Description: This article offers a possible resolution to certain circularity issues that may arise while implementing the SOP.

Description: Chairperson’s Corner Mark J. Freedman from The Financial Reporter, December 2004, Issue No. 59.

Description: A discussion of the limitations of the use of spreadsheets versus formal programs in actuarial processes. including limited documentation, inability to incorporate new features without significant coding and subtle bugs that may appear.

Description: As my penultimate column, this is my opportunity to strike the existential pose and wax poetic about the fact that human nature has no history. Each generation born harbors the same hopes, dreams, and desires as the generation that preceded it. Following, in no particular order, are some observations related to this insight.

Description: SFAS 157, Fair Value Measurements, defines fair value, establishes a framework for measuring fair value and expands disclosures. This article briefly summarizes SFAS 157 and then turns to the computation of a fair value liability and the use of risk margins, with some expanded discussion of the cost of capital method for establishing the risk margin.

Description: Activity surrounding the principle-based approach to statutory reserves and minimum regulatory capital is gaining momentum. This article will allow those readers who are not as close to this initiative to quickly become familiar with the landscape of the movement and where it stands today.

Description: Update on the Standard Valuation Law amendments and the proposed Valuation Manual.

Description: Feature article discussing the use of fair value or market consistent measurement for the valuation of insurance liabilities.

Description: Feature article discussing actuarial assumptions in the investment world and financial models.

Description: Feature article discussing the current International Accounting Standards Board IASB Exposure Draft ED. A model of 10 year level term life insurance is use to demonstrate the amortization of residual margin. Residual margin is to be set at issue as the amount which offsets any gain at issue that would otherwise be recorded after accounting for fulfillment cash flowd and an explicit risk adjustment.