Description: This is a panel discussion session on the purpose, rationale and conclusions of the Committee for Accident and Health Valuation Principles. Discussion also covers the comments received and any modifications to their original draft report.

Description: Traditional methods of addressing reserves and liabilities have failed to cope with the problems of escalating claim costs, frequent rate increases, and different opinions as to what liabilities should be recognized. This paper reexamines these issues, discusses shortcomings of current methods and proposes a new approach to the total subject. From Transactions of Society of Actuaries 1985, Vol. 37.