Description: Policyholder Behavior in the Tail Risk Management Section Working Group UL with Secondary Guarantee 2011 Survey Results

Description: This web site solicits participation in the 2011 Emerging Risks survey. The purpose of the survey is to help develop a better understanding of how risk managers deal with emerging risks and ultimately to give guidance to risk managers on how to deal with these unknown and developing risks. Links are provided to the survey form, the results of prior surveys and articles on the subject.

Description: This web page contains a link to a research report that highlights the characteristics of combination plans that serve to reduce the risks to insurers issuing life or annuity products linked to long-term care insurance. Observations are provided to assist in the understanding of the factors that explain the profit change sensitivity results and the natural hedging against major risks that inherently is present within the linked products.

Description: With the credit interest rate floor of a cash balance plan—a simple type of option identified by the Project Oversight Group—as a model, this research uses three valuation and risk analysis approaches to explore the existing techniques to value embedded options on an economic basis.

Description: This is the English version of the research report, “Funding Public Health Insurance Plans Canada and Globally”. This report briefly looks at the actual health care funding models and metrics in seven countries (Canada, Sweden, France, Germany, Switzerland, the United Kingdom, and the United States) along with health care metrics for another 13 countries (20 OECD countries in total). This report also suggests a number of possible areas where actuaries could provide expertise to assist in the management of public health care plans.

Description: This paper is intended to help plan sponsor fiduciaries understand existing options and carry out their due diligence when studying retirement income solutions for DC retirement plans. It educates human resources and financial professionals at plan sponsors about the potential issues, solutions, and processes involved with implementing, administering, and communicating a retirement income program for their plan participants.

Description: The Society of Actuaries Health Section is pleased to make available a research report examining the use of the PRIDIT method for determining hospital quality. The report was authored by Robert Lieberthal and Dominique Comer of the Jefferson School of Population Health.

Description: This research report analyzes the risk associated with the use of models through the potential for model error.

Description: The Committee on Finance Research is pleased to make available a research report that models cash flow risks and empirically analyzes cash flow risk management of insurance firms under a dynamic factor modeling framework. The report was authored by Patricia Born, Hong-Jen Lin, and Min-Ming Wen.

Description: This research paper is intended to be a primer on extreme event modeling and mitigation for practitioners. It covers the complete cycle of extreme event risk management, from identifying experience data sources, to extreme event detection, to modeling and dependence analysis, and finally to monitoring and mitigation. This paper explores extreme events from the perspective of a global insurance company, with an emphasis on market risk, credit risk, insurance risk, liquidity risk, and business risk. Extreme risk concepts and models are introduced from a practitioner’s perspective without unnecessary theoretical details. This report is not intended to be all-encompassing, but rather to focus on the key aspects of extreme risk analysis and its application. The input data and R programs underlying the numerical examples herein are available in the supporting files accompanying this report