Description: In this article the author argues that a falling currency is a symptom of a country’s economic problems and discusses Canada’s experience through late 1997, and concludes that the government’s fiscal and monetary policies were not the long term answer to the problem.

Description: The big event of 2023 is the launch of multiple Humira biosimilars, which began in January with the arrival of Amgen’s Amjevita on the market. The launch of Amjevita kicks off the process of changing the specialty drug marketplace in the United States. The expectation of the full impact of this big event is very hopeful, but there is still uncertainty several months after its beginning. Humira is the highest-selling drug in the world and has been since 2013 (Figure 1)—except for when COVID-19 projects temporarily surpassed it. The world is eagerly awaiting the launch of multiple biosimilar drugs to compete with Humira and hopefully bring more competitive pricing to the benefit of payers and patients everywhere.

Description: A discussion of the contents of this issue of smalltalk including regulatory issues that impact insurance and smaller insurance companies. Also discussed are two major regulatory issues, health care reform and financial regulatory reform.

Description: A high-level overview of the recent release of the update to the illustration practice notes, or IPNs.

Description: These are the updated in the Taxation Section.

Description: Guy Thomas develops the theory of “loss coverage,” which is a measure of the extent to which potentially insurable losses are actually compensated by insurance. His main points of difference are: a) Adverse selection in insurance is usually weaker that most commentaries suggest … b) From a public, policy perspective, ‘weak’ adverse selection in insurance is a good thing. … c)… some restrictions on risk classification are a good thing in some insurance markets

Description: A discussion of pension reform in China at the time of the July 1997 introduction of a new unified pension system.

Description: This article provides an alternative method to the computation of the Reduction in Benefits Test under 7702A. Part 1 provided for reduction in death benefits. Part 2 provides for reduction in Qualified Additional Benefits.

Description: A recap of the SOA Research Institute's participation in the Spring 2024 NAIC National Meeting.

Description: Can we learn anything about business success, or better yet about life, from the world of politics? One would presume not, given the seeming vast gulf between these realms. Yet perhaps this personal tale of a challenge I undertook decades ago might shed some light on how independent actuaries (and entrepreneurs in other corners of business) might adopt a refreshing perspective that advances, or even transforms, their current actuarial practice’s trajectory.