Description: The National Association of Insurance Commissioners (NAIC) is moving forward to implement a new regulatory requirement that requires U.S. insurers to perform an Own Risk and Solvency Assessment (ORSA). Before developing a response to the ORSA requirement, insurers will want to understand its genesis and the underlying rationale for it, as well as its implications. This essay provides an overview of the evolution and rationale for ORSA, as well as practical implications for insurers as they begin to design an ORSA process. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: This article is about change, how it affects us, how we react to change, and how leaders need to be change agents.

Description: This meeting session, which occurred at the April 1982 Society of Actuaries meeting in Orlando, presented a look ahead as of 1982 at opportunities for actuaries in the 1980's and 1990's. Questions addressed by the panel included: i. Will traditional opportunities be reduced? 2. What non-traditional opportunities are available? 3. What changes are needed in our educational process? 4. How do we make non-traditional employers aware of actuarial skills and their value? 5. What will actuarial work be like? 6. Some perspectives on the situation in Canada as it moves toward more government ownership and control of financial security programs

Description: Research report sponsored by SOA to model and compare projected costs of different proposals for a Medicare prescription drug coverage plan. 3 types of costs are studied: net benefit cost estimates per member per month, continuance table data, and projected annual costs to the government over 10 years for two selected plan designs.

Description: Update on regulatory developments in the US and internationally

Description: Article from The Actuary magazine, March 1983, volume no. 17, issue no. 3, that discusses the response of the Education and Examination Committee to Professor Batten's challenge in the wisdom of current trends in the Society's educational program, stating that these syllabus changes should be considered evolutionary rather than revolutionary.

Description: Article from The Actuary, March 1983, volume no. 17, issue no. 3. As was clear from William W. Truckle's paper reviewed in our April 1982 issue, North American actuaries aren't the only ones puzzling over the curriculum questions aired elsewhere in this issue. We are grateful for Mr. Carroll's permission to print excerpts from his discussion of Mr. Truckle's paper, and parts of his reply to an enquiry that we sent him. In particular, the author is in favor of adding more about advanced statistical methods to the curriculum and explaining how this fits in with the actuarial subjects that have been traditionally taught.

Description: The embattled life insurance industry in Australia needs to come to terms with a new environment of heightened claims volumes, unprecedented losses, changing distribution models and even reduced benefits. Like the mythological phoenix that spectacularly regenerates from its ashes every century, Australia’s life insurance industry needs something special to rise from its ashes. Claims management innovation promises to give the necessary impetus for a market that is desperate for some good news, whilst laying the foundation for a claims revolution worldwide.

Description: Panel discussion exploring likely future scenarios, encompassing: Balance between state and federal regulation, effects of trends in tax regulation, and implications of all-federal or all-state regulation. From Record of the Society of Actuaries Vol. 12, No. 2.

Description: This presentation, session number 44PD at the 2004 Spring Meeting of the Society of Actuaries, held June 14-15 in San Antonio, TX, asks the questions: “Between leadership changes, market shifts and restructuring, what does it take to really succeed in today's environment? Will your company be in the same business tomorrow? Are you positioned for success regardless of inevitable changes, or are you barely surviving today?” The panelists go on to explore the importance of a company having a “winning culture.” Includes comments from participants. From the Record of the Society of Actuaries, Volume 30, No. 2.