ASB News

14
May
0

Boxscore, Spring 2021: ASB Adopts ASOP No. 11 Revision; Approves Exposure Draft of ASOP No. 18 Revision; Releases 2020 Annual Report

Category: ASB News
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13
May
0

ASB Adopts Revision of ASOP No. 11

Category: ASB News, Life Committee News
The ASB recently adopted a final revision of ASOP No. 11, now titled Treatment of Reinsurance or Similar Risk Transfer Programs Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports. The ASOP provides guidance to actuaries when performing actuarial services with respect ...
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15
Apr
0

ASB Approves Exposure Draft of ASOP No. 18 Revision

Category: ASB News, Health Committee News
The ASB recently approved an exposure draft of a revision of ASOP No. 18, now titled Long-Term Care. The ASOP provides guidance to actuaries when performing actuarial services with respect to long-term care (LTC) benefit plans sponsored by insurers or other entities. The standard applies to actuari ...
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25
Mar
0

ASB Releases 2020 Annual Report

Category: ASB News
The ASB released its 2020 Annual Report, which highlights the board’s accomplishments throughout the year, including adopting three revised ASOPs, approving five exposure drafts for comment, and approving proposals to revise 10 existing ASOPs and one actuarial compliance guideline. ...
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23
Dec
0

ASB Boxscore, Fall/Winter 2020: ASB Approves Exposure Drafts of Proposed Revisions of ASOP Nos. 3, 38, and Setting Assumptions ASOP; New ASB Members and Chairperson Appointments Announced

Category: ASB News
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30
Nov
0

ASB Approves Exposure Draft of ASOP No. 3 Revision

Category: ASB News, Health Committee News
The ASB recently approved a revision of ASOP No. 3 now titled Continuing Care Retirement Communities and At Home Programs.  The standard, which was last revised in 2008, applies to actuaries when performing actuarial services, including giving advice, in connection with Continuing Care Retireme ...
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19
Oct
0

ASB Approves Exposure Draft of ASOP No. 38 Revision; Approves Third Exposure Draft on Setting Assumptions

Category: ASB News
The ASB recently approved an exposure draft of a revision of ASOP No. 38, now titled Catastrophe Modeling (for All Practice Areas). The ASOP provides guidance to actuaries when performing actuarial services with respect to selecting, using, reviewing, or evaluating catastrophe models. At the direct ...
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21
Aug
0

ASB Boxscore, Spring/Summer 2020: ASB Adopts ASOP Nos. 27 and 35 Revisions; ASB Adopts ASOP No. 32 Revision

Category: ASB News
Information on the exposure drafts of ASOP Nos. 2, 22, and 28 as well as the new template for submitting comments are featured in this edition of the Boxscore. ...
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21
Jul
0

ASB Adopts Revisions of ASOP Nos. 27 and 35

Category: ASB News, Pension Committee News
The ASB recently adopted revisions of Actuarial Standard of Practice (ASOP) Nos. 27, Selection of Economic Assumptions for Measuring Pension Obligations, and 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations. ASOP No. 27 provides guidance to actuaries ...
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16
Jul
0

ASB Approves Second Exposure Draft of Revision of ASOP No. 2

Category: ASB News, Life Committee News
The ASB recently approved a second exposure draft of a revision of ASOP No. 2, now titled Nonguaranteed Elements for Life Insurance and Annuity Products. The ASOP applies to actuaries when performing actuarial services with respect to the determination and, if applicable, illustration of NGEs for a ...
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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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