COPLFR Updates - Revision history

Graham: /* Fall 2023 Updates (also valid for Spring 2024) */

2023-07-03T00:35:19Z

‎Fall 2023 Updates (also valid for Spring 2024)

Graham: /* Fall 2023 Updates (also valid for Spring 2024) */

2023-07-03T00:33:49Z

‎Fall 2023 Updates (also valid for Spring 2024)

Graham: /* Fall 2023 Updates (also valid for Spring 2024) */

2023-07-03T00:26:00Z

‎Fall 2023 Updates (also valid for Spring 2024)

Graham at 00:25, 3 July 2023

2023-07-03T00:25:25Z

Graham: /* Fall 2022 Updates (also valid for Spring 2023) */

2022-06-11T22:25:08Z

‎Fall 2022 Updates (also valid for Spring 2023)

Graham: /* 2021 AOWG Regulatory Guidance */

2022-06-11T22:24:35Z

‎2021 AOWG Regulatory Guidance

Graham: /* Company Representations to the Appointed Actuary (Section 3.5.3) */

2022-06-11T22:11:45Z

‎Company Representations to the Appointed Actuary (Section 3.5.3)

Graham: /* COVID-19 Considerations (Section 5.7) */

2022-06-11T22:11:11Z

‎COVID-19 Considerations (Section 5.7)

Graham: /* Company Representations to the Appointed Actuary (Section 3.5.3) */

2022-06-11T22:10:36Z

‎Company Representations to the Appointed Actuary (Section 3.5.3)

Graham: /* COVID-19 Considerations (Section 5.7) */

2022-06-11T21:36:40Z

‎COVID-19 Considerations (Section 5.7)

← Older revision		Revision as of 00:35, 3 July 2023
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	On page 12 of the document (or page 19 of the PDF) there is an '''Overview of Applicable Qualification Standards'''. This is already discussed in the wiki content and the changes seem fairly minor. The CE credits now require at least 1 hour of <u>bias topics</u> but there is no explanation of what that entails. I suppose you would find out when it's time to do your CE.		On page 12 of the document (or page 19 of the PDF) there is an '''Overview of Applicable Qualification Standards'''. This is already discussed in the wiki content and the changes seem fairly minor. The CE credits now require at least 1 hour of <u>bias topics</u> but there is no explanation of what that entails. I suppose you would find out when it's time to do your CE.
		+
		+	I think that's pretty much all there is. If you think I've left out something important, let me know.

	==Fall 2022 Updates (also valid for Spring 2023)==		==Fall 2022 Updates (also valid for Spring 2023)==

@@ Line 1: / Line 1: @@
 ==Fall 2023 Updates (also valid for Spring 2024)==
-The changes for Fall 2023 pertain mainly to qualification standards for the appointed actuary. A lot of that information is very detailed and probably wouldn't make a good exam question. Something that's mentioned however in multiple places in the updated COPLFR text is this:
+The changes for Fall 2023 pertain mainly to '''qualification standards''' for the appointed actuary. A lot of that information is very detailed and probably wouldn't make a good exam question. Something that's mentioned however in multiple places in the updated COPLFR text is this:
 * Additionally, the NAIC SAO Instructions require that the '''Identification''' paragraph <u>should include</u> a statement asserting that the Appointed Actuary has provided qualification documentation to the Board of Directors.''
@@ Line 7: / Line 7: @@
 To me, that requirement seems like pointless bureaucracy. Presumably management has verified the qualification of the appointed actuary, and the Board of Directors can assume such whether or not they have an official document. Anyway, just be aware of it.
-Other changes...updates in progress...
+On page 12 of the document (or page 19 of the PDF) there is an '''Overview of Applicable Qualification Standards'''. This is already discussed in the wiki content and the changes seem fairly minor. The CE credits now require at least 1 hour of <u>bias topics</u> but there is no explanation of what that entails. I suppose you would find out when it's time to do your CE.
 ==Fall 2022 Updates (also valid for Spring 2023)==

@@ Line 1: / Line 1: @@
 ==Fall 2023 Updates (also valid for Spring 2024)==
-The changes for Fall 2023 pertain mainly to qualification standards for the appointed actuary. A lot of that information is very detailed and probably wouldn't make a good exam question. Something that's mentioned in 3 different places in the updated COPLFR text is this:
+The changes for Fall 2023 pertain mainly to qualification standards for the appointed actuary. A lot of that information is very detailed and probably wouldn't make a good exam question. Something that's mentioned however in multiple places in the updated COPLFR text is this:
 * Additionally, the NAIC SAO Instructions require that the '''Identification''' paragraph <u>should include</u> a statement asserting that the Appointed Actuary has provided qualification documentation to the Board of Directors.''

