Description: On Dec. 29, 1973 President Nixon signed into law the Health Maintenance Organization Act of 1973, which authorizes $375 million to be used by the DHEW to stimulate the establishment and development of HMO's over the next five years. This article describes the status of the regulations and the development of additional HMO's.

Description: This article discusses new developments on the regulatory front. Under the new agreement, insurance company management and boards will be required to issue a statement that reflects their judgment about the firm’s viability, including its capital adequacy. The required opinion will have five elements - identifying risks, measuring risks, a risk feedback loop, a risk tolerance statement, and a risk policy.

Description: This article from SOA president David Holland, speaks to the need of the actuarial profession to consistently evolve with the needs of the 21st century.

Description: This article discusses three litigation issues: 1. Shelter Framing Corp. v. PBGC: This is a case recently placed on the Appellate Docket of the U.S. Supreme Court being appealed from the Ninth Circuit Court of Appeals. That Circuit Court held that the Multiemployer Pension Plan amendments Act, which imposes liability on employers who withdrew from multiemployer plans, is unconstitutional as applied to employers who withdraw before the Act’s enactment but after its retroactively effective date. 2. Federal Trade Commission: The U.S. District Court for the Eastern District of Pennsylvania has held that an investigation by the FTC into whether finance companies and auto dealerships were engaging in unfair and deceptive practices by representing that purchase of credit life insurance was required as a condition to obtain financing, was not outside the FTC’s power. 3. Baldwin-United Case: Under the rehabilitation plan for Baldwin-United, the Company would refund $3.7 billion to the annuity holders. Several groups are challenging this decision.

Description: An editorial on the insurance crisis with regards to liability insurance, and the breakdown of the liability system.

Description: The Actuary Vol. 22, No. 11. This is a debate regarding two approaches to Life Insurance Illustrations: The Range approach vs. the Current Scale approach

Description: Part 3 of Gray's summary of the Canadian report on taxation by the Carter Commission. One of the provisions would impose a 50% insurance company tax rate on the excess of surplus earnings over policy dividends disbursed.

Description: Part 3 of a 3 installment series dealing with the Moss Oversight Committee dealing with sales disclosure for life insurance products

Description: Discussion as to whether within an organization an actuary's regulatory role can conflict with his business-oriented role or be aligned with the strategic goals of the company.

Description: In this 1977 editorial, the author, an associate editor of The Actuary, discusses the significant changes in federal insurance law in Canada, under which prescribed assumptions will be replaced by the assumptions deemed appropriate by the valuation actuary.