GAO - Government Accountability Office

  • If a study is necessary, we urge the Senate to request the study from an objective body, such as the Government Accountability Office (GAO).

2010 0410 - Letter - NAIC to GOV (Senators) - re:  NAIC letter to Senators on the Restoring American Financial Stability Act of 2010 (RAFSA) - 4p

  • Richard J. Hillman
  • GAO Chief Actuary
    • Frank Todisco
    • 2014 0320 - AAA - Actuary Serving Congress: A Conversation with GAO’s Chief Actuary, American Academy of Actuaries - 35p
    • 2019 0526 - IAA - Role of the Actuary at GAO Presentation to the Mortality Working Group of the International Actuarial Association - 37p
  • generally accepted government auditing standards.
  • 2009 0925 - GOV (House) - H.R. 1207, the Federal Reserve Transparency Act of 2009, Financial Regulatory Overhaul (CSPAN) - [PDF-223p, VIDEO-CSPAN]
    • (p38) - Scott ALVAREZ (FRB). GAO audits government agencies, and you want the audit of a private entity.
      • I think that is something that Congress would have to change the authority of the GAO to allow.
  • 2005 06 - Letter - AAA to GAO - Questions from Phone Conference with GAO On March 31, 2005, American Academy of Actuaries - 5p
    • 1. A brief background on broad categories of actuarial activities.
    • 2. Also please briefly highlight the differences in actuarial activities between life, health and propertycasualty insurance.
    • 3. Please briefly describe the role actuaries of an insurance company have on the product development (form) side.
    • 4. Please describe the role actuaries have in the insurance regulatory process
    • 5. Are there elements that make a line of insurance a commercial product instead of a personal product, other than that the coverage is for a place of business?
    • 6. With respect to the three financial service areas of insurance, banking and securities, we would like to have a more inclusive list of competing and hybrid products:
    • 7. In general, when is pricing more a function of a state’s public policy/regulatory philosophy than a function of actuarial activities?
    • 8. What are some of the academic definitions of “insurance” (We are aware of NAIC’s White Paper, Gramm-Leach-Bliley, Internal Revenue Code, Terri Vaughan’s textbook), and what would you describe as the major or necessary elements?