Description: This presentation is an open forum from the 1991 Annual Meeting of the Society of Actuaries, held October 20-23 in Toronto. The focus from the panelists is on emerging trends and issues as they relate to the current market environment, discussing new products on the horizon, including market-value adjusted products, income products, and variable products, the importance of due diligence, and in-force annuity management. The panelists emphasize the importance of the public’s perception of and confidence in the insurance industry. Discussion from participants is included. From the Record of Society of Actuaries, Volume 17, No. 4B.

Description: 1987 Valuation Actuary Handbook: Chapter 1: Addresses life insurance company statutory reserve valuation.

Description: This presentation is the luncheon session from the 1987 Valuation Actuary Symposium. The speaker starts with a discussion of philosophy, and defines ethics as concerning the determination of which human actions are right, and thus should be performed, and which are wrong, and thus should be avoided. The speaker goes on to explain that ‘in addition to a general ethical theory, as a professional you need a special code of ethics simply because you are a professional,’ discussing how different professionals have different responsibilities and relationships to their clients.

Description: From the 1985 Valuation Actuary Symposium. Discussion on the role of valuation actuary.

Description: From the 1986 Valuation Actuary Symposium, held in Washington DC in October 1986 Discussion of the future role of the valuation actuary

Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: Presented at May 1996 Spring Meeting. Panelists discuss the impacts of preparing reserves and an Actuarial Opinion and Memorandum caused by differing reserve requirements in each state.

Description: This 1981 session concerned Individual Life Insurance Cost Disclosure Issues including i. Current Status of Cost Disclosure Requirements 2. Responses to Cost Disclosure Pressures 3. Future Needs and Problems 4. Vehicles Available to Effect Changes There is also a discussion of replacements and the need for better communication of the comparisons of the replaced policy to the new policy to prospective buyers.

Description: Presented at September 1995 Valuation Actuary Symposium. This session will go over the confusing reconciliation requirements which appointed actuaries have to comply with before signing off on the actuarial opinion.

Description: From the 1985 Valuation Actuary Symposium A perspective on the role of the valuation actuary and how it has and will change in the USA, Canada, and the UK.