Description: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.

Description: Sponsors of DB plans are being forced to focus on their plans as never before. A confluence of events—market downturn, aging workforce and changing legislation/regulation—has meant the status quo no longer applies to companies’ DB plans.

Description: This paper considers the distribution of aggregate claims of an insurer. The general form of the distribution is considered initially, and, after a few mild restrictions are imposed, it is characterized as being a compound distribution. Followed by one submitted discussion paper.

Description: Insurance company financial reporting and performance measurement are going through a significant transformation. Insurers are beginning to look at their business based on what many refer to as the 'economic value framework.' This paper examines some of the recent changes in financial reporting for insurance contracts and then explores whether sufficient evidence exists to conclude whether a company has created value simply by the sale of an insurance contract [gain at issue], and also reviews the necessary disclosures needed to build market trust of 'next-generation' financial reporting. Specific issues related to the economic view of capital also are examined as well as some of the problems existing economic capital approaches present to the industry. This paper proposes a performance measurement approach that incorporates the market’s view of risk and the level of compensation the market demands to accept that risk.

Description: It is the purpose of this paper to outline the reasoning behind the Catastrophic Accident Hazard and some of the details of a reinsurance arrangement with Lloyds of London for managing this risk. Paper is followed by 2 discussion papers

Description: Essays advocating for incentive compensation linked to the level of risk in an organization.

Description: Presented at August 2011 46th Actuarial Research Conference. Develops the Multi-threshold Compound Poisson surplus process with interest which is useful for pricing. Then develops the Gerber-Shiu function for MAP processes featuring interest which allow claims to be factored in. Finally develops closed-form solutions of the absolute ruin probability for Erlang IAT and exponential claims.

Description: A risk map is an effective and dynamic tool in helping companies develop a broader view of their risks.

Description: The paper summarizes results from two doctoral dissertations. The first discusses integration of insurance products with investment products to mitigate the risk of outliving one’s assets. The second discusses modeling and pricing for the longevity risk in the secondary market in insurance, including a provision for adverse deviation PAD.