Description: This abstract describes a report that studies the social media response to three extreme tornado outbreaks in the Midwest United States.

Description: Read the November 2018 issue of Reinsurance News published by the Reinsurance Section.

Description: The Society of Actuaries’ (SOA’s) educational track on General Insurance (property and casualty) was recently recognized by both Hong Kong and Singapore regulators.

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: Comprehensive insurance covers theft and any vehicle damage not caused by a collision, but rather by natural causes or those of pure happenstance.