Description: This is a panel discussion session examining the complaints of life insurance consumers. The subjects include readability of contracts, risk classification methods, variety of product including the meaning of product names- what does the customer think he/she is buying or has bought, perceived lack of competition,

Description: In this paper, Chapter VII of the 1987 Valuation Actuary Handbook, the author, an attorney with the American Academy of Actuaries, discusses the valuation actuary concept, starting with the current regulatory system. The potential legal implications, including personal liability, are explored. The author notes that “perhaps most significant is the fact that by increasing the scope of the valuation actuary’s duties, the nature and scope of potential professional liability also increase.”

Description: This open forum session, which occurred at the April 1982 Society of Actuaries meeting in Orlando, discussed developments in life insurance products which are funded in a separate account of a life insurance company.

Description: Presented at June 1986 Spring Meeting. This session discussion is about the regulatory environment for banking and insurance, the crossover opportunities and the various types of sales distribution alternatives. Consideration also will be given to the obstacles in such a relationship, including corporate culture and the various risks involved for both the bank and the insurance company.

Description: From a session at the annual meeting of the Society of Actuaries held in Chicago, Illinois, October 15-18, 2000 Discussion of the Gramm-Leach-Bliley Financial Services Modernization Act - HR-10.

Description: Discussion of the current business environment, the profile of the actuary who can meet these needs, directions corporations will take in the 21st century, economic and demographic trends that will affect the environment and markets over the next decade. The panelists discussed the need to be pro-active in shaping the environment.

Description: This panel discussion session examines the marketing and pricing considerations of group insurance in the 1980's.

Description: Sequel to the author's paper The Taxation of Insurance in Canada, which was published in 1970 in Volume XXII of the Transactions. The first paper covered the history of insurance taxation in Canada through 1969, including a description of the radical changes that became effective that year as an early phase of tax reform, following the 1967 recommendations of the Royal Commission on Taxation. Further general tax reforms became effective in 1972, including the introduction of taxes on capital gains a number of clarifications and refinements were also enacted in 1973. The present paper outlines these general changes, with particular emphasis on their effect on insurance. Finally, a completely revised mathematical presentation of the taxation of insurance corporations is given, together with formulas and examples of the marginal taxation rates on various kinds of income and disbursement of such corporations. Followed by discussion papers submitted by 2 authors

Description: This article consists of excerpts from the author’s presidential address to the Southeastern Actuaries’ Club on November 21, 1980. The author notes ‘the only thing we could all possibly agree on today about the economic situation is that the degree of uncertainty is high,’ and ‘it is this uncertainty that presents us actuaries with professional problems which cannot be addressed by traditional methods.’ In explaining how we can deal with inflation and uncertainty the author argues for repeal of both the Standard Valuation Law and the Standard Nonforfeiture Law.

Description: The author reviews and provides analysis of a report prepared by Douglas H. Carruthers, Q.C., as special legal counsel, to review the relationship between insurers and the public and in particular, the role of insurance intermediaries in the province of Ontario. The report was completed in 1975 and made public in 1976, and effectively recommends a new regulatory framework. The author of this article analyses and critiques the various proposals in the report.