Description: Part One of a three part discussion of A Social Security System for the 21st Century, this part focuses the broader international, social, political, cultural and economic trends that will govern the viability and sustainability of a social security system in the 21st century.

Description: Describes the three types of HMOs and the progress they are making in lowering medical costs and gaining market share. Also discusses possible future developments with HMOs.

Description: This article provides some insights into the creativity employed in cash flow testing to help ensure the sound survival of small companies that have limited means.

Description: This article summarizes a recent revenue ruling concerning the insurance company qualification of an affiliate that reinsures retiree health benefits under an arrangement entered into by a VEBA.

Description: An edited written interview with two actuaries and a public health professional on issues related to the intersection between the two fields.

Description: This month’s global emerging risk is the fall in value of the U.S. dollar. The SOA’s 2010 Emerging Risks Survey found that 49 percent of corporate risk managers identify the fall in value of the U.S. dollar as the top emerging risk. This is a growing concern because of the brewing economic storms that could collide to have a big impact on the value of the U.S. dollar. From the Bubble Risk Bulletin – March 2011.

Description: There are two major categories of risks that are unique in international business- currency exchange rate risk and country risk. Currency exchange rate risk includes transaction exposure, translation exposure, and economic exposure. Country risk contains political risk and economic risk. There are a few different methods to hedge currency exchange rate risk and country risk also discussed in the article. Before you decide to invest in a certain country’s market, ensure you understand the currency exchange rate and political risks associated with the investment by performing due diligence on the country’s economic, political and cultural condition.

Description: The author notes that “insurance companies have been in the business of risk management for hundreds of years. The latest trend towards risk management in banks is both new to insurance companies and very old hat—new because it applies new techniques at least new to the last half century and old hat because many risk management techniques are so old hat to insurance companies that they are almost unconsciously performing them.”

Description: This essay examines several key factors that have contributed to China’s success in the economic reform spanning the past three decades and the double-edged nature of these factors going forward.

Description: Discussion of private letter tax rulings on the definition of Cash Surrender Value for purposes of interpreting the definition of life insurance for the policyholder's taxation of the contracts.