Description: Presents brief biographies for the following authors: Robert L. Brown, Jacques F. Carriere, Hans U. Gerber, Lee Giesecke, Bruce L. Jones, Michael Sherris, Elias S. W. Shiu and Charles L. Trowbridge. From the Transactions of Society of Actuaries 1994, Vol. 46.

Description: The Product Development Section has recently sponsored research on waiver of premium and waiver of charges riders. Waiver riders are commonly offered as optional benefits or included automatically on individual life insurance policies as an integrated benefit. In the event of disability, a waiver rider may waive future life insurance premium due or contribute an amount to a flexible account, such as the average premium paid over the past year or the cost of insurance charges. Despite the prevalence of these riders, the current valuation standard is still the 1952 Society of Actuaries (SOA) Disability Table.

Description: This article discusses index-linked securities, in light of the recent “Inquiry into the Value of Pensions” a committee set up by Prime Minister Margaret Thatcher “to consider the value of the differences in inflation protection of private pensions and job security, comparing those for civil servants with others.” The committee endorsed index-linked pensions for civil servants and private sector, and as a result the U.K. government issued index-linked bonds for the use of pension plans.

Description: This article focuses on one fundamental modeling assumption — the choice of a benchmark rate or risk-free rate. The author looks at this bond market assumption as a case study of how one needs to monitor fundamental market changes for their impact on assumptions.

Description: Describes a case study of estimating insurance liability dollar value of 1 bp using a polynomial approximation. The polynomial approximation is calibrated using a least-squares fit to results under a multi-scenario projection

Description: Summary of PBR Implementation Task Force June 21, 2013 call and June 25, 2013 LATF call.

Description: Summary of April 2020 Investment Section Town Hall and come additional commentary.

Description: As part of the 2019 Disruptions to the Actuarial Profession Contest, this essay posits that the actuarial profession should respond to other fields encroaching on its space, particularly software development and data science, not by a defensive reaction to establish a boundary between fields but instead by a welcoming attitude that seeks to utilize expertise from other fields while maintaining the actuarial role of comprehensive risk management and its hard-earned professional trust.

Description: This article covers a session at the 1975 Spring Cincinnati Joint Meeting of the Conference of Actuaries in Public Practice and Society of Actuaries. It discusses the following issues: allocation of plan termination liabilities, reports between triennial valuations, actuarial certification, changes in assumptions and Canadian requirements. 1975 Record Vol. 1, No. 3

Description: Read the May 2020 issue of Reinsurance News published by the Reinsurance Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.