ASB News

22
Mar
0

ASB Releases 2016 Annual Report

Category: ASB News
The Actuarial Standards Board’s (ASB) 2016 Annual Report is now available. The report highlights the ASB’s accomplishments in 2016, including adoption of three revised actuarial standards of practice (ASOPs), approval of seven exposure drafts for comment, approval of a proposal for one revised A ...
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8
Feb
0

ASB Approves Third Exposure of Proposed ASOP on Estimating Future Costs

Category: ASB News
The ASB recently approved a third exposure draft of a proposed new actuarial standard of practice (ASOP) titled Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk Funding. The proposed ASOP, formerly titled Property/Casualty Ratemaking, will apply to actuaries when perf ...
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18
Jan
0

ASB Adopts Final Revision of ASOP No. 23

Category: ASB News
The ASB recently adopted a final revision of Actuarial Standard of Practice (ASOP) No. 23, Data Quality. The ASOP provides guidance to actuaries when selecting data, performing a review of data, using data, or relying on data supplied by others, in performing actuarial services. The ASOP also applie ...
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6
Jan
0

ASB Adopts Final Revision of ASOP No. 24

Category: ASB News
The ASB recently adopted a final revision of ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. The ASOP provides guidance to actuaries when performing professional services pursuant to applicable law based on the National Association of Insurance Commissioners (NAI ...
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6
Dec
0

ASB Approves Exposure of Proposed ASOP on Setting Assumptions

Category: ASB News
The ASB recently approved an exposure draft of a proposed new ASOP titled Setting Assumptions. The proposed ASOP will apply to actuaries when performing actuarial services that include setting assumptions or assessing the reasonableness of assumptions set by others. Setting assumptions includes, bu ...
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8
Nov
0

ASB Adopts Final Revision of ASOP No. 21

Category: ASB News
The ASB recently adopted a final revision of ASOP No. 21, Responding to or Assisting Auditors or Examiners in Connection with Financial Audits, Financial Reviews, and Financial Examinations, which had been promulgated in 2004. A key change reflected in the revision includes expanding and clarifying ...
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26
Sep
0

ASB to Meet December 6-7, 2016 in Washington, D.C.

Category: ASB News
The next regularly scheduled meeting of the ASB will be held December 6-7, 2016, at the Academy offices in Washington, D.C. ...
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26
Sep
0

ASB Approves Exposure Draft Of Proposed Capital Adequacy Assessment ASOP

Category: ASB News, ERM Committee News
The ASB recently approved an exposure draft of a proposed new ASOP titled Capital Adequacy Assessment for Insurers. The proposed ASOP will apply to actuaries involved in capital adequacy assessment work for life or health insurers, including fraternal benefit societies and health benefit plans, prop ...
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27
Jul
0

ASB Approves Second Exposure Draft of Proposed Risk ASOP, Third Exposure Draft of Proposed Modeling ASOP

Category: ASB News
The ASB recently approved a second exposure draft of a proposed new ASOP titled Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions. Key changes to the second exposure draft include expanding the scope of the proposed ASOP from ...
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6
Jul
0

ASB To Meet September 8-9, 2016 In Washington, D.C.

Category: ASB News
The next regularly scheduled meeting of the ASB will be held September 8-9, 2016, at the Academy offices in Washington, D.C. ...
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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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