Keeping you in the know—the latest news from the Academy
RECENT ACADEMY ACTIVITY | May 1–5, 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 they are released.
Recently Released—May/June Contingencies Looks at AI; Casualty Quarterly
The May/June Contingenciescover story, “Artificial Untelligence,” delves into AI and concerns that the new ChatGPT may supplant human writing. “Lingua Mathematica” takes a deep dive into the language of models through the lens of metalanguage and applied category theory, and a third feature looks at whether the world is finally ready for nuclear energy. Also, Academy President Ken Kent’s President’s Message makes a case for employer support of the Academy; a Tradecraft piece on timing for entering a retiree longevity risk-sharing pool; and an Up to Code article on when to say “no.”
The Spring Casualty Quarterly leads with a Q&A with the Casualty Practice Council’s Committee on Equity and Fairness Vice Chairperson Susan Kent on the committee’s issue brief, Approaches to Identify and/or Mitigate Bias in Property and Casualty Insurance, who offers an incisive look into this important issue. And, recent P/C legislative and regulatory activity.
New—Health Webinar to Feature CCIIO Officials
A new health webinar, “2024 Final Rules for Exchanges,” will feature officials from the Center for Consumer Information and Insurance Oversight (CCIIO)—part of the Centers for Medicare & Medicaid Services (CMS)—who will offer insight on CMS’ recently released 2024 Notice of Benefit and Payment Parameters (NBPP) final rule and other materials, including the 2024 final actuarial value calculator. The NBPP finalizes standards for issuers and marketplaces and covers aspects of health insurance in the individual and small group markets. Academy Senior Health Fellow Cori Uccello will moderate the discussion. The webinar is set for Wednesday, May 17, from 3 to 4:30 p.m. EDT. Register today.
May CE Opportunities
Many continuing education (CE) opportunities will be available via this month’s Academy webinars. Relevant to actuaries in every practice area, the professionalism webinar “FAQs on the U.S. Qualification Standards” will delve into the many questions received on the USQS, including on experience, CE, and qualifications needed to sign NAIC annual statements. Upcoming practice-specific webinars include the PBR Bootcamp’s look at asset modeling, a discussion of the Medicare Trustees Report, and an exploration of the recently released Fixed Rate Pension Funding practice note. See the event listing below and full schedule in the online events calendar.
Actuary Voices Features IABA President and Academy Member Dwayne Husbands
The latest “Actuary Voices” features a conversation with Academy member Dwayne Husbands, who has been president of the International Association of Black Actuaries (IABA) since 2021. Husbands talks about growing up in Toronto, his professional evolution toward becoming a life and health consulting actuary, and how and why he became active volunteering with the IABA. Listen to Actuary Voices wherever you get your favorite podcasts.
Academy Updates Privacy Policy
The Academy has updated its privacy policy clarifying when and with whom we can share your personal information. Read the policy here. You may update your profile to opt out of data-sharing with any organization that is not directly providing services related to your membership, as well as add demographic information, here.
Webinar Takes Deep Dive Into Social Security Trustees Report
The Academy’s April 25 webinar, “Social Security Trustees Report: A Deep-Dive Discussion With the Program’s Actuaries,” examined the recently released trustees report and featured Social Security Administration Chief Actuary Stephen Goss and Deputy Chief Actuary Karen Glenn. They covered issues on the solvency of the Old-Age, Survivors, and Disability Insurance trust funds, and the need for changes to be made to extend the popular program’s long-term solvency. Read more here.
‘One-pager’—Ahead of its forthcoming issue brief on the status of the trustees report, the Social Security Committee released a one-page snapshot of the program’s financing challenges.
Public Employment Opportunity—HUD Senior Advisor
The U.S. Department of Housing and Urban Development is seeking a senior advisor for risk management and regulatory affairs in its Washington, D.C., office. Applicants must have at least one year of actuarial experience. The application deadline has been extended through May 17. For more information and how to apply, see the posting at USAJobs.
The Actuarial Foundation’s “Formula 2023 Virtual Gala: Multiplying the Power of Math & Diversity,” is next Thursday, May 11, from 6 to 7 p.m. EDT. Actress, author, and mathematics education advocate Danica McKellar will be the keynote speaker. Registration is free; click here for information and to register.
Public Policy in Focus
The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board on the second exposure draft of ASOP No. 29, Expense Provisions in Property/Casualty Insurance Ratemaking.
The Index-Linked Variable Annuity Work Group submitted a comment letter to the ILVA Subgroup of the Product Standard Committee of the Interstate Insurance Product Regulation Commission on 2023 Compact Requirements for Index-Linked Variable Annuity Products.
Visit the Public Policy page to stay on top of the latest news and activities.
In the News
A regulatory update from Mondaqon the NAIC Spring National Meeting reported on the Life Practice Council C1 Work Group’s ongoing work on collateralized loan obligations.
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