Description: Many insurers preparing market consistent financial statements encounter the issue of developing volatility assumptions for equity options and guarantees that are longer than any observable market data. This presentation develops a generalization of the classical Black Scholes option pricing model that is consistent with the European CRO Forum's framework for valuing non-hedgeable risk. The presentation argues that, with reasonable parameter choices, the model fits observed volatility surfaces well enough that it can be used to estimate implied volatilities where no market data exists.

Description: Excerpt from '10 Tips for Effective Business Communications' by Tina L. Miller. provides fundamental suggestions for communicating effectively in writing.

Description: This is the 2004 credit disability study report compiled by the Credit Insurance Experience Committee of the Society of Actuaries in July, 2005. The study was undertaken to update the basis for unearned premium reserves for single premium credit disability insurance.

Description: A Towers Perrin proposal for pension funding reform.

Description: This article describes the actuarial program at the University of Michigan. From The Actuary, Vol. 2, No. 9.

Description: This article is about TSA papers

Description: Article from The Actuary, May 1993, Volume 27, No. 5 that announces papers that have been accepted for publication in Volume 45 of the Transactions.

Description: This paper reviews the life cycle of a typical pension plan, examines the issues relating to its funding, and proposes a new funding approach that tries to balance the various concerns. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: Panelists at this session of the SOA 1997 Palm Desert Spring Meeting discuss the types of health care reform ideas and how they are analyzed, the specific programs currently in proposed legislation, and the role of the American Academy of Actuaries in the process.

Description: This session explores where financial engineering is applied, who is “leading the charge,” and what are the current and future roles of actuaries. From the Record of the Society of Actuaries, Volume 27, No. 2, Session 55PD of the Toronto Spring Meeting.