Description: This is one of eight essays from the collection: 2020 Living to 100 Essays.

Description: Arguably, many of the fundamental contributing factors to the 2008 mortgage crisis involved misdirected incentives and misinformation available to key participants in the housing finance process. The incentives discussed here include those of the mortgage holders, mortgage intermediaries, mortgage providers, securitizers, raters and CEOs and other highly paid staff of those involved. Unless similar incentives are recognized, future public policy decisions will again fail to avoid this system-wide risk. Since I am most familiar with the U.S. situation, my comments will be limited accordingly.

Description: “E-Cigarettes: A Hazard or a Help?” by Sam Gutterman was published online in the North American Actuarial Journal on December 18, 2019, and in print in Volume 24, 2020–Issue 4. This essay is the author’s update to the original paper; it has not been peer-reviewed

Description: “E-Cigarettes: A Hazard or a Help?” by Sam Gutterman was published online in the North American Actuarial Journal on December 18, 2019, and in print in Volume 24, 2020–Issue 4. This essay is the author’s update to the original paper; it has not been peer-reviewed. The essay is solely an expression of the views, opinions, and ideas of the essay author for applying the original research to actuarial work.

Description: The ORSA should be more than a compliance requirement -- its process should be an integral element of a company's governance and risk and strategic planning process used by both management and the board on a regular feedback loop basis. Similar to that used for ERM, it along with a carefully constructed set of metrics should serve as the springboard to be used to identify, control and mitigate short- and long-term risks, as well as to enable exploitation of opportunities to add shareholder and policyholder value. Risk can represent an opportunity from which insurers can leverage their knowledge and risk management capabilities to find and maintain a competitive edge. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: The paper explores developments through 2006 in the application of market-consistent concepts to the measurement of fair values of liabilities for financial reporting purposes.