Description: Building on the Part 1 article, Introduction to the Representative Scenarios Method, this article describes testing the methodology with respect to four product types, fixed indexed annuities with GLIBs, level term life insurance, universal life with secondary guarantees, and variable annuities with GLWBs. This Part 2 article describes testing results, refinements to the RSM methodology, and next steps.

Description: Article attempts to address the question in the title.

Description: A warning about keeping top management fully and clearly informed about enterprise risk assessments, as illustrated by some actual and fictional stories.

Description: Discussion of how non actuaries are taking on many of the enterprise risk management roles of insurance companies. Discusses changes actuaries need to make to re-assert their roles. Also discusses roles actuaries can play in enterprise risk management outside of the insurance and pension industries

Description: This article describes the growing trend toward more concern about events that are not likely to occur, but have a very adverse impact on a company when they occur and on reflecting the unique situation of individual companies. It mentions two recent initiatives, the change in the C3 formula of RBC and scrutiny of liquidity risk.

Description: The direct and indirect effects of the pandemic have impacted many actuaries’ work since the spring of 2020. This article addresses three considerations actuaries should account for when using risk evaluation models which are focused on projecting remote, highly unlikely losses: model effectiveness, asset risk, and insurance (mortality and mortality) risk.

Description: Based upon Salim Ismael's keynote address at the SOA Annual meeting in Austin as well as his book Exponential Organizations, this article discusses the disruptive power of two significant trends: the transformative power of new, scalable technology, and the generational shifts caused by Boomers leaving the workforce and Millennials' rise to prominence.

Description: Discusses the use of ERM in the world of small insurance companies.

Description: Metadata for entire issue

Description: Describes several regulatory changes that may impact the actuary working in a small company. These changes are not related to Principle Based Reserving.