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Risk Management & Financial Reporting
The Academy’s Risk Management and Financial Reporting Council (RMFRC) serves as a trusted source for objective technical insights, and guidance for policymakers and regulators.
RMFRC is dedicated to illuminating decisions and redefining the standards of excellence in the ever-evolving world of Risk and Finance.
Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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Data Science Toolkit
DSAC’s Data Science Toolkit offers a series of resources related to data science, including defining big data, data bias, correlation and causation, emphasizing how they may affect actuarial modeling, and consumer experience.
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Enterprise Risk Management
Issues related to ERM encompassing property/casualty, life, and health actuarial practice areas.
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Federal Insurance Regulation/Systemic Risk
Regulation of insurance by the federal government or as a systemic risk to the economy.
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Financial Reporting/International Accounting
Global financial reporting issues that affect multiple areas of actuarial practice.
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Solvency/Reinsurance
Solvency, risk management, and reinsurance issues impacting various actuarial practices globally.
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View Risk Management & Financial Reporting Committees
Risk Management & Financial Reporting News
Uncategorized
ASB Approves Third Exposure of Proposed ASOP on Estimating Future Costs
The ASB recently approved a third exposure draft of a proposed new actuarial standard of practice (ASOP) titled Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk…
Topics:
ASB News
Date Published:
02/08/2017
Uncategorized
ASB Adopts Final Revision of ASOP No. 23
The ASB recently adopted a final revision of Actuarial Standard of Practice (ASOP) No. 23, Data Quality. The ASOP provides guidance to actuaries when selecting data, performing a review of data,…
Topics:
ASB News
Date Published:
01/18/2017
Uncategorized
ASB Adopts Final Revision of ASOP No. 24
The ASB recently adopted a final revision of ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. The ASOP provides guidance to actuaries when performing professional…
Topics:
ASB News
Date Published:
01/06/2017
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Comment / Letter
Issue Brief
NAIC Report
Policy Paper
Practice Note
Presentation
Report
Research Paper
Resource
Testimony
Risk Management & Financial Reporting Resources
Presentation
Academy Presents on Research at NAIC Spring Meeting
Academy Director of Research Steve Jackson presented recent research findings on risk-based capital (RBC) and impairment to NAIC task forces and working groups at the NAIC Spring National Meeting in…
Topics:
NAIC
Risk-Based Capital
Date Published:
03/26/2026
Policy & Research
Comment / Letter
RBC Model Governance Task Force Gap Analysis Considerations
The Cross-Practice Risk-Based Capital Task Force submitted comments in response to the NAIC Risk-Based Capital Model Governance (EX) Task Force’s request for comments on RBC gap analysis…
Topics:
Financial Reporting
NAIC
Risk-Based Capital
Date Published:
03/16/2026
Policy & Research
Comment / Letter
Comment Letter to NAIC on IMR Impact to Reinsurance
The Reinsurance Working Group submitted comments to the NAIC Statutory Accounting Principles (E) Working Group on the SAPWG 2025‑22 exposure draft regarding IMR impacts on reinsurance collateral….
Topics:
Reinsurance
Solvency
Date Published:
03/12/2026
Policy & Research
Comment / Letter
XR013 Investment Income Adjustment Stand-alone Factor
In response to a request from the NAIC’s Health Risk-Based Capital (E) Working Group, the Health Underwriting Risk Factors Analysis Work Group submitted a comment letter on the XR013 Investment…
Topics:
Risk-Based Capital
Date Published:
02/27/2026
Policy & Research
Comment / Letter
Comments to Cayman Islands Monetary Authority
The Academy’s Risk Management and Financial Reporting Council and Life Practice Council submitted a joint comment letter to the Cayman Islands Monetary Authority in response to a recent…
Topics:
Life
Public Policy
Risk Management
Date Published:
02/17/2026
Policy & Research
Comment / Letter
Councils Comment to NSF on Climate Research Center
The Risk Management and Financial Reporting Council, Casualty Practice Council, and Research Committee submitted a joint comment letter to the National Science Foundation urging reconsideration of…
Topics:
Casualty
Climate Risk
Natural Catastrophes
Risk Management
Date Published:
02/11/2026
Policy & Research
Policy Paper
A Foundational Study of Algorithmic Bias
A Data Science and Analytics Committee (DSAC) policy paper, A Foundational Study of Algorithmic Bias, examines the types of biases that can be unintentionally embedded within the algorithms that…
Topics:
Artificial Intelligence
Data Science / Big Data
Risk Management
Date Published:
12/31/2025
Policy & Research
Issue Brief
Attribution Science from an Actuarial Perspective
The Climate Change Joint Committee released Attribution Science from an Actuarial Perspective, an issue brief exploring how climate attribution science can be used in risk assessment and public…
Date Published:
11/11/2025
Policy & Research
Presentation
Climate Events and Insurance Affordability
Members of the Climate Change Joint Committee, along with Washington Insurance Commissioner Patty Kuderer, presented, Climate Events and Insurance Affordability, at the 2025 SOA ImpACT…
Topics:
Climate Risk
Natural Catastrophes
Public Policy
Date Published:
11/06/2025
Policy & Research
Policy Paper
Measuring Statistical Bias in Data Using Entropy
The Data Science and Analytics Committee (DSAC) released Measuring Statistical Bias in Data Using Entropy, a policy paper exploring how entropy can be used to quantify statistical bias and…
Topics:
Data Science / Big Data
Public Policy
Date Published:
11/05/2025
Policy & Research
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