Description: Metadata for entire issue

Description: Read the December 2018 issue of Small Talk published by Smaller Insurance Company Section. Practical information on trends that impact sections and activities.

Description: A dicussion of the Rate Classification Actuarial Standard of Practice, ASOP #12: its purpose, its scope, guidance, and examples.

Description: This paper shows an approach whereby future asset returns and liabilities are modeled taking into account the probability of various returns. It develops an asset-smoothing approach that uses an expected return on the asset mix and averages both historical and projected asset values. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: Article provides a market scan of recent state proposals for Medicaid work requirements as well as measures the impact to enrollment in different states.

Description: The University of Connecticut has developed a new enterprise risk management service for small local businesses.

Description: The authors take a deeper look at the long-standing motto of the Society of Actuaries, from John Ruskin, “The work of science is to substitute facts for appearances and demonstrations for impressions.”

Description: The behavior of extreme paths in the usual stochastic interest rate models is not nearly so plausible as the behavior of their expected values and variances. This paper proposes a new class of models that deliver more plausible extreme paths while preserving the usual expected value and variance behavior. Along the way we derive the closed form solution for the traditional mean-reverting lognormal process, including the drift compensation.

Description: Presented at August 2011 Actuarial Research Conference. Summarizes the Heston model, discusses hedging equity indexed annuities, and provides numerical results of the Black-Scholes and Heston hedging strategies.

Description: Presented at August 2011 46th Actuarial Research Conference. This paper focuses on mainly focus on the case in which the risk variable follows a distribution function from a max-domain of attraction.