‘More Tales From the Dark Side’ Professionalism Webinar Covers ABCD Issues
At the Academy’s final professionalism webinar of the year, “Friday the 13th: More Tales From the Dark Side,” presenters offered several case studies based on matters that have been before the Actuarial Board for Counseling and Discipline (ABCD). In addition to a primer on how the ABCD operates, including a mock hearing, ABCD members David Driscoll and Godfrey Perrott described the reference points actuaries should look to in each case to stay on the right side of the Code of Professional Conduct. In their concluding thoughts, the speakers emphasized the importance of being familiar with key professionalism documents. They also recommended submitting a request for guidance to the ABCD if you are up against a professionalism problem. “It’s your lifeline as an actuary,” Perrott said. Academy General Counsel and Director of Professionalism Brian Jackson moderated. Slides and audio will be available to logged-in Academy members next week.
Monday Webinar to Look at Working With Auditors—Register Today
There’s still time to register for Monday’s webinar, “Working With Auditors: Stories From Inside the Audit Engagement.” Panelists—including individuals who routinely support audit engagements and actuaries serving as valuation actuaries for their clients—will provide background on the standards that guide audit engagements and how those influence the work of auditors and actuaries when supporting an audit engagement. They will draw upon the newly released Working With Auditors of Pension and OPEB Planspractice note, which provides actuaries with productive insights as they engage in conversations with auditors. Continuing education credit and JBEA non-core continuing professionalism education credits will be available. The webinar will be held on Monday, Dec. 16, from noon to 1:30 p.m. EST. Register today.
Academy Wraps Up NAIC Meeting Presentations
The Academy wrapped up presentations at the NAIC Fall National Meeting in Austin, Texas, including discussions with regulators at the Academy-hosted professionalism breakfast last Saturday, Dec. 7, at which Academy President D. Joeff Williams, Immediate Past President Shawna Ackerman, Actuarial Standards Board Chairperson Kathy Riley, Actuarial Board for Counseling and Discipline member David Ogden, and Tom Campbell, Academy president-elect and member of the Committee on Qualifications, presented to a full room of state regulators, covering a variety of professionalism topics. A full report on the NAIC meeting will be issued through an Academy alert next week.
Available for Order: P/C Loss Reserve Law Manual
Updated for 2019, the Academy’s P/C Loss Reserve Law Manual is designed to help appointed actuaries know the NAIC annual statement requirements for statements of actuarial opinion. The manual contains a compilation of insurance laws relating to P/C loss and loss expense reserves for all 50 states; Washington, D.C.; and Puerto Rico. It is designed to allow users to directly access each jurisdiction’s laws, making it a useful reference tool for actuaries. The manual will be available for delivery this winter. Order today.
PBR Boot Camp Covers Key Life Topics
A capacity crowd attended Academy’s PBR Boot Camp in Austin, Texas, this week, covering aspects of principle-based reserving (PBR) for life-practice actuaries. The three-day seminar featured more than 20 dynamic, interactive sessions and was led by an expert faculty experienced with the new PBR procedures. New in this iteration of the Boot Camp was a robust discussion and updates on the recently adopted changes to variable annuity valuation. Overall, attendees received targeted information and participated in intensive, focused discussion groups, sharing insights and learning from others’ experience of PBR in their practice.
Recently Released
The December HealthCheck covers Academy activity and presentations at the recent NAIC Fall National Meeting in Austin, Texas, including on long-term care insurance, and an update on Academy work on issues such as social determinants of health, Medigap, surprise billing, and health savings accounts. Also in the issue, legislative, judicial, and regulatory updates from the Centers for Medicare & Medicaid Services, and more.
Early Discounts Available for 2020 Enrolled Actuaries Meeting
Registration is open for the 2020 Enrolled Actuaries Meeting, to be held March 29–April 1 in Washington, D.C. Jointly sponsored by the Academy and the Conference of Consulting Actuaries (CCA), the 45th annual EA Meeting will follow the new format introduced in the past few years, with shorter sessions on key retirement and pension issues that will provide you with more EA credit opportunity. Academy and CCA members who register online or postmark their registration by Dec. 31 will receive the lowest rates. Register today.
Alerts
The House of Representatives passed a bill Thursday that would take measures to lower prescription drug costs by requiring the Centers for Medicare & Medicaid Services to negotiate prices for certain prescription drugs. H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act of 2019, would expand the authority of the secretary of Health and Human Services to negotiate a minimum of 50 and maximum of 250 commonly utilized medicines for the Medicare program and the private market. Read the Academy alert.
Public Policy Activity
The Academy released a practice note, Working With Auditors of Pension and OPEB Plans, prepared by the Pension Committee of the Pension Practice Council to provide actuaries with insights on engaging productively with auditors.
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