Description: At this session 7OF of the 2004 Valuation Actuary Symposium panelists discuss the conceptual and practical issues of modeling to reflect developing areas, including fair-value and embedded-value measurement, embedded guarantees and stochastically determined capital requirements.

Description: From a session at the 2002 Valuation Actuary Symposium, held in Lake Buena Vista, Florida, September 19–20, 2002 Session topics included model hierarchy, statistical deterministic and stochastic models, real-life situations, how to organize a model effectively, structuring the model to fit the project or report data, sources/integrity techniques documentation, and constraints and limitations on models.