Keeping You in the Know—Recent Academy Activity, Feb. 28 – March 4, 2022
Celebrating Women in Actuarial Leadership Forum Next Week
In conjunction with Women’s History Month—and with 2022 marking the first time all five U.S. actuarial associations concurrently have had women in presidential roles—the Conference of Consulting Actuaries (CCA) will host “Celebrating Women in Actuarial Leadership: A Panel Discussion” next week.
Participating will be Academy President Maryellen Coggins, along with Kathy Antonello, Casualty Actuarial Society; Jennifer Gillespie, Society of Actuaries (SOA); Ellen Kleinstuber, CCA; and Virginia Wentz, American Society of Enrolled Actuaries. Moderating will be Tonya Manning, former president of SOA and the International Actuarial Association.
The event—to be held next Wednesday, March 9, at 11 a.m. EST—is free and open to the public—register here.
Issue Brief Examines Social Security Retirement Age Reform Options
The Social Security Committee released an issue brief, Raising the Social Security Retirement Age, which looks at the potential effect of raising the Social Security normal retirement age—the earliest age at which unreduced Social Security benefits are paid. “Raising the normal retirement age may be considered as part of a reform package in addressing the increased costs to Social Security as a result of greater longevity,” said committee chairperson Amy Kemp. Read the Academy news release.
Next Week—Capitol Forum Webinar on Retirement Issues
Join the Academy next week for “Capitol Forum: Dialogue with DOL on a National Retirement Income Policy,” a webinar that will feature a conversation with Ali Khawar, U.S. Department of Labor (DOL) acting assistant secretary of the Employee Benefits Security Administration, and will look at retirement policy issues. Former Retirement System Assessment and Policy Committee Chairperson Eric Keener will moderate, and current chairperson Claire Wolkoff will join the discussion. The webinar will be held on Thursday, March 10, from 2 to 3 p.m. EST. Register today.
Registration Open for March 17 Wildfire Risk Webinar
Registration is open for “Wildfire Lessons Learned and State of Wildfire Risk Modeling,” a webinar presented by the Academy’s P/C Extreme Events and Property Lines Committee that will feature a discussion of the recently released Wildfire: An Issue Paper—Lessons Learned from the 2017-2021 Events. Speakers will discuss wildfire peril, the importance of mitigation methods, and the impacts of climate change and the current effects of recent wildfire seasons on the insurance industry and policyholders, and will provide a review of recent regulatory actions and potential public policy responses.
Presenters will be committee members Howard Kunst and Dave Evans (who gave a recent Q&A on the topic in the Academy’s Casualty Quarterly newsletter), and committee member and past Academy President Shawna Ackerman will moderate. The webinar will be held on Thursday, March 17, from noon to 1:30 p.m. EDT. Register today.
Volunteer Action Required: Commitment to Professional Objectivity
Committing on an annual basis to professional objectivity is required to perform volunteer work for all those who participate in Academy committees. Al Bingham, vice president of professionalism and education, reminded Academy volunteers via email Monday to submit a conflict of interest (COI) acknowledgment and a continuing education (CE) attestation. If you are a volunteer or interested party, follow the instructions in the email or on the membership page (see “Volunteer Acknowledgments” under Volunteer Resources). For more information about the Academy’s commitment to professional objectivity, please visit the Professional Objectivity at the Academy page.
Recently Released
In the March/April Contingencies, “At the Dry-Erase Board” covers how an enterprising company can provide small-amount life insurance to individuals with low and extremely variable income; “Taking Stock: The Feeling Is Mutual” notes that insurance company ownership structure is a strategic decision; and “‘Dr. Robot Will See You Now’” shows how nimble companies are using artificial intelligence and machine learning to improve patient outcomes. Plus, a President’s Message on standards in practice, a Commentary selection on seeking meaning and finding God, and an Up to Code article on risk to the actuary. Published alongside the issue is the “Job Seeker” supplement—read about tools that can help innovative actuaries face unique professionalism challenges. And be sure to check out the salary survey.
The February Actuarial Update covers the Academy’s input into implementation of Colorado’s new insurance anti-discrimination law. Also in the issue: The Actuarial Standards Board adopted a revision to Actuarial Standard of Practice (ASOP) No. 4 and the Academy is planning a spring webinar on the ASOP; the Cyber Risk Task Force updated its Cyber Risk Toolkit; the Academy welcomed more than 400 members in the second half of 2021; and the “Professionalism Counts” column looks at “Keeping Up With the ASOPs.”
Public Policy in Action
The Economic Scenario Generator Work Grouppresented to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on model office testing scenarios of the new economic scenario generator.
Visit the Public Policy page to stay on top of the latest news and activities.
An AARP story on strengthening Social Security quoted Social Security Committee Chairperson Amy Kemp on longevity increases as a factor impacting the system’s financial condition.
Portail de L’Assurance (Canada) reported on the latest data release of the Actuaries Climate Index, jointly sponsored by the Academy and other actuarial organizations, which provides a quarterly gauge of changes in extreme weather events and sea levels.
Coming Next Week—Health ‘Hill Visits’
Follow us on Twitter and Facebook for updates from next week’s “Hill Visits.” Health Practice Council members will be meeting virtually from Capitol Hill with federal lawmakers, policymakers, and staff.
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