Description: Shapiro 1990 documented some of the criteria used by actuaries when selecting the assumptions for actuarial valuations. He noted, however, that many of these criteria are often were in conflict with one another. This paper uses expected utility theory to model this process of choosing actuarial assumption when faced with potentially conflicting criteria. The three criteria considered are prudence, best estimate and conservativeness.

Description: Managing corporate defense is therefore an extremely responsible station, as it involves the responsibility for adequately defending the interests of all of the stakeholders of an organization, both in terms of monetary and human implications.

Description: American actuaries are increasingly involved in risk management. This paper presents an Overview of the role of the American actuary in risk management today, a book review of a remarkable new work by a philosopher of science, and a challenge to the reader.