Description: Panelists discuss the subject of data modeling and then its application to benefit guarantees on variable annuities. Session 36PD of the 2005 Valuation Actuary Symposium.

Description: This teaching session covers primarily hedging strategies, including mechanisms, assumptions, and simulation. Hedging used for guaranteed living benefits on variable annuities is frequently discussed. Session 7TS of the 2005 Valuation Actuary Symposium.

Description: Panelists and participants discuss the past and present, and debate the future, of Actuarial Guideline 38. Session 22OF of the 2005 Valuation Actuary Symposium.

Description: Three industry actuarial experts respond to pre-submitted and from-audience questions regarding the future of the valuation actuary, and statutory and GAAP accounting issues. Session 30OF of the 2005 Valuation Actuary Symposium.

Description: Panelists discuss: [1] an overview of the market, the product, and interest modeling, [2] current product-related regulatory activities with the NAIC and elsewhere, and [3] dynamic hedging. Session 31PD of the 2005 Valuation Actuary Symposium.

Description: Panelists discuss consumer-directed health plans [CDHPs], describing: [1] plan design, how they work, and pricing considerations, [2] various reserving issues, and [3] the current and future marketplace for the products. Session 43PD of the 2005 Valuation Actuary Symposium.

Description: Panelists discuss economic capital, capital modeling, and hedge modeling, especially for guaranteed living benefits [GLBs] on variable annuities. Session 34PD of the 2005 Valuation Actuary Symposium.

Description: Provides an overview of the proposed regulations for calculating risk-based capital [RBC] C-3 Phase II and statutory reserves [VACARVM] on death- and living-benefit guarantees provided by variable annuities, and their status. Panelists also discuss the conceptual and practical considerations involved with mapping investment options to modeled funds, setting assumptions for revenue-sharing, mortality, and other prudent best-estimates, selecting model points and major design decisions, coordinating the required calculations, and handling the workload at year end along with documentation requirements. Session 25PD of the 2005 Valuation Actuary Symposium.

Description: Participants [panelists and audience] discuss the lessons learned from implementation of the AICPA’s Statement of Position [SOP] 03-1, Accounting and Reporting by Insurance Enterprises for Certain Nontraditional Long-Duration Contracts and for Separate Accounts, in particular: reserves for guaranteed minimum death and annuitization benefits on variable annuities, implications for DAC amortization, accounting for sales inducements, application to universal life contracts, and variations in practice. Session 17OF of the 2005 Valuation Actuary Symposium.

Description: 2004 SOA Annual Meeting and Exhibit, New York. The panelists discussed methods of assessing catastrophic risk, offered insights into how reinsurers evaluate it, and discussed tools that assist in quantifying and evaluating the risk.

Description: Proposals and ideas are discussed with regard to pension accounting standards. From the Record of the Society of Actuaries, Vol. 30, No. 3.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This session on term insurance covered the general term insurance marketplace, return of premium term, and securitization and how that has impacted the term marketplace.

Description: The panel offers a summary of the Medicare Modernization Act signed into law in 2003, which implemented sweeping changes to the Medicare program. Topics include Medicare Advantage, the impact on Medicare Supplement, Part D, and the impact on retiree health plans. From Record of Society of Actuaries, Vol. 30, No. 3, Session 127

Description: The panel presents the evolution of enterprise risk management within the actuarial profession from the perspectives of an actuarial educator, an actuarial recruiter and a corporate risk officer. From the Record of the Society of Actuaries, Vol. 30, No. 3.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This discussion looked at individual life insurance and annuity products and the risks these guarantees carry, such as: 1. Extended maturity benefits. 2. Secondary guarantees. 3. Guaranteed insurability. 4. Guaranteed minimum living and death benefits in VA.

Description: At this session of the SOA 2004 Annual Meeting, the authors of a text on mergers and acquisitions each discuss their contribution to the book, which covers all aspects of an acquisition.

Description: 2004 SOA Annual Meeting and Exhibit, New York. The panelists addressed fixed annuity regulatory issues with emphasis on the annuity nonforfeiture law, current trends and product design, and how reinsurance can address the conflicting issues of competitiveness and profitability.

Description: Panelists discuss the various approaches different entities take with respect to equity product valuation for financial statements and risk-based capital measures. From Record of Society of Actuaries, Vol. 30, No. 3.

Description: 2004 SOA Annual Meeting and Exhibit, New York. This session is about pricing life and VA products with untested new features in an uncertain environment.

