Description: This paper addresses the classification of products according to their accounting standards: SFAS 60 for traditional products, SFAS 97 for interest sensitive products, and SOP 95-1 for participating products. In particular, the question of which products should be classified under the Statement of Position will be addressed. In addition, it will be shown that if a product's dividend formula passes on to the policyholder significantly less than a full asset share an over-reserving problem will occur if the Statement of Position is used as the accounting system.

Description: Analyzes the need for enterprise risk management for small businesses and the unique principles governing such a discipline. The paper describes a case study done by Goldenson Actuarial Research Center at the University of Connecticut and concludes with some suggestions on how ERM for small businesses can be done on a larger and sustainable scale using student resources supported by large corporations, banks and government organizations.

Description: Outlines the contents of the current issue of the AOF Newsletter which has a few features on actuaries in non traditional roles.

Description: This paper is a sequel to Shapiro et. al. in that it discusses a similar role for CAI in topics specific to the text Actuarial Mathematics, by Bowers et. al 1986. The topics covered are the previous topics of actuarial notation, basic concepts, and what-if analysis, along with some new ideas for the presentation of stochastic models.