ASB News

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
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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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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
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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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