ASB News

6
Dec
0

ASB Approves Second Exposure of Proposed ASOP, Capital Adequacy Assessment for Insurers

Category: ASB News, ERM Committee News
The ASB recently approved a second exposure draft of a proposed 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; pr ...
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21
Nov
0

ASB Boxscore, November 2017: New ASOP Nos. 51 and 52 Adopted; Proposal to Revise ASOP No. 22 Approved

Category: ASB News
Read the latest news from the ASB Boxscore here. ...
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26
Oct
0

ASB Adopts Two New ASOPs on Pension Risk and Principle-Based Reserves for Life Products

Category: ASB News, Life Committee News, Pension Committee News
The ASB recently adopted ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions, and ASOP No. 52, Principle-Based Reserves for Life Products under the NAIC Valuation Manual.ASOP No. 51 provides guidance to actuaries whe ...
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28
Aug
0

ASB Boxscore, August 2017

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

ASB Approves Second Exposure of Proposed ASOP on Life Insurance and Annuities Pricing

Category: ASB News, Life Committee News
The ASB recently approved a second exposure draft of a proposed new ASOP titled Pricing of Life Insurance and Annuity Products. The proposed ASOP will apply to actuaries when performing actuarial services with respect to the pricing of life insurance and annuity products when a product is initially ...
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17
May
0

ASB Boxscore, May 2017: Final Revision of ASOP No. 5; Exposure Drafts of Proposed ASOP on Principle-Based Reserves and ASOP No. 17 Revision

Category: ASB News
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27
Apr
0

ASB Adopts Final Revision of ASOP No. 5

Category: ASB News, Health Committee News
The ASB recently adopted a final revision of ASOP No. 5, Incurred Health Claim Liabilities. This ASOP provides guidance to actuaries when estimating or reviewing incurred claims when preparing or reviewing financial reports, claims studies, rates, or other actuarial communications as of a valuation ...
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19
Apr
0

ASB Approves Exposure Draft of a Revision of ASOP No. 17

Category: ASB News
The ASB recently approved an exposure draft of a revision of ASOP No. 17, Expert Testimony by Actuaries. The proposed revised standard will apply to actuaries who are qualified as experts under the evidentiary rules applicable in a forum when they provide testimony in court hearings, dispute resolut ...
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14
Apr
0

ASB Approves Exposure of Proposed ASOP on Principle-Based Reserves for Life Products

Category: ASB News, Life Committee News
The ASB approved an exposure draft of a proposed new ASOP titled Principle-Based Reserves for Life Products. The proposed ASOP will apply to actuaries when performing actuarial services on behalf of life insurance companies, including fraternal benefit societies, in connection with the calculation o ...
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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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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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