Description: This article discusses how this improvement in performance measurement can be achieved through the use of a framework that explicitly links risk, capital and value.

Description: Estimation of hazard rates at extremely old ages poses serious challenges to researchers: 1 The observed mortality deceleration may be at least partially an artifact of mixing different birth cohorts with different mortality heterogeneity effect 2 Standard assumptions of hazard rate estimates may be invalid when risk of death is extremely high at old ages 3 Ages of very old people may be exaggerated. In this paper we propose an alternative approach, which gives an opportunity to resolve the first two problems by compiling data for more homogeneous single-year birth cohorts with hazard rates measured at narrow monthly age intervals. Possible ways of resolving the third problem of hazard rate estimation were elaborated.

Description: When an insurer classifies risks for the purpose of setting rates, one of the goals is to achieve equity. In general, however, inequities can be introduced when only certain factors are considered and others ignored. This paper, guided by ideas used by economists to measure income inequality, proposes a method of measuring this inequity. From Transactions of Society of Actuaries 1987, Vol. 39.

Description: The economic crisis and the opportunities it presents.

Description: This study, part of the Society of Actuaries [SOA} ‘Research Projects – Finance/Investment,’ is sponsored by the SOA Futurism Section, Investment Section, Committee on Finance Research and Committee on Knowledge Extension Research. This study investigates the merits of conducting a study on economic variables utilizing the Delphi method, a futures research technique. The report consists of eight documents, the report and seven Appendices [A through G].

Description: The National Association of Insurance Commissioners (NAIC) is in the middle of of a project to change the real-world economic scenario generator (RW ESG) prescribed for principle-based reserve and capital calculations. The presenters will provide a brief summary of the NAIC's RW ESG project and provide a general overview of RW ESGs. In addition to that, they will explain how RW ESGs impact principle-based reserve and capital levels and consider potential differences between the currently prescribed RW ESG and the proposed RW ESG.

Description: This meeting session, which occurred at the April 1982 Society of Actuaries meeting in Orlando, presented a discussion on the effects of the Economic Recovery Tax Act of 1981. Topics included: 1. Background - the provisions of ERTA 2. IRAs 3. Trasops 4.Stock options _.

Description: This article details the medical stop-loss coverages purchased by HMOs, small insurers and providers taking delegated financial risk in payor agreements. Along the way we will identify strategies purchasers often use to save money on medical stop-loss.

Description: The paper explores developments through 2006 in the application of market-consistent concepts to the measurement of fair values of liabilities for financial reporting purposes. A set of criteria is presented that should be useful in the evaluation of proposed fair value measurement approaches where inputs based on prices observed in an active market with reliable transaction prices are not available. Based on these criteria, one approach is examined that might serve as a basis for the fair value measurement of the liability of life insurance contracts and other financial instruments issued by insurers.

Description: Session 176: The Future of Medical Records in Underwriting