Description: This paper deals with the policy reserves for future benefits that arise under retrospectively experience-rated group insurance policies. The reserves discussed are true policy-year reserves and should not be confused with the statutory rating refund liability, which represents the amount of the current policy year's dividend or experience rating refund earned between the last policy anniversary and December 31.From Transactions of Society of Actuaries 1983, Vol. 35.

Description: This paper presents a new insight into the mathematical structure of asset share-type calculations. Asset shares are interpreted as accumulations of insurance cash flows, which along with their related investment income, are treated as Stieltjes integrals. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper addresses the extension of the theory of life contingencies to a stochastic interest environment and its application to solvency valuation and surplus. A discussion of the paper follows. From Transactions of Society of Actuaries 1990, Vol. 42.

Description: This paper describes a streamlined procedure for allocating investment income which permits the application of a single current investment-year interest rate, together with an averaged rollover rate, to an adjusted asset base to give essentially the same results as the traditional investment-year method. It also includes a discussion of the paper. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: The principal purpose of this paper is to examine some of the factors that must be considered if the concept of investment generations is applied to the distribution of investment income within individual life insurance lines of business. It also includes a discussion of the paper. From Transactions of Society of Actuaries 1977, Vol. 29.

Description: This paper discusses future projections of operations for both new and existing companies. The author proposes and discusses 3 basic methods - model office, analysis of operations and an 'overall method. The model office, being the most detailed, delves into how to approach each major item in the summary of operations.

Description: This paper represents an attempt to formulate a cohesive and consistent approach to the analysis of claim liabilities. Probabilistic tools from risk and queuing theory have been incorporated into a stochastic model that quantifies the variability inherent in such liabilities and at the same time reproduces intuitive results that may be arrived at from a deterministic standpoint.

Description: Discusses the need for a new life insurance valuation mortality table to replace the 1941 CSO, the authorization by the NAIC to form a committee to construct such a table, and the preliminary table developed.

Description: This paper reviews the unitary and term methods for apportioning net premiums over the life of nonlevel-premium policies and recommends a new method, the unified method, as a method conforming more to the principles of the Standard Valuation Law and accepted actuarial principles. A discussion of the paper follows. From Transactions of Society of Actuaries 1990, Vol. 42.

Description: This paper proposes a hypothesis that the negative public policy implications of durational rating strategies in the medical insurance market are caused by lack of prefunding of durational deterioration of experience and constitute a failure to maintain an important part of the original insuring promise. To solve the problem, a practical and simple reserving basis is proposed as a regulatory standard. Discussions of this paper are included.