Description: Article describes how to write effective model documentation

Description: The August/September 2013 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: Chairperson Address to the Predictive Analytics and Futurism Section

Description: The article summarizes two of the highest rated sessions sponsored by the Reinsurance Section during the 2013 SOA Annual Meeting in San Diego.

Description: Provides an overview of developments in the healthcare market including provider billing practices. Provides an overview of the Government Finance Officer’s Association (GFOA) in New York on Dec. 6, 2018

Description: A compilation of reader responses is presented to a real life situation posed involving a management, leadership, or other business decision. This issue’s case study involved whether an actuary who accepted one job offer, but hadn't yet started at the new job, could ethically consider another offer.

Description: This article describes how the International Association of Black Actuaries is tackling diversity and inclusion in the actuarial profession.

Description: Welcome to the May edition of The Financial Reporter! In her “Chairperson's Corner”, Joy Zhang highlights the section's upcoming activities for the year and ways for everyone to get engaged.