The Annuity Reserves Work Group presented an update on its work related to issues that need to be modified for non-variable annuities to the Life Actuarial Task Force.
(August 05, 2017)Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on PBR valuation considerations and recommendations related to accelerated underwriting to the Life Actuarial Task Force.
(August 04, 2017)Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented on the guaranteed issue report and amendment proposal forms (APFs) to the Life Actuarial Task Force. The first APF examines implementation of guaranteed issue mortality tables under current requirements; the second APF examines implementation under principle-based reserve requirements.
(August 04, 2017)Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group presented to the Life Actuarial Task Force on the 2017 simplified issue composite mortality tables report.
The Academy released Auto Insurance in the 21st Century, which explores insurance issues surrounding autonomous vehicles, ride-sharing services, and distracted driving. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences.
(August 02, 2017)The Social Security Committee released an issue brief on the 2017 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.
(July 31, 2017)The Tax Work Group released an issue brief on the implications of calculating tax-deductible claim reserves based on incurral date versus issue date for long-term disability insurance policies.
(July 28, 2017)The P/C RBC Committee and the Health Solvency Subcommittee submitted a joint comment letter to the NAIC’s Investment Risk-Based Capital Working Group expressing concern about proposed changes to corporate bond factors.
(July 25, 2017)The Health Practice Council sent a letter to U.S. Senate leadership on the potential adverse consequences of legislation to eliminate the Affordable Care Act’s (ACA) individual mandate which would lead to lower enrollment, a deterioration of the risk pool, and higher premiums.
(July 25, 2017)The Health Practice Council released a new policy paper highlighting cost-sharing reductions including what they are and why they need to be funded.
(July 24, 2017)The C1 Work Group submitted comments to the NAIC's Investment Risk-Based Capital Working Group (IRBC) on their recent proposal on RBC requirements for real estate.
The Medicare Subcommittee published an issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance, on significant concerns about Medicare’s long-term financial health.
(July 19, 2017)The Health Practice Council released a new policy paper highlighting several frequently asked questions (FAQ) on risk pooling and explaining how it works in the individual health insurance market. The FAQ also explores the differences between a single risk pool and separate risk pools.
(July 14, 2017)The Financial Regulatory Task Force submitted comments to the U.S. House Financial Services Committee on H.R. 3110, Financial Stability Oversight Council Insurance Member Continuity Act.
(July 14, 2017)The Accelerated Underwriting Project Oversight Group (reporting to the Academy's Life Experience Committee and SoA's Preferred Mortality Oversight Group) submitted comments to NAIC's Life Actuarial Task Force (LATF) discussing future experience study data elements.
The Committee on Property and Liability Financial Reporting (COPLFR) submitted comments to the NAIC's Title Insurance Financial Reporting Working Group that raised questions about proposed changes to the way reserves are reported in the title statement of actuarial opinion.
(July 14, 2017)The Pension Practice Council (PPC) published an issue brief that explores various methods to measure the financial health of pension plans.
(July 13, 2017)A new issue brief produced by the Individual and Small Group Markets Committee, Drivers of 2018 Health Insurance Premium Changes, provides an overview of the general factors underlying premium rate setting and highlights the major components driving premium changes for 2018. Read the news release.
(July 11, 2017)Senior Life Fellow Nancy Bennett and Tom Campbell, chairperson of the Life Valuation Committee’s AG 43/C3 Phase II Work Group, presented to the Federal Reserve Board Insurance Industry Work Group on regulatory capital requirements for life insurers.
(July 11, 2017)