← Older revision		Revision as of 00:25, 3 July 2023
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		+	==Fall 2023 Updates (also valid for Spring 2024)==
		+
		+	The changes for Fall 2023 pertain mainly to qualification standards for the appointed actuary. A lot of that information is very detailed and probably wouldn't make a good exam question. Something that's mentioned in 3 different places in the updated COPLFR text is this:
		+
		+	* Additionally, the NAIC SAO Instructions require that the '''Identification''' paragraph <u>should include</u> a statement asserting that the Appointed Actuary has provided qualification documentation to the Board of Directors.''
		+
		+	To me, that requirement seems like pointless bureaucracy. Presumably management has verified the qualification of the appointed actuary, and the Board of Directors can assume such whether or not they have an official document. Anyway, just be aware of it.
		+
		+	Other changes...updates in progress...
		+
	==Fall 2022 Updates (also valid for Spring 2023)==		==Fall 2022 Updates (also valid for Spring 2023)==

← Older revision		Revision as of 22:25, 11 June 2022
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	==Fall 2022 Updates (also valid for Spring 2023)==		==Fall 2022 Updates (also valid for Spring 2023)==
−
−	~~{\| class='wikitable'~~
−	\|-
−	~~\|\| <span style="color: red;">'''Note:'''</span> This section on changes for 2022-Fall is <u>under construction</u>~~
−	\|}

	The COPLFR source text provides a very nice summary of the changes:		The COPLFR source text provides a very nice summary of the changes:

← Older revision		Revision as of 22:24, 11 June 2022
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	See "Final Comments" at the end of ''[[COPLFR.SAO#Step_3:_Schedule_P_Reconciliation_.28Scope.29 \| Step 3: Schedule P Reconciliation (Scope)]]''. You can also go directly to the wiki page for ''[[Letter of Representation]]''.		See "Final Comments" at the end of ''[[COPLFR.SAO#Step_3:_Schedule_P_Reconciliation_.28Scope.29 \| Step 3: Schedule P Reconciliation (Scope)]]''. You can also go directly to the wiki page for ''[[Letter of Representation]]''.
−
−	~~===2021 AOWG Regulatory Guidance===~~
−
−	* relates to regulator expectations for Schedule P reconciliations, notice of potential specificity on the deadlines for submitting Appointed Actuary qualification documentation to the Board of Directors (this would be effective in 2022), and other minor editorial changes.

	==Fall 2020 Updates (also valid for Spring 2021)==		==Fall 2020 Updates (also valid for Spring 2021)==

@@ Line 24: / Line 24: @@
 ===Company Representations to the Appointed Actuary (Section 3.5.3)===
-See "Final Comments" at the end of ''[[COPLFR.SAO#Step_3:_Schedule_P_Reconciliation_.28Scope.29 | Step 3: Schedule P Reconciliation (Scope)]]''
+See "Final Comments" at the end of ''[[COPLFR.SAO#Step_3:_Schedule_P_Reconciliation_.28Scope.29 | Step 3: Schedule P Reconciliation (Scope)]]''. You can also go directly to the wiki page for ''[[Letter of Representation]]''.
 ===2021 AOWG Regulatory Guidance===

@@ Line 20: / Line 20: @@
 ===COVID-19 Considerations (Section 5.7)===
-There was a minor update for COVID-19. See the main wiki article near the end of the section ''[[COPLFR.SAO#Step_6-A:_Company-Specific_Risk_Factors_.28Relevant_Comments.29 | Step 6-A: Company-Specific Risk Factors - Relevant Comments]]''.
+There was a minor update for COVID-19. See the main wiki article near the end of the section ''[[COPLFR.SAO#Step_6-A:_Company-Specific_Risk_Factors_.28Relevant_Comments.29 | Step 6-A: Company-Specific Risk Factors (Relevant Comments)]]''.
 ===Company Representations to the Appointed Actuary (Section 3.5.3)===

← Older revision		Revision as of 22:10, 11 June 2022
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	===Company Representations to the Appointed Actuary (Section 3.5.3)===		===Company Representations to the Appointed Actuary (Section 3.5.3)===

		+	See "Final Comments" at the end of ''[[COPLFR.SAO#Step_3:_Schedule_P_Reconciliation_.28Scope.29 \| Step 3: Schedule P Reconciliation (Scope)]]''

	===2021 AOWG Regulatory Guidance===		===2021 AOWG Regulatory Guidance===