Description: Article provides a brief summary of the highlights from a survey completed in fall 2018 covering Emerging Risks. This is the 12th iteration of the survey and provides trends and qualitative comments from respondents on a variety of ER and ERM topics. Climate change and cyber risks continue to lead the responses.

Description: Article provides a brief summary of the highlights from a survey completed in fall 2018 covering Emerging Risks. This is the 12th iteration of the survey and provides trends and qualitative comments from respondents on a variety of ER and ERM topics. Climate change and cyber risks continue to lead the responses.

Description: Read the February 2020 issue of Risk Management, published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: A new project combining survey data from people across the country with data from John's Hopkins and the CDC on COVID cases and deaths. This project provides weekly data for individuals, businesses, and policy makers to understand which COVID mitigation efforts are in place in their area, how they are working, and how different COVID mitigation methods have been working in different parts of the country.

Description: This article Provides a description of an IRS Directive that provides a safe harbor tax reporting position for computing tax reserves for pre-2018 tax years for annuity contracts subject to AG43 and VM-21 and life insurance contracts subject to VM-20 Principal Based Reserves methods. The safe harbor is required to be implemented on the 2017 tax return, with certain spread amounts in some cases to future tax years starting in 2018.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings, including implementation trends, analysis to date, model robustness and common simplifications.

Description: This article explores the evolving role of assumption management in the life insurance industry. The article highlights how behavioral, economic, and demographic assumptions are critical to pricing, forecasting, and explaining financial results, yet many insurers still struggle with fragmented practices and outdated processes. Drawing on survey insights from 15 U.S. insurers, the authors illustrate persistent challenges in governance, data integration, and automation. They argue for a more holistic, technology-enabled operating model centered on centralized assumption repositories. Such repositories provide a single source of truth, enable automated ingestion into models, support sensitivity testing, and enhance governance and transparency across actuarial, finance, and risk functions. The article offers guiding principles and design considerations for building scalable repositories that improve efficiency, consistency, and decision-making. Ultimately, it positions assumption management modernization not as a technical upgrade but as a strategic imperative to unlock clarity, agility, and competitive advantage in a complex market.

Description: Critical Illness (CI) insurance in Asia has evolved through data-driven insights, adapting to changing medical, demographic, and lifestyle trends. Gen Re’s CI Data Insights Study, covering Mainland China, Hong Kong, Singapore, Malaysia, and Thailand, highlights how advances in screening, especially for cancers, have influenced incidence rates and claims. Regular updates to CI definitions and product structures are essential for sustainability, as seen in the handling of thyroid and prostate cancers. Lifestyle factors like BMI also impact cardiovascular risk. A multi-dimensional approach combining robust data monitoring, proactive product updates, and wellness promotion ensures CI insurance remains relevant and sustainable.

Description: This survey of emerging risks attempts to track the risk manager population‘s thoughts about emerging risks across time. The top 4 emerging risks from this third iteration of the survey are: 1. US current account deficit/fall in US dollar. 2. Blow up in asset prices/excessive indebtedness. 3. Oil price shock/energy supply interruptions. 4. Chinese economic hard landing.

Description: On February 15, 2022, the Association Forum Health Care Collaborative, a collection of metropolitan Chicago based Healthcare associations, held its winter event. This virtual gathering featured two sessions titled: “Healthcare Policy Perspective” and “Megatrends and Tipping Points that will Define Success in the "New Normal".