Description: This article provides an overview of the Own Risk and Solvency Assessment (ORSA) model act, and of enterprise risk management (ERM). Compared to other actuarial disciplines, health actuaries have not historically focused as much on ERM. But health coverages do have risks that can threaten an insurer's solvency, and ORSA (now in force in most states) will force health insurers to beef up their ERM capabilities.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

Description: A continuation of the discussion on modeling mortality in life insurance applicants first discussed in the January 2012 edition of the Small Talk newsletter.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: The author suggests aptitude testing is time well spent if you are trying to choose between possible paths, or would like to be able to find the path that best fits you.

Description: Chairperson’s column discussing the Marketing and Distribution Section initiatives.

Description: An analysis of health insurance cost and benefit trends using January 1, 2011 data from state employee medical plan renewals.

Description: Projecting Policy Persistency by Bruce Stahl from Long-Term Care Newsletter, September 2004, Issue No. 12.