Description: This article provides an overview of the impact of the revisions to the Standard Valuation Law adopted by the NAIC in 2009 on accident and health insurance.

Description: This article summarizes a presentation at an SOA annual meeting session, “Opening Up Your Company to the Use of Actuaries in Nontraditional Roles.”

Description: Looking at emerging risk through the framework of complex systems enables risks to be understood better, seen earlier, and managed more effectively.

Description: Read the June 2020 issue of Innovators & Entrepreneurs published by Entrepreneurial and Innovation Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Article about talent crisis in insurance industry

Description: The introduction and effective application of US GAAP LDTI have increased the scrutiny of those reviewing the updated financial results. That is because LDTI has resulted in significant changes in actuarial reserving and deferred acquisition cost (DAC) models for long-duration contracts, including significant changes to data, assumptions and required disclosures. In light of the changes, greater reliance has been put on companies’ model risk management (MRM) teams and model validations to assess the conceptual soundness and accuracy of their companies’ actuarial models and to assess that the underlying data and process utilized are suitable and appropriate. This article covers a brief background on model validation, walk through a sample LDTI-focused model validation framework/test plan, then provide insights on common LDTI-related validation observations based on the authors' prior validation experience.

Description: Observations of the meeting in Orlando of the 2017 Living to 100 Symposium, including summaries of the remarks by the guest speakers.

Description: In Memory of Elizabeth “Betty” Berni, FSA