Description: This is a highly interactive role-playing session detailing the actual product development process for a hypothetical health care product. From Record of Society of Actuaries, Vol. 30, No. 3, Session 19

Description: 2004 SOA Annual Meeting and Exhibit, New York. Panelists discussed current issues in emerging markets, such as China Life's initial public offering and the impact of new international accounting standards.

Description: The image campaign for the actuarial profession is described. From Record of the Society of Actuaries, Vol. 30, No. 3.

Description: Panelists discuss recent acquisitions and mergers from a variety of perspectives. From the Record of the Society of Actuaries, Vol. 30, No. 3, Session 90

Description: This session 4 OF of the 2004 Valuation Actuary Symposium discusses the links among shareholder value, investor trust and Sarbanes-Oxley compliance. Approaches to designing, documenting and implementing sustainable control structures as required by Sarbanes-Oxley will be explored. Uses of these control systems to monitor, sustain and improve performance are discussed.

Description: The session at the 2004 Valuation Actuary Symposium describes current risk mitigation techniques and their impact upon valuation systems including hedging mechanisms, regulatory relief, GAAP measurement, product 'quarantine', realistic assumption changes, maximizing returns and minimizing litigation.

Description: Attendees at session 41 OF of the 2004 Valuation Actuary Symposium are encouraged to send in their hot button issues, as panelists will offer their perspective and encourage participation.

Description: This session at the 2004 Valuation Actuary Symposium provides an overview of statutory valuation issues for life and annuity products including the Actuarial Opinion and Memorandum Regulation, variable products reserving standard, adoption of 2001 CSO, C-3 Phase II RBC project and nonforfeiture changes.

Description: Panelists in this session at the 2004 Valuation Actuary Symposium discuss current embedded value and fair-value practices, similarities and differences between embedded value and fair value, and benefits and drawbacks of embedded value, fair value and other measurement systems for internal management purposes.

Description: Panelists discuss prevailing business models, as well as the role of the home office, adopted by valuation departments to meet business needs. Potential business models include decentralized subsidiary models, centralized hub, outsourced to external vendor and hybrids.

Description: In the past, risk management has not been an integrated process in insurance companies. Changes in the financial industry refocused management attention to risk management. Management is starting to develop new ways to examine financial risks holistically in an integrated model: from 2004 Valuation Actuary Symposium, session 29PD.

Description: This panel discussion at the 2004 Valuation Actuary Symposium provides an overview of the current risk-based capital [RBC] requirements for life insurers, as well as insight into topical issues and potential changes in RBC.

Description: This session at the 2004 Valuation Actuary Symposium offers a basic understanding of how to calculate statutory reserves, GAAP reserves, and deferred acquisition cost for a universal life product.

Description: At this session 7OF of the 2004 Valuation Actuary Symposium panelists discuss the conceptual and practical issues of modeling to reflect developing areas, including fair-value and embedded-value measurement, embedded guarantees and stochastically determined capital requirements.

Description: Panelists discuss statutory valuation issues associated with life insurance premium guarantees. Topics include actuarial opinion and X-factor analysis, 2001 CSO and mitigation strategies such as product design, reinsurance and securitization, session 30OF of the 2004 Valuation Actuary Symposium.

Description: This session 60OF of the 2004 Valuation Actuary Symposium open forum addresses current issues of interest to actuaries in the application of U.S. GAAP. Experts in the application of GAAP to life insurance companies lead discussions on the theoretical and practical aspects of these topics and other emerging issues.

Description: This session 5TS of the 2004 Valuation Actuary Symposium covers the need to model assets in insurance companies has gone well beyond compliance with cash-flow testing requirements. Robust asset modeling techniques are needed in order to quantify risk exposures appropriately and to comply with a widening array of liability valuation and capital adequacy calculations that rely on stochastically modeling the interaction of liabilities and the assets that support them.

Description: This session 8 PD of the 2004 Valuation Actuary Symposium focuses primarily on the Academy's development of nonformulaic statutory risk-based capital and reserve standards for death and living benefits.

Description: This presentation is a panel discussion, session 56PD, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. Tail risk, long recognized as important to insurance organizations, is being evaluated in a new light, with new approaches. The panelists review various approaches for measuring tail risk and how to price for tail risk using capital-market consistent techniques. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004. Arguments regarding the rights to deny reinsurance claims are presented by a representative of both a direct writer and a reinsurer.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 The panelists discuss the benefits of hedging variable annuity guarantees, the challenges they face and how they keep score.

