Description: This is the presidential address by former President of the Society of Actuaries, Richard C. Guest. He discussed insurance supervision globally, with an emphasis on Canada and the United States.

Description: The October/November 2015 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

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

Description: The April/May 2016 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: This essay explores the role that the emerging defined contribution retirement system may be playing in the growth of wealth inequality in the United States. The current system leaves many Americans with little or no retirement savings. Those with higher accumulation levels appear to invest proportionally more in equities, which may have an exponential effect of balances over long time periods. The author hypothesizes that willingness to take investment risk involves the relationship between the amount an investor has accumulated and what she/he needs in order to cover basic costs of living. This is one reason that investors with greater accumulation levels may be able to earn higher rates of return. The essay concludes by suggesting that the U.S. defined contribution system should include all workers and provide additional fiduciary guidance. Examples reforms, both in the U.S. and other countries, are provided.

Description: A look at the career and accomplishments of Julia Philips, the only health actuary employed at the Minnesota Department of Commerce. She believes her learn-by-doing attitude has allowed her to build a career she enjoys, which includes her to work to promote consumer protection, volunteer with many organizations, and implement health reform.

Description: Report on the activities of the Academy’s health practice council and its work groups.

Description: This paper provides an outline of three potential initiatives that may be undertaken by the government and the private sector. The first initiative aims at reducing the cost of health care at the provider level. The second initiative provides a means to improve the quality of health care. The third initiative creates a constructive basis for identifying medical best practices to enhance quality.

Description: The article summarizes the provisions of H.R. 1 that impact the tax qualification of life insurance contracts and the tax reporting of life settlements

Description: The February/March 2016 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.