Keeping you in the know—the latest news from the Academy
RECENT ACADEMY ACTIVITY | Feb. 27 – March 3, 2023
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 new videos are released.
Contingencies, Actuarial Update Released
Two Academy publications were released this week.
The March/April issue of Contingencies includes a cover feature story on the Academy’s new Social Security Challenge, which is set for release next week. Plus, Ken Kent’s President’s Message on “An Overflowing Toolbox,” and an Up to Code piece by Academy Past President Shawna Ackerman, “That’s So Meta.”
The February Actuarial Update notes it’s time for Academy volunteers and interested parties to submit COI/CE acknowledgments; previews a new public policy research award; and the “Professionalism Counts” column on “Connecting the Dots: Relevant CE, Look in the Mirror, and Self-Regulation.”
P/C Issue Brief Addresses Bias Issues
A new issue brief from the Casualty Practice Council’s Committee on Equity and Fairness, Approaches to Identify and/or Mitigate Bias in Property and Casualty Insurance, provides a survey of methods aimed at helping to identify and/or mitigate unfair discrimination and unintended bias in rating for P/C lines, and notes the increasing amount of activity in legislation and regulation in this area.
Cyber Risk Toolkit Offers Easier Navigation
The Cyber Risk Toolkit—developed in 2021 by the Committee on Cyber Risk and updated several times since then—has a new introduction, and the toolkit is now split into sections for ease of use.
Member Spotlight—Evan Palumbo
The most recent Academy Member Spotlight profiles Evan Palumbo, a P/C reinsurance actuary and a recipient of the Academy’s inaugural Rising Actuary Award presented at last year’s “Envision Tomorrow” annual meeting.
When asked what he valued most about his Academy membership, Palumbo said, “The Code of Conduct is the gold standard when it comes to professionalism and ethics. Being a member of the Academy means upholding those standards each and every day. My membership in the Academy has instilled in me this mentality and has had a tremendous impact on how I operate in work and in life.”
Read more about Palumbo, including his musical pursuits, on the Member Spotlight page, part of the “Professionalism First” hub.
Academy to Co-Host Climate Webinar Series With NOAA, NSF
The Academy, in cooperation with the National Oceanographic and Atmospheric Administration (NOAA) and the National Science Foundation (NSF), will be hosting three webinars designed to foster a conversation about the intersection of catastrophe (“cat”) and climate modeling. The webinars are scheduled for March 20, April 17, and May 15. Read more about this series in the February Actuarial Update (p. 3). Please email Director of Research Steve Jackson (sjackson@actuary.org) for an invitation.
Upcoming Life, Health Webinars Offer CE Opportunities
Register for the Academy’s upcoming life and health webinars, offering valuable continuing education (CE) credit.
The March 14 health webinar “The Great Unwinding: What’s Next for the Medicaid Population?” will examine the end of pandemic-era state Medicaid program continuous coverage requirements, and the scheduled end of the U.S. COVID-19 public health emergency in May along with concomitant effects on state Medicaid programs, enrollees, and enrollment shifts. Register today.
The April 4 webinar, “Assets: Regulatory Updates in Life Insurance,” will focus on assets—their risks and how regulators are responding to them through new regulations, including statutory accounting, reporting, designations, and capital requirements. Register today.
A reminder that the Actuarial Standards Board (ASB) comment deadline is May 1 on a second exposure draft of a proposed revision of Actuarial Standard of Practice (ASOP) No. 29, Expense Provisions for Prospective Property/Casualty Risk Transfer and Risk Retention. Information on how to submit comments can be found in the exposure draft.
Fed Insurance Policy Advisory Committee Includes Academy Member, Staff
Academy Director of Research Steve Jackson (center, back row), and ASB member Liz Brill (center, front/right of Jackson) were among six new members appointed to the Federal Reserve Board of Governors’ Insurance Policy Advisory Committee, which provides information, advice, and recommendations to the Fed on domestic and international insurance issues.
In the News
A Morningstar column cited the Academy’s educational tool, The Social Security Game.
A subscriber-only Risk.net article cited the Academy’s presentation to the NAIC on Collateralized Loan Obligations (CLOs).
Visit the Events Calendar for the latest updates to past and upcoming Academy offerings.
Coming Soon—Academy to Present at NCOIL, NAIC
The Academy, in its role as the national association for all actuaries practicing in the U.S., is preparing to engage this month with two national stakeholders—the National Association of Insurance Commissioners (NAIC) and the National Conference of Insurance Legislators (NCOIL). Volunteers and staff will present before these two bodies on a number of important public policy and professionalism topics; we will report on and link to their presentations.
PLEASE DO NOT REPLY TO THIS EMAIL. THIS EMAIL ADDRESS IS NOT MONITORED.
To update your Academy email communication preferences, please login and update your Academy member profile.
1850 M Street NW • Suite 300 • Washington, DC 20036 • 202.223.8196 • www.actuary.org
Copyright 2023 American Academy of Actuaries. All rights reserved.