Description: The author describes the 29th. edition of the International Summer School, held in Lausanne, Switzerland, organized by the Swiss Association of Actuaries.

Description: We define what we believe a model validation should entail and the value proposition that it offers.

Description: In the second half of 1997, magazine and newspaper reports started appearing in droves about the presumed doomsday of Jan. 1, 2000, for any and all activities associated with computers. This article discusses the 'Y2K problem' and the costs of addressing it.

Description: Presented at October 1985 Annual Meeting. Discusses risk measurement and quantification, cash-flow-based surplus, factors that affect benchmark surplus, how multiple risks can be combined for benchmark surplus, benchmark surplus and the valuation actuary, and uses of benchmark surplus formulas.

Description: Overview of Investment Section activity and vision ahead.

Description: Learn industry best practices including challenges faced by retirees, such as needing exposure to growth, most exposed to sequencing risk, and the need for smooth returns to avoid poor investor behavior caused by risk aversion. Other topics will include how to set investment objectives which consider the members’ real-world needs and how to build portfolios and implement risk management strategies to meet those objectives. The speaker will provide real-life examples/case studies.

Description: Enterprise Risk Management is often thought to be synonymous with managing an insurance company toward financial objectives with a focus on insurance-specific risks. Some might argue though that operational risks are the crux of all risks confronted by an insurance company and ultimately drive the company’s outcomes.Operational risk is the risk of impact on financial outcomes due to operational events, involving internal systems, personnel, procedures or controls, and also external events. Operational risk exists in all business activities, covering fraud, human error, accounting errors, legal actions and system failures. All of these activities could occur during the course of conducting day-to-day business operations. Additionally, insurance executives must consider the pace of change in the external environment and potential impacts on their business. This presentation is focused on operational risks, current and emerging, faced by health insurance companies.

Description: This session discussion is about methods for determining and adjusting contingency surplus. From Record of the Society of Actuaries Vol. 15, No. 2.

Description: This paper describes the application of source of earnings 'SOE' analysis methodology to the reported pre-tax GAAP income of universal life and other interest-sensitive life and annuity products.

Description: This report examines the circumstances that lead to systemic risk and proposes a new definition.