Description: The article describes changes to the computation of discounted unpaid losses (claim reserves) as a result of the 2017 tax legislation.

Description: This paper discusses the martingale approach for pricing American-type options without an expiry date. These options include the perpetual American put option and the perpetual maximum option in one stock case. The word “perpetual” means that the option has no expiry date. A main tool in this approach is the principle of smooth pasting.

Description: This paper develops a new technique, which allows the analyst to maximally use all thte historical interest rate information available in forecasting interest rates. Interest rates' daily change do not follow a stationary random process over long time periods. Instead, the process is comprised of stationary periods, each a few years long, with relatively short transitional periods between different stationary periods.

Description: Investment Fallacies: The Fable of the Storyteller and the Market

Description: Actuaries should understand the economic considerations involved in the formulary drug decision-making process, and the presence of actuarial input in the process could improve it, especially by tying it to overall decision making for the health plan. From Prescription Drugs Monograph, M-HB04-1.

Description: New for 2017, we are introducing a series of articles by experienced industry professionals who are relatively new to long-term care (LTC).

Description: Some are arguing to require actuaries to fund public plans like an insurance company. It is not the place of the actuary to make this call.

Description: Read the June 2017 issue of Predictive Analytics and Futurism published by the Predictive Analytics and Futurism Section.

Description: A discussion of the growing popularity of annuities with guaranteed minimum income benefits GMIB during times of bear markets and some related discussion of product features, minimum statutory reserves and capital requirements for the product

Description: A discussion of the development, key elements, applications, and implementation process of the 2001 CSO Tables for individual life insurance policies for computing minimum reserves, nonforfeiture benefits and tax reserves.