Description: This document is a Request for Proposals (RFP) published by the SOA Research Institute, seeking comprehensive research to evaluate insurance coverage for chronic conditions in China, focusing on critical illness morbidity rates and potential benefits of innovative insurance product designs. The RFP outlines research objectives, proposal requirements, selection process, and conditions for research funding.

Description: Panel of this session 57PD of the New York Annual Meeting provides a comprehensive overview and unique insight into various regulatory and compliance issues. From the Record of the Society of Actuaries, Vol. 24, No. 3.

Description: Overview of the regulatory requirements around sustainability reporting in Europe.

Description: Insurance commissioners and deputy insurance commissioners will discuss current topics including health care reform, life insurance issues, risks in the major medical markets, voluntary products and other topics.

Description: The New York State Insurance Department has appointed a committee to redraft and modernize its agent compensation law to account for new forms of insurance. The New York law, which has had a major effect on agent compensation since the early 1900s protects consumers from excessive expenses and generally has worked well.

Description: The article discusses the role played by the "Blue Books" issued by the Congress's Joint Committee on Taxation and the authority accorded them by a recent U.S. Supreme Court decision.

Description: In 2020, the Korean insurance regulator, Financial Services Commission (FSC), introduced a coinsurance structure allowing for full risk transfer—including investment risk, interest rate risk, insurance risk, and policyholder lapse risk—as a permitted practice. Expanding use of coinsurance in the Korean insurance market brings a suite of potential benefits to Korean insurance companies including increased financial flexibility, options to improve policyholder protection and shareholder value through optimization of business strategies. As such, FSC’s initiative and intention to introduce coinsurance opportunities to the market is commendable.

Description: Presenters will explore how climate risks are measured scientifically, and in what ways the insurance and reinsurance industries can play a larger role in managing risk. In an accessible manner and assuming no scientific background from the audience, we will review and discuss the background of climate science, and the unique role that the insurance industry can play. Specifically, we will discuss outcomes from a recent interdisciplinary workshop, 'The Nexus of Climate Data, Insurance, and Adaptive Capacity,' held November 2018 at The Collider in Asheville, NC. The workshop facilitated a national, interdisciplinary scientific research discussion on modeling and managing climate change risks between three different, but related research communities: the climate modeling and data community, statisticians, and researchers within the insurance and reinsurance industries. Co-sponsors of the workshop include the Society of Actuaries (SOA), the Casualty Actuarial Society (CAS), the National Science Foundation (NSF) and the Statistics and Applied Mathematical Sciences Institute (SAMSI)

Description: In September 2017, the China Insurance Regulatory Commission (CIRC) issued the “C-ROSS Phase II project construction plan”, planned to be used across three years’ time, by perfecting the regulations, improving the operational mechanism and strengthening the regulatory cooperation.

Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.