Description: A recap of the SOA Research Institute's participation in the NAIC Spring 2023 meeting

Description: A Chief Actuary’s responsibilities in managing an LTC block require a strong understanding of the past and the ability to use that and emerging trends and challenges to prognosticate the future. During this session a panel of Chief Actuaries will share their thoughts about the current and future states of the LTC industry and how they are tackling their top challenges, such as COVID, LDTI implementation, regulatory changes, and their work force.

Description: Can we learn anything about business success, or better yet about life, from the world of politics? One would presume not, given the seeming vast gulf between these realms. Yet perhaps this personal tale of a challenge I undertook decades ago might shed some light on how independent actuaries (and entrepreneurs in other corners of business) might adopt a refreshing perspective that advances, or even transforms, their current actuarial practice’s trajectory.

Description: Stakeholders in a specific state (Minnesota) were interviewed about the potential value -- and obstacles -- of a catastrophic backstop program to handle long term care (LTC) financing needs. The design would entail a payroll deduction which would produce a fund to pay LTC expenses once a deductible period (of 1 to 4 years, depending on income) was reached. This design was believed to encourage enrollees to cover the front end better than done today, whether by private insurance or other means.

Description: Guy Thomas develops the theory of “loss coverage,” which is a measure of the extent to which potentially insurable losses are actually compensated by insurance. His main points of difference are: a) Adverse selection in insurance is usually weaker that most commentaries suggest … b) From a public, policy perspective, ‘weak’ adverse selection in insurance is a good thing. … c)… some restrictions on risk classification are a good thing in some insurance markets