Description: This paper proves that rates and premiums are not needed as input in the rating process.

Description: Reserving and ratemaking calculations are vital to how insurance companies perform financially. Current-day practices for predicting future loss ratio or pure premiums for reserving and ratemaking rates are not based on low prediction errors—mean squared error (MSE) criterion. This report provides mathematically optimal weights that lead to minimum MSE prediction errors, and the formulas are validated using retro-testing with real-world datasets. In this report, two main theorems are discussed, each addressing prediction of future loss ratio or pure premium and improving upon current practices for how rates and reserves are calculated.

Description: The COVID-19 pandemic and its economic effects have resulted in significant insurance impacts. The General Insurance Research Committee (GIRC) of the SOA put forth a call for essays exploring the potential effects on commercial liability insurance. The committee selected this essay, “Evolving Trends in Commercial Liability Insurance,” submitted by Karl Canty and Varun Balutia of EXL, and awarded them a prize of $1,000. The GIRC congratulates the authors and is happy to publish the winning essay on The Actuary website

Description: Increasing cyber incidents and emergent characteristics of cyber threats have become significant concerns for organizations, governments, and the insurance sector. The growing cyber risks, whether catastrophic risks that an entire town, country, or even world may face due to cyber-attacks, or smaller scale cyber risks such as right where you live with smart home technology, can impact technological infrastructure, public health and safety, economic security, and even political stability. The SOA Research Institute has been conducting several research projects in the area of cyber security risks and the impact of those on insurance companies. Discover these research projects meant to inform actuaries of the ways in which risks can be incorporated into their models, product design, and risk management frameworks. Also, explore research reports that explore new technologies and the development of tools which can aid both practitioners as well as other researchers.

Description: The Casualty Actuarial Society (CAS), the Society of Actuaries (SOA) and the Society of Insurance Research (SIR) started developing research addressing diversity, equity and inclusion (DEI) topics. Join panelists as they briefly present an overview of their organization's DEI research and share their perspectives on common challenges facing all the stages of this research: - Planning relevant and timely research with a long timeline. - Getting appropriate data and resources to support your research. - Communicating research on topics that may be controversial.

Description: This research report introduces Delta Boosting as a new member of the boosting family.

Description: This article discusses the global capital standards for Global Systemically Important Insurers (G-SIIs) and Internationally Active Insurance Groups (IAIGs) currently being developed by the International Association of Insurance Supervisors (IAIS).

Description: A summary and analysis of REG-103163-18, the proposed regulations providing guidance for property-casualty loss reserve discounting (LRD) under IRC Section 846.