Description: This is the full version of Expanding Horizons newsletter, June 2001, Issue No. 24.

Description: Transcript of the Q&A period from Session 5A. The paper presented proposes a new method to price the longevity risk premia in order to tackle the pricing obstacle.

Description: Discussion of session 3B.

Description: This paper discusses the quality of healthcare verses the price of healthcare and puruses individuals and doctors making decisions for their own healthcare costs and services.

Description: Discussion of Living to 100 Session 5A. The papers presented propose a new method to price the longevity risk premia in order to tackle the pricing obstacle and reviewed the insurance industry implications on retirement planning and the secondary market in insurance.

Description: The complete Conversations newsletter for Spring 2001.

Description: A summary of Medicare reform and its effect on prescription drug coverage.

Description: This paper discusses the the continuing cost of health insurance coverage represents a major problem for most of us. However, the long-term continuation of the excess growth rate of the health care economy verses the rest of the economy has the potential makings of a major crisis.

Description: Recently researchers, practitioners, and regulators had intense debates about how to treat the data collection threshold in operational risk modeling. There are several approaches under consideration—the empirical approach, the “naive” approach, the shifted approach, and the truncated approach—for fitting the loss severity distribution. Since each approach is based on a different set of assumptions, different probability models emerge. Thus, model uncertainty arises. When possible we investigate such model uncertainty analytically, otherwise we use Monte Carlo simulations. For specific parametric examples we consider exponential and Lomax distributions which are special cases of the generalized Pareto family. Our primary goal is to quantify the effect of model uncertainty on risk measurements. This is accomplished by evaluating the probability of each approach producing conservative capital allocations based on the value-at-risk measure. These explorations are further illustrated using a real data set for legal losses in a business unit (Cruz, 2002).

Description: Essay suggesting to fix the tax code, reform healthcare regulations, open the industry to competition and reform malpractice litigation.