Description: This presentation is a Teaching Session, number 3, from the 1987 Valuation Actuary Symposium. The first instructor discusses three methods of valuation [and methods of studying C-3 risk]: Gross Premium Valuation [the actuary’s traditional approach], Cash Flow Analysis, and Market Value Analysis, also known as ‘Modern Financial Analysis,’ with a focus on the third. Then the second instructor provides an update on C-2 risk [claims, expenses], and combinations of risk, noting that C-2 risk has not had much attention paid to it. He goes on to describe three types of C-2 risk: stochastic deviations, unpredictable single events, and ‘judgment errors, such as poor underwriting. The third instructor focuses on the C-1 [default] risk. Case studies are included.

Description: 1993 SOA Meeting, Quebec. The new SVL has expanded the scope and responsibilities of the valuation actuary. Topics covered: • Risk of legal liability for actuaries? • Vagueness of actuarial standards related to adequacy testing? • Reliance on other company experts? • Consultants versus company actuary perspectives? • The science versus the art of the process?

Description: This session from the 1984 SOA Salt Lake City Meeting examines financial reporting for new generation life and annuity products, such as universal life, single premium deferred annuities SPDA's, and flexible premium annuities. Topics include statutory and GAAP reporting, NAIC proposed regulation for UL, management reporting and accounting treatment of rollovers and replacements.

Description: Panelists discuss many developments over the year 1991 that impact the valuation actuary. Session 1 of the 1991 Valuation Actuary Symposium.