Description: 1994 SOA Spring Meeting, Orlando. In this session the speaker provided an overview of derivatives including: 1. Definition. 2. Uses. 3. Types of risks - market, credit, legal, and systems. 4. Risk management. 5. US regulatory guidelines and developments.

Description: Presented at October 1996 Annual Meeting. The SOA has co-sponsored a research project on the use of derivatives by the insurance industry, using annual statement data reported by insurance companies. This session presents the results of the study, and implications with respect to sufficiency of RBC are discussed.

Description: The session from the 1995 SOA New York City Meeting discusses derivatives, policy, controls, compliance, reporting and demonstrates how to implement systems that track performance and ensure that the correct type and amount of derivatives are in place. From the Record of the Society of Actuaries, Vol. 21, No. 2.

Description: This paper examines the pricing of catastrophe risk bonds. Catastrophe risk cannot be hedged by traditional securities. Therefore the pricing of catastrophe risk bonds requires an incomplete markets setting and this creates special difficulties in the pricing methodology. The paper briefly discusses the theory of equilibrium pricing and its relationship to the standard arbitrage-free valuation framework. Equilibrium pricing theory is used to develop a pricing method based on a model of the term structure of interest rates and a probability structure for the catastrophe risk. This pricing methodology can be used to assess the default spread on catastrophe risk bonds relative to traditional defaultable securities.

Description: This session at the SOA 1990 Hartford Spring Meeting presents an overview of foreign currency swaps, participants and growth in the market. Case studies are discussed.

Description: This paper explains the development of the credit derivative market, describes the most common types of credit derivatives, discusses how insurers can and do use these instruments and explains the role they played in the financial market turmoil of 2008.

Description: Panelists at this session of the SOA 1998 Maui I Spring Meeting discuss the challenge of how to regulate and account for the growing number of derivative products in the context of their multiple applications.

Description: This session from the 2003 SOA Orlando Meeting covers credit derivatives and how they have evolved, credit-default swaps CDSs, the advantages and disadvantages of credit derivatives and the regulatory overview. From the Society of Actuaries Record, Volume 29, No. 3.

Description: This session from the 1984 SOA Atlanta Meeting is a teaching session of options and futures and discusses the basics of options and futures, hedging risks, the difference between hedging and arbitrage, taxation and representing policy features in terms of options.

Description: The goal of this paper is to dispel the prevailing belief that American-style options cannot be valued efficiently in a simulation model by presenting a general algorithm for such valuation, and thus remove what has been considered a major impediment to the use of simulation models for valuing financial instruments. Discussions of this paper are included.