Description: Three 1983 U.S. Supreme Court pension-and-welfare-related opinions, viz. a. Shaw, b. Construction Laborers, and c. Morrison-Knudsen, merit at least passing attention by actuaries even though their impact upon the actuary’s work may vary from slight to significant.

Description: A commentary on whether or not the Illustrations Regulation has been successful.

Description: This newsletter provides a regulation outlook for the use of AI/ML in insurance industry, interpretations of regulatory expectations and what insurers should consider when managing risks associated with the development, implementation and use of AI/ML models/tools.

Description: Summary of the upcoming activities for the Smaller Insurance Company Section in 2016.

Description: Guy Thomas develops the theory of “loss coverage,” which is a measure of the extent to which potentially insurable losses are actually compensated by insurance. His main points of difference are: a) Adverse selection in insurance is usually weaker that most commentaries suggest … b) From a public, policy perspective, ‘weak’ adverse selection in insurance is a good thing. … c)… some restrictions on risk classification are a good thing in some insurance markets

Description: In this translation of an original article by Oscar E. Velandia, the role of the actuary in the Colombian insurance market place in light of regulatory change is examined. A comparison with the rules from the Solvency II Directive puts the actuarial function into context. In addition, the new financial reporting requirements set forth by IFRS 17 and the involvement of the actuary in finance is described.

Description: A discussion of the events of the NAIC Summer National Meeting in Seattle.

Description: Review of changes made to life insurance taxation in Australia.

Description: This article discusses the Society of Actuaries Foundation's first consumer education program and how it is filling a gap by providing information on Social Security.

Description: Book review of The Brookings Institution, Washington D.C., 1974, pp. 269 Setting National Priorities, the 1975 Budget. Federal spending now accounts for at least one-fifth of the entire U.S. economy. It is the single most important expression of America's priorities. The material in the book is a fertile source of material for the needed debate.