NAIC Spring 2025 Meeting Recap
April 2025
The Society of Actuaries (SOA) continues its support and work with the National Association of Insurance Commissioners (NAIC) and participated in its Spring 2025 National Meeting in Indianapolis, IN, from March 22–26. SOA staff and volunteers joined state insurance regulators, industry representatives and other insurance experts at the event.
SOA Research Institute staff actuaries and volunteers shared updates on research with casualty, health and life task forces:
Life Actuarial (A) Task Force (LATF): Marianne Purushotham, FSA, MAAA, LIMRA Corporate Vice President for Statistical Analysis and Modeling and SOA volunteer with the Mortality and Longevity Oversight Advisory Council, presented an update on Historical Mortality Improvement (HMI) and Future Mortality Improvement (FMI) factors during the opening day of the LATF meeting.
Both R. Dale Hall, FSA, MAAA, CERA, Managing Director, SOA Research Institute, and Ann Weber, SOA Legal Consultant, presented to the task force during the second day. Hall opened the session with an update on SOA research. He reaffirmed the new subscription model for the Experience Studies Pro, which is offered in partnership with LIMRA, and noted strong industry participation. He also gave an update on developments for the study series, explaining their goals to keep studies current within five years for all major product lines and to increase the number of studies released to six or seven annually.
Hall then reviewed other life and mortality research completed by the SOA Research Institute and previewed research scheduled for later in 2025. Weber provided a status update on the progress of the SOA FSA pathway enhancements and certificate development.
Health Actuarial (B) Task Force (HATF): Hall also presented to the HATF and shared new research from the SOA Research Institute, such as The ACA@15: Tracking Prior and Emerging Results Since Its Inception, a report that examines the Affordable Care Act’s impact on the individual, small group and Medicaid marketplaces and was accompanied by a consumer survey. Additionally, Hall highlighted recent and upcoming health-related experience studies and practice research.
Casualty Actuarial and Statistical (C) Task Force: On the second day of NAIC’s spring national gathering, Hall and Weber participated in the CASTF meeting, and Hall shared SOA research related to extreme weather and wildfires. He discussed factors that contributed to the Los Angeles County wildfires in January 2025, which are analyzed in the Actuarial Weather Extreme Series: Los Angeles County Wildfires report. Hall also talked about the SOA Research Institute’s focus on disaster financing as an emerging topic for future research. As she did with the LATF, Weber updated the CASTF on the SOA Fellowship and regulatory certificate developments.
Ohio Insurance Director Discusses NAIC Activities and New Task Force
On March 22, the SOA hosted a dinner for members in Indianapolis. Ohio Department of Insurance Director Judith French attended as guest speaker. In addition to chairing the NAIC Life Insurance and Annuities (A) Committee, French also serves as co-chair of the newly organized Risk-Based Capital (RBC) Task Force. Dinner attendees were very interested in hearing French’s overview of NAIC activities and plans for the RBC Task Force.
Stay tuned for more details about the NAIC 2025 Spring National Meeting in an upcoming Research Insights Podcast with Hall and Geralyn Trujillo, Senior Public Policy Leader, American Academy of Actuaries.