Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.

Description: This article provides an overview of the financial results of managed care plans over time using a collection of the NAIC financial statements.

Description: This article deals with enterprise risk management and how the techniques contained within the discipline can help prevent unforeseen large mistakes in strategy, product design, and product management

Description: This article will highlight the issue that the sum of key-rate metrics does not add to metrics derived by parallel shift to the entire curve, even at very low shift size. Additionally, in the article I will outline how to define a single rate change to be applied to a key rate (or the entire curve) since the rate changes are generally not level or parallel.

Description: This article provides a summary of the research paper and Excel-based tool that can be found on the SOA’s website at Regulatory Capital Adequacy for Life Insurance Companies: A Comparison of Four Jurisdictions | SOA.

Description: A discussion on the validity of real returns.

Description: Editorial for the October