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. A set of criteria is presented that should be useful in the evaluation of proposed fair value measurement approaches where inputs based on prices observed in an active market with reliable transaction prices are not available. Based on these criteria, one approach is examined that might serve as a basis for the fair value measurement of the liability of life insurance contracts and other financial instruments issued by insurers.

Description: This paper discusses the need for actuarial judgment to be used in conjunction with statistical analysis in the calculation of incurred but not reported IBNR claim reserves.

Description: Discusses management principles for the successful application of the underwriting processes of selecting and classifying risks and the actuarial pricing process of establishing adequate and equitable premiums for the risks to be underwritten within group medical business. Has some nice representative data for what a book of business might look like by case size.

Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: Review of a research project, co-sponsored by the SOA, which examined 83 organizations and over 150 programs that measure the quality and efficiency of hospitals and physicians.

Description: The article makes reference to how the intervention by government agencies and institutions into the financial marketplace are creating distortions. This artificial tampering into market mechanisms will likely result in major financial dislocations down the road as natural economic forces (coined by the term "invisible hand") eventually are allowed to come into play.

Description: Reviews basic desirable features in an economic scenario generator. Discusses basics of model structure and validation process

Description: Optimization of the liabilities to minimize the required capital, enhance the enterprise risk management and maximizing the shareholder value.

Description: Feature article that discusses the importance of developing a risk tolerance statement.