Description: Risk management techniques do not include system science. System science requires that the uncertainty of the world is incorporated into the results. The articles explains the difference between risk and uncertainty. Learn how risk practices create an overoptimistic view of future outcomes.

Description: Microinsurance mechanisms provide coverage to low income earners, but a growing middle class is often lacking adequate access to insurance services. The author explores ways in which insurance may be more accessible.

Description: Book Review: Energy Crisis. This book will be of interest to actuaries who routinely making long-range assumptions in their daily work with regard to future interest rates and general economic conditions.

Description: This report is a brief summary of a symposium held in Sweden in March 1972, initiated and sponsored by the Swedish insurance companies which discusses the side effects of the development of modern chemical industry and the exposure of living organisms to a variety of chemicals in the environment. The danger of the long term effects on health are addressed.

Description: On October 30, 2006, the UK government's Stern Review on the Economics of Climate Change made startling claims about the present value today of climate change effects predicted to emerge primarily 150 years or more in the future. The ensuing debate included challenges to and defenses of the particular methodology used and parameter values selected to perform the discounting of future values. Noticing an overlooked faux pas in the Stern Review, this presentation uncovers the likely motivation for choosing the most mystifying of the parameters values, and provides a lesson on the underpinnings of the basic tool of actuarial science.

Description: This article is the second installment in a three-part series on economic scenario generators (“ESGs”). Part I was published in the November 2019 issue. Part II addresses critical considerations in selecting, building, using, and validating ESGs. The article discusses key criteria in understanding ESGs including: - Risk factors - Scenario type - Process and parameterization - Calibration - Number of scenarios - Timing considerations

Description: The Consumer Price Index CPU affects almost all Americans in some way. As the most widely used measure of inflation for the U.S. economy, the CPI is a key indicator of the effectiveness of government economic policy.

Description: In this session, we will explore investment solutions that aim to maintain the long-term viability of a pension plan, with considerations on hedging interest rates, credit, inflation, longevity and other risks, while accounting for the many particularities associated with underlying liabilities and their corresponding ramifications.

Description: Foreword to monograph presenting results of a Price, Waterhouse study on behalf of SOA. From Study of Public Financial Guarantee Programs, M-FI96-2.

Description: Essay discussing cost, quality and access of healthcare and then describes the need for rationing.