Description: This panel discussion was session number 3 at the 2004 Society of Actuaries Spring Meeting, held in San Antonio, TX June 14-15. The panelists explored the problems between actuaries and IT people, how neither either understands the other's perspective, with frustrating results for both sides. But the speakers feel that, “with some tolerance and understanding, both can profit from the other's approach.” A theme in the discussion was that better communication will improve understanding. From the Record of the Society of Actuaries, Volume 30, No. 2.

Description: This presentation is a panel discussion, session 54PD, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. This session covers the impact of segmentation and underwriting on expected mortality and morbidity. Panelists discuss the importance of data mining and customer selection on ultimate experience, setting up direct marketing applications with the right type of questions to maximize responses but limit risk, the use of prescription drugs and other databases, and industry practices for obtaining customer information. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: This presentation is a lecture, session number 8L, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. The speakers discuss the increased competition in the financial services industry for risk-management roles, decreased influence of actuaries in the insurance world, increased criticism of actuarial techniques in the media and press e.g., pensions, and how the actuarial profession is reacting. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: Slides from a panel discussion session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 Discussion of the basics of actuarial appraisals: Panelists discussed the reasons to perform an actuarial appraisal, the processes involved, issues that should be addressed and assumption development.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 Discussion of risk and pricing issues of particular concern with respect to life insurance and annuity products in times of relatively low interest rates

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 This session discusses emerging capital and reserve requirements on Variable annuities with guaranteed benefits and the effect that hedging/capital management strategies can have.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 This session covers different methods for estimating future volatility of financial markets, how to predict the effect of volatility on insurance company results, alternative approaches to managing volatility and the impact on volatility management on the choice of modeling method.

Description: This presentation is an open forum, session 48OF, from the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX. The panelists focus on emerging U.S. GAAP accounting issues, and the implementation issues encountered by affected companies. The panelists discuss Statement of Position [SOP] 03-1 on nontraditional long-duration life insurance contracts, the SOP on internal replacements, and the impact of the Derivatives Implementation Group issue B36 on embedded derivatives for modified coinsurance and funds withheld reinsurance. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 2.

Description: From a session at the Spring meeting of the Society of Actuaries held in San Antonio, Texas, June 14-15, 2004 Speakers discuss the approaches to quantifying investment risk, including the credit risk subcomponent and mismatch risk sub-component in the three different types of risk-based capital RBC framework commonly used, such as regulatory, rating agency and company-specific economic-based formulas.

Description: This presentation is an open forum, session 11OF, from the 2004 Spring Meeting of the Society of Actuaries, held May 19-21 in Anaheim, CA. The panelists note that defined benefit [DB] pension actuaries are finding themselves working in new and expanded roles in the new millennium, and discuss the answers to challenging questions raised by working in this environment, such as what additional training is recommended, and what the unique challenges and rewards are. The panelists look at the future with respect to the DB actuary, with respect to less traditional roles in that area as well as opportunities in the area of defined contribution plans. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 1.

Description: Measurement and benchmarking of surplus levels provide health plans with valuable insights regarding their financial strength and performance. This session discusses target surplus and reserves for health plans. From Record of the Society of Actuaries, Volume 30, No. 1, Session 50

Description: This presentation is a panel discussion, session 107PD, from the 2004 Spring Meeting of the Society of Actuaries, held May 19-21 in Anaheim, CA. Research results from the National Long-Term Care Survey and other surveys of the general elderly population indicate that age-specific morbidity [functional disability] prevalence rates have dropped significantly since 1982. The panelists quantify the nature of the temporal trends in disease morbidity and functional disability, noting that what is really new in this session is looking at the joint impact of changes in disability and mortality. They illustrate the potential impact of these temporal trends on long-term care insurance LTCI pricing and valuation, and provide some guidance as to how this material can be used by LTCI actuaries. Discussion from participants is included. From the Record of Society of Actuaries, Volume 30, No. 1.

Description: This presentation from Session 54 of the SOA May 2004 Anaheim Spring Meeting discusses the importance of building a winning culture in order for a company to survive in today's increasingly complex, high-velocity, changing environment. From the Record of the Society of Actuaries, Vol. 30, No. 1.

Description: Panelists discuss their practices and experiences implementing risk measurement and management for various health insurance product lines including disability income, long-term care, medical/managed care and group insurance products. From Record of Society of Actuaries, Vol. 30, No. 1., Session 65

Description: The panelists in this session discuss recent developments impacting the actuarial valuation of retiree health benefits. Topics include Medicare prescription drug reform, FAS 106, and proposed GASB statements. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 19

Description: 2004 SOA Spring Meeting, Anaheim, CA. This session presented expert views on emerging issues that have technical and practical ramifications for plan sponsors, participants and/or advisers. It offered attendees an opportunity to gain a better understanding of the current retirement system's regulatory environment and how it has changed.

Description: Panelists review the history of why Medicare has lacked prescription drug coverage and why some of the previous proposals have failed. The session then discusses drug coverage in Medicare Advantage, Medicare Supplemental plans and Part D. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 106pd.

Description: This open forum begins with a presentation of the final report of the Society of Actuaries Individual Disability Experience Committee. This report encompasses claim incidence and termination rates based on a decade of industry experience. From Record of Society of Actuaries, Vol. 30, No. 1.

Description: The panel demonstrates a technique that can help set confidence intervals regarding future rate increases used to satisfy the NAIC rate stabilization model. Specific topics include creating a stochastic model, deciding which variables are deterministic vs. stochastic, developing probability distributions for the stochastic variables, running the model and evaluating the reasonableness of results. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 21

Description: Panelists discuss key public policy issues relating to access, coverage, and financing of health care, as well as current health care reform proposals. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 47

Description: This session discusses the valuation of group long-term disability [LTD] claims. Topics include general valuation issues [duration, claims, reserves, offsets, administration expenses], reviewing financial results, GAAP LTD margins and the impact of margins on pricing. From Record of Society of Actuaries, Vol. 30, No. 1, Session 70

Description: This session discusses the role the Academy plays in helping policymakers understand the implications of health policy decisions. This session also includes an overview of the Health Practice Council, Hill briefings and recent legislative issues. From Record of Society of Actuaries, Vol. 30, No. 1, Session 62

Description: This session covers current topics of interest to self-funded health benefit programs. Topics include carve-out of pharmacy, participation in employer coalitions for pooling of risk and negotiating favorable terms with providers and administrators, stop loss insurance market developments and transparency. From the Record of the Society of Actuaries, Volume 30, No. 1, Session 51

Description: Disability insurers are showing an increasing interest in benefits that tie closely to long-term care. Several insurers have developed disability products that offer additional disability benefits based on the loss of activities of daily living, while others offer options to convert disability policies into long-term care policies. From Record of Society of Actuaries, Vol. 30, No. 1.

Description: This session from the 2003 SOA Orlando Meeting covers an update on IASB developments related to international accounting standards for insurance, fair value versus other measures, recognition of profits or losses at issue and balance sheet versus income statement focus for financial reporting. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting focuses on the actuary's role and responsibility in the financial reporting process. It covers peer-review standards in Canada, Sarbanes-Oxley and the implementation of both in financial reporting. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting provides an overview of how insurers, pension plans and other institutional investors measure and report manager performance, the benchmarks used and capital at risk CAR. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting focuses on WL and UL insurance products offered in the U.S. and Canada, market and regulatory differences and similarities, the comparison of product offerings and an overview of current issues in product development. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting covers the growing area of enterprise risk management ERM. It provides an overview of an ERM framework as well as issues and challenges of implementation. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting covers the paramount importance of professionalism and also provides a cautionary tale about its disappearance from corporate life. From the Record of the Society of Actuaries, Volume 29, No. 3, Session 110gs.

Description: This session from the 2003 SOA Orlando Meeting presents medical advances, common diseases and the resulting trends for the future on longevity and morbidity risk, underwriting trends and measuring the impacts of the changes. From the Record of the Society of Actuaries, Volume 29, No. 3.

Description: This session from the 2003 SOA Orlando Meeting discusses the new risk-based capital RBC requirements for variable annuities with guranteed benefits such as guaranteed minimum death benefits - GMDBs and guaranteed minimum income benefits - GMIBs. From the Society of Actuaries Record, Volume 29, No. 3.

Description: Panelists discuss recent events in the area of risk management and solvency regulation. Actuarial roles and opportunities in enterprise risk management and as chief risk officers are specifically addressed. From the Record of the Society of Actuaries, Volume 29, No. 3, Session 75

Description: This session at the 2003 Valuation Actuary Symposium discusses asset model validation techniques. Applying the results of a cash-flow testing model to other uses is explored. Also, the proliferation of embedded option derivatives, both on the asset and liability side of the balance sheet, both for pricing and for valuation, are discussed.

Description: This session at the 2003 Valuation Actuary Symposium discusses advanced modeling techniques. Focus is on advanced liability and asset modeling issues, model distinctions between types of variable annuity guarantees, stochastic mortality, stochastic-on-stochastic modeling, and alternatives to stochastic modeling.