Description: Presentation from the 2006 41st Actuarial Research Conference focusing on the declining usage of expert opinions in the actuarial profession.

Description: Article discussing the risk focused exam approach incorporated in the Financial Condition Examiners Handbook.

Description: Approaches to filing, approving and implementing LTC rate increases impact policyholder behavior regarding retaining/modifying their coverage.

Description: The article describes a dynamic investment strategy for defined benefit pension funds to de-risk the plan by changing the asset mix based on the funded ratio.

Description: A discussion of risk-relevant resources available at the Society of Actuaries Risk Management Task Force Web site

Description: Asset Adequacy Analysis for the Long-Term Care Product: A Case Study by Amy Pahl from Long-Term Care Newsletter, December 2004, Issue No. 13.

Description: Restoration of Benefits ROB: the provision of a long-term care policy that allows policyholders to restore their maximum benefit period after they have used some or nearly all of their policy benefits to pay for a covered claim event. This is a provision that should be managed closely.

Description: Abstract: Interest rate changes and volatile equity returns have contributed to significant funding and expense volatility for defined benefit plans in recent years. This paper will describe the design of an option contract with payouts that are tied to the combined impact of interest rates and investment returns on the funding level of a defined benefit pension plan. Current derivatives used by plan sponsors can limit exposure to one of these risks; however, a derivative that combines these risks may provide more targeted protection to a plan sponsor at lower cost. This paper discusses several considerations in designing such a derivative. It will also briefly discuss pricing of the option. Finally, the difference in potential outcomes between plan funding with and without option ownership will be demonstrated. As an outcome of the design work, a new way to visualize pension risk that may be useful in sponsor accounting disclosures will be shown.

Description: A high level review of recent developments in the area of professional standards of practice on Modeling, with exploration of a few of the contentious issues.

Description: The intent of this paper is to examine the sources of risk in defined benefit pension plans to determine the extent to which the principles of financial economics can be applied to provide new methods for measuring the cost and value of such plans. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.