered at her children’s school in Illinois, introducing 5th and 8th graders to the actuarial profession, offering them materials supplied by the Academy including The Magic School Bus Takes a Risk, a custom-designed book for the Academy. This edition of the “Magic School Bus,” which is available for order, is designed to support math education in schools and the diversity of the actuarial profession, and to show students how math can take them on amazing journeys. Access the Academy’s Student Resource page to learn more about resources available to support students.
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Actuarially Sound Examines Tariffs and Auto Insurance |
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The latest Actuarially Sound blog post explores how the Academy is monitoring the potential impact of tariffs on automobile insurance rates. Academy In the News | | |
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Space Available for This Month’s Insurance Investment Summit There’s still space available for the Academy’s Insuring the Future: Insurance Investment Summit, to be held in New York City May 22–23, which will feature a wide range of panels, presenters, and informative perspectives. In addition to many networking opportunities, hear about investment strategies for offshore reinsurance; and navigating ALM strategies for long-dated liabilities. Join us in New York—register today. Members may use registration code LPCFRIEND to get $200 off.
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ASOP No. 2 Webinar Rescheduled to June |
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The Life Practice Council’s ASOP No. 2 Practice Note webinar that had been scheduled for this month has been rescheduled to June 24. Presenters will discuss key elements of the standard, which relates to non-guaranteed elements in life insurance and annuity products. Register today. | | |
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Public Policy in Brief - The Prudential Regulation Committee sent a comment letter to NAIC’s Capital Adequacy (E) Task Force on the re-exposure draft of Risk-Based Capital Revised Preamble, 2024-16-CA.
- The Life GAAP Reporting Committee submitted agenda requests to the Financial Accounting Standards Board (FASB) regarding the treatment of long-duration targeted improvements products under changing accounting guidelines; the application of accounting guidance for indexed annuity products; and the application of accounting guidance for funds withheld and modified coinsurance.
- The C-3 Subcommittee presented to the NAIC’s Life Risk-Based Capital (E) Working Group on additional considerations for plans to address C-3 alignment, including a possible field test in 2026.
- The Life Investment and Capital Adequacy Committee presented to the NAIC’s Life Risk-Based Capital (E) Working Group on correlation across factors for life risk-based capital.
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