ASB News

25
Mar
0

ASB Releases 2018 Annual Report

Category: ASB News
The ASB released its 2018 Annual Report. Last year the ASB adopted one new ASOP and two revised ASOPs, approved five exposure drafts for comment, and approved one proposal to revise one existing ASOP. In addition, the board presented a professionalism series webinar, “The Anatomy of ASOPs,” and ...
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18
Mar
0

ASB Approves Exposure Draft of a Revision of ASOP No. 22

Category: ASB News, Life Committee News
The ASB recently approved an exposure draft of a revision of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health Liabilities. The standard applies to actuaries when performing actuarial services with respect to providing a statement of actuarial opinion ( ...
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19
Feb
0

ASB Approves Fourth Exposure of Proposed ASOP on Modeling

Category: ASB News
The ASB recently approved a fourth exposure draft of a proposed new ASOP titled Modeling. The proposed ASOP will provide guidance to actuaries in any practice area when performing actuarial services with respect to designing, developing, selecting, modifying, or using all types of models. The third ...
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19
Nov
0

ASB Boxscore, Nov. 2018: Revision of ASOP No. 32 Exposure Draft Approved; Capital Adequacy Third Exposure Draft Approved; New ASB Appointments

Category: ASB News
Read the latest news from the ASB Boxscore—The Actuarial Standards Board's newsletter, with progress reports on the ASB's work developing and updating standards. ...
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19
Nov
0

ASB Approves Capital Adequacy Assessment Third Exposure Draft

Category: ASB News, ERM Committee News
The ASB approved a third exposure draft of a proposed new ASOP titled Capital Adequacy Assessment. The ASOP will provide guidance to actuaries when performing professional services with respect to a review of the resiliency of an insurer through a capital adequacy assessment. The standard applies to ...
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24
Oct
0

ASB Approves Exposure Draft of a Revision of ASOP No. 32

Category: ASB News
The ASB approved an exposure draft of a revision of ASOP No. 32, Social Insurance. The standard applies to actuaries when performing actuarial services when the actuary’s principal is a government agency with responsibility for the valuation of a Social Insurance Program. The standard also applies ...
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17
Sep
0

ASB Boxscore, September 2018: ASB Adopts New ASOP No. 54 (Life) and New Revision of ASOP No. 17 (General); ASB Celebrates 30 Years of Standards Setting

Category: ASB News
Read the latest news from the ASB Boxscore. ...
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24
Jul
0

ASB Adopts New ASOP No. 54

Category: ASB News, Life Committee News
The ASB adopted new ASOP No. 54, Pricing of Life Insurance and Annuity Products. ASOP No. 54 applies to actuaries when performing actuarial services with respect to the pricing of life insurance and annuity products when a product is initially developed or when charges or benefits are changed for fu ...
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24
Jul
0

ASB Adopts Revision of ASOP No. 17

Category: ASB News
The ASB adopted new a revision of No. 17, Expert Testimony by Actuaries. The revision of ASOP No. 17 applies to actuaries who are qualified as experts under the evidentiary rules applicable in a forum when they provide testimony in court hearings, dispute resolutions, depositions, rate hearings, leg ...
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15
May
0

ASB Boxscore, May 2018: Revisions of Pension ASOP Nos. 4, 27, and 35 Approved for Exposure; ASOP No. 42 Revision Adopted

Category: ASB News
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Actuarial Standards Board

The Actuarial Standards Board (ASB) sets standards for appropriate actuarial practice in the United States through the development and promulgation of Actuarial Standards of Practice (ASOPs). These ASOPs describe the procedures an actuary should follow when performing actuarial services and identify what the actuary should disclose when communicating the results of those services.

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