ASB News

25
Apr
0

ASB Adopts Revision of ASOP No. 42

Category: ASB News, Health Committee News
The ASB recently approved a final revision of ASOP No. 42, now titled Health and Disability Actuarial Assets and Liabilities Other Than Liabilities for Incurred Claims.The standard has been revised to incorporate references to new standards that have been issued since the ASOP’s initial 2004 adopt ...
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18
Apr
0

Proposed Revision of ASOP Nos. 4, 27, and 35

Category: ASB News, Pension Committee News
The ASB recently approved exposure drafts of revisions of ASOP Nos. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions; 27, Selection of Economic Assumptions for Measuring Pension Obligations; and 35, Selection of Demographic and Other Noneconomic Assumptions for Me ...
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10
Jan
0

ASB Adopts New ASOP No. 53

Category: ASB News, Casualty Committee News
The ASB adopted new ASOP No. 53, Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk Retention. The ASOP provides guidance to actuaries when performing actuarial services with respect to developing or reviewing future cost estimates for prospective property/casualty risk ...
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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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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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