Description: The Chairperson of the section talks about how members can participate and make a difference in the section.

Description: In this article, the author discusses the need to create a systemic risk regulator.

Description: In this article, the author discusses the capital shortfall an insurer faces because of the longevity risk on immediate annuities.

Description: Information about Incentive Compensation Determination.

Description: This article discusses the idea of using management instead of incentive comp to motivate employees.

Description: This article reviews the sixth survey of Emerging Risks, sponsored by the Joint Risk Management Section and completed in fall 2012.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: A critical step in valuing a company for the purpose of financial reporting is the computation of the market value of economic surplus (MVES). This article provides a novel approach to the valuation of MVES that is stable and reasonably immune to “market noise.” Current approaches to the calculation of economic surplus of an insurance company generally define such surplus as the market value of the assets (MVA) supporting the liabilities less the market value of liabilities (MVL). While MVA is observable in the market, MVL is typically computed directly, without regard to the underlying supporting assets. Subtracting MVL from any value of assets that changes with market movements results in an unstable surplus. Consequently, a surplus that is not fully reflective of market sentiment has been rejected by many. This same approach is further used in the calculation of market consistent embedded value (MCEV) when a balance sheet approach is used .

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: The Observatoire actuariel de la crise du coronavirus (Actuarial Observatory of the Coronavirus Crisis) is a unique initiative of the Institut des actuaires (Institute of Actuaries) consisting of the establishment of a process of qualitative sociological surveying during the confinement and the two weeks following it. Implemented by a PhD sociologist, the Actuarial Observatory of the Coronavirus Crisis aimed to collect, in real time, the perceptions and analyses of actuaries, women and men of all generations and from all professional backgrounds, of this unprecedented crisis. Its first report reproduces the observations made with respect to operational matters: • How did the companies continue to operate? • What are the consequences for the sectors? • How will they manage the induced risks? • What are the expectations for the future?