Feature Articles

• Asset Allocation with Hedge Funds on the Menu
• Phelim Boyle and Sun Siang Liew

• Regulatory Competition and Life Insurance Solvency Regulation in the EU and USA
• Philip Booth and Alan Morrison

• Estimation of Distress Costs Associated with Downgrades Using Regime Switching Models
• Andreas Milidonis and Shaun Wang

• A A Long-Term Model of the Dynamics of the S&P500 Implied Volatility Surface
• Martin le Roux

• An Empirical Examination of Jump Risk in U.S Equity and Bond Markets
• Lee Dunham and Geoffrey Friesen

• Markov Aging Process and Phase-type Law of Mortality
• X. Sheldon Lin and Xiaoming Liu

• Risk Classification for Claim Counts: A Comparative Analysis of Various Zero-Inflated Mixed Poisson and Hurdle Models
• Jean-Philippe Boucher, Michel Denuit and Montserrat Guillen

Departments

Discussion of Papers Already Published

• "Search for Predictors of Exceptional Human Longevity: Using Computerized Genealogies and Internet Resources for Human Longevity Studies"
• Discussion by Bert Kestenbaum

• "A Risk Model with Multilayer Dividend Strategy"
• Discussion by Ramin Okhrati
• Authors' Reply

• "On the Class of Erlang Mixtures with Risk Theoretic Applications"
• Discussion by Saralees Nadarajah

• "Moments of the Dividend Payments and Related Problems in a Markov-Modulated Risk Model"
• Discussion by Eric C.K. Cheung

• "Pension Plan Valuation and Mortality Projection: A Case Study with Mortality Data"
• Discussion by Steven Haberman and Arthur Renshaw

• Author Reply to Previously Published Discussion
• "An Actuarial Premium Pricing Model for Nonnormal Insurance and Financial Risks in Incomplete Markets"
• Discussion by Zinoviy Landsman and Michael Sherris