Description: This paper introduces a rich stochastic modeling framework for understanding risks in multiple-decrement contracts. The example in the paper is a 20-year Term insurance contract. Not only are mortality and lapsation considered stochastic, but the parameters governing them are. For example, mortality risk is composed of four risk elements, including error generated in the underwriting process, volatility around the best estimate, catastrophic events that impact mortality, and the trend in mortality improvement or deterioration. When stochastically modeled, the relative contribution and risk profile of each risk element can be evaluated. Generating stochastic mortality results provides a distribution of results that an organization faces and the severity and incidence of the tail events.

Description: This is intended to serve as a fundamental resource for a basic understanding of ERM, as well as a guide to further study of the subject. Members of the Casualty Actuarial Society have participated in the effort, as well.

Description: This is intended to serve as a fundamental resource for a basic understanding of ERM, as well as a guide to further study of the subject. Members of the Casualty Actuarial Society have participated in the effort, as well.

Description: Read the December 2018 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: This paper suggests a number of legislative changes, educational efforts, and changes in annuity products and asset allocation software that could assist workers and retirees to better prepare for and respond to declining mortality rates and future increases in income needs. From Retirement Needs Framework, M-RS00-1.

Description: Presented at June 1996 Spring Meeting. A panel of experts discuss risk management and capital management issues for disability insurers and the potential role of reinsurance.

Description: An overview of the articles in the August 2012 issue of Risk Management and a list of winners of the most recent call for papers, “Risk Metrics for Decision Making and ORSA.”

Description: From a session at the Spring regional meeting of the Society of Actuaries held in Atlanta, Georgia, May 24-25, 1999 Panel examines differences in risk assessment and underwriting that may be involved with doing business in a foreign country.

Description: Presented at October 1996 Annual Meeting. This session provides varying perspectives on corporate approaches to the macro management of risk. In this paper, areas such as risk identification, asset/liability management structure, and secular trend analysis will be discussed.

Description: Panel discussion focused on the Effective Use of Capital. Topics included: 1. Definition of capital 2. Appropriate level of capital and surplus in a life insurance company 3. Alternatives for deploying capital 4. Returns a life company should demand on invested capital 5. How much a company should charge for lending its capital in reinsurance transactions