Description: This session discusses the Academy's efforts to address health reform, the latest HIAA activities in the health care debate, and industry implications for proposed legislation. From Record of Society of Actuaries Vol. 20, No. 3A.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: A discussion of the changes to the method of grading omitted and erroneous answers on some of the multiple choice Society of Actuaries exams and a discussion as to the equivalence of the methods in determining passing candidates

Description: The Centennial Celebration meeting in Washington, D.C., was a fantastic success. It was a clever combination of a happy celebration of our many past accomplishments and a serious consideration of the challenges that face our profession.

Description: Presidential address by outgoing Society of Actuaries President R. Stephen Radcliffe. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: An increasing need exists for the actuary to provide ranges and frequency distributions of possible values instead of providing only mean values. This discussion will cover: projections of asset experience under various economic scenarios, a practical application of profit analysis using scenarios and a deterministic model, exploring possible values by means of stochastic modeling, and a description of the new life contingencies textbook's stochastic approach and application to some practical population and census problems. From Record of the Society of Actuaries 1981, Volume 7, No. 4.

Description: This session from the 1983 SOA Vancouver Meeting covers Term Insurance including mortality and persistency experience and the impact of lapsation on profitability, mortality assumptions specifically with regard to smoker/non-smoker and reinsurance. Record of Society of Actuaries Vol. 9, No. 3

Description: This article announces that the Society Board has reaffirmed its desire to adopt actuarial principles as statements of opinion by forming a new Committee on Actuarial Principles. The types of principles considered are Basic Principles, Methodology Principles = Techniques, and Behavioral Principles = Standards of Practice.

Description: A simple mission statement for the actuarial profession could be “We do insurance risk.” Maybe in the future we could expand our horizons and just say, “We do risk.” With either statement, the main word is risk. We analyze it, quantify it, manage it, monitor it, model it and project it. We are the experts in insurance risk. We are the “engineers” of the financial security systems that have developed in free economies.

Description: This article announces the availability of The Valuation Actuary Handbook. The purpose of this handbook is to provide assistance to all actuaries who need to use cash-flow testing to validate the appropriateness of reserves. It is a “how to” manual that contains the most up-to-date considerations and techniques for the valuation process.