Academy Closed Wednesday for Juneteenth Holiday

The Academy’s office will be closed next Wednesday, June 19, in observance of the Juneteenth federal holiday.

EDUCATION & EVENTS

Academy Holds Successful PBR Bootcamp in Philadelphia

The Academy’s PBR Bootcamp, held Tuesday through Thursday in Philadelphia, covered a range of topics, including assets, liability assumptions, modeling reserves, hedging, governance, valuation manual updates, and other principle-based reserving (PBR) topics for life actuaries. “PBR had been in development for a long time—since the early 2000s,” said Donna Megregian, chairperson of the Life Products Committee and 2024 PBR Bootcamp facilitator. “Once it was finalized, this Bootcamp was developed by the Academy to leverage the expertise of many of the developers—Academy members and regulators—and early adopters. This Bootcamp was a vital educational opportunity.”

Member Resource: A reminder that as a value-add for members, all webcast recordings are archived and available free of charge—including last year’s all-digital PBR Bootcamp series. Dive into the archive and brush up on your PBR; you’ll be glad you did.

Academy Webinar on ‘Speed-to-Market’ Features NAIC Presenters

Academy Board member and Chairperson of the Academy’s Data Science and Analytics Committee Dorothy Andrews and a panel of National Association of Insurance Commissioners (NAIC) staff presented in Monday’s Speed-to-Market NAIC Presentation webinar, in which they offered insight on how to identify important modeling information to provide regulators in initial filings to speed regulatory approval decisions.

OUTREACH & NEWS

Retirement Report Covers ‘ERISA at 50’ Kickoff Events

The Spring/Summer Retirement Report covers the opening events of the Academy’s “ERISA at 50” series, including this month’s stakeholder symposium that drew a large audience in the nation’s capital. Also in the issue, Academy staff and Retirement Practice Council (RPC) volunteers visited federal agencies to discuss key issues; the RPC’s infographic and webinar following release of the annual Social Security Trustees Report; and recent legislative/regulatory activity.

In the News

• Barron’s and MSN cited remarks from the Academy’s recent webinar on the Social Security Trustees Report.

PUBLIC POLICY

• P&C Committee on Equity and Fairness Chairperson Susan Kent spoke during a public hearing of the District of Columbia Department of Insurance, Securities and Banking on the department’s recently released Market Conduct Examination Draft Report—Evaluating Unintentional Bias in Private Passenger Automobile Insurance.

• The C1 Subcommittee of the Life Investment and Capital Adequacy Committee provided comments to the NAIC's Risk-Based Capital Investment Risk and Evaluation Working Group on an exposed interim residual tranche proposal.

Visit the Public Policy webpage to stay on top of the latest news and activity.

PROFESSIONALISM

• Ed Lee, director of professionalism and staff attorney for the Actuarial Board for Counseling and Discipline (ABCD), gave a presentation on the history and function of the ABCD and participated in a mock trial at the Casualty Actuarial Society’s “Course on Professionalism” on Tuesday in Seattle.

• Correction: The effective date of the recently adopted Actuarial Standard of Practice (ASOP) No. 28, Statements of Actuarial Opinion Regarding Health Insurance Assets and Liabilities, was listed in the PDF version as Sept. 1, 2024. The effective date is Oct. 1, 2024.

CALENDAR

• July 11 [Webinar] Machine Learning Usage Survey Analysis

• Sept. 9–11 [Seminar] Casualty Loss Reserve Seminar; San Francisco (co-sponsored with the Casualty Actuarial Society)

• Oct. 15–16 [Annual Meeting] Envision Tomorrow 2024; Washington, D.C.

• Nov. 4–7 [Seminar] Life and Health Qualifications Seminar; Arlington, Va.

• Dec. 9–10 [Seminar] Seminar on Effective P/C Loss Reserve Opinions; New Orleans

Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings.

LOOKING AHEAD

Going to SOA Health? So Are We!

If you’re planning to be at the Society of Actuaries’ Health Meeting in a few weeks, make plans to stop by the Academy exhibit booth, where you can learn more about important Academy initiatives and member benefits. Then, be sure to catch our volunteers in the following sessions:

• Session 2E: Financial Inequities Caused by Climate-related Disasters, with Academy President Lisa Slotznick and Charles Merz

• Session 4G: Improving Data Analysis Using a Health Equity Lens, with Academy Board member Julia Lerche and Rebecca Allen Sheppard

• Session 6E: Speak Up! Sticking to Ethics in High-Stakes Environments, with Academy President Lisa Slotznick, President-Elect Darrell Knapp, and Rob Damler