SOA Insights from the NAIC 2016 Spring National Meeting

This early April, members and staff of the Society of Actuaries (SOA) participated in meetings during the 2016 Spring National Meeting of the National Association of Insurance Commissioners (NAIC). The SOA representatives attended sessions and spoke on a variety of actuarial research topics, including on long-term-care (LTC), mortality tables and cancer claim costs.

In terms of the LTC Working Group, the representatives provided an overview of studies published in the last year, and discussed that states asked companies they regulate to provide feedback on how projections and forecasts might change given the new set of experience information.

The joint SOA and American Academy of Actuaries Cancer Claim Cost Table Work Group presented to the NAIC Health Actuarial (B) Task Force (HATF) on efforts to adapt to different hospital benefit designs, how to treat these tables in regulation, and future efforts for working with HATF to expose and implement the tables. The SOA also provided an update on the federal Affordable Care Act (ACA) papers.

Stay tuned for developments on actuarial research and the SOA’s efforts in working with the NAIC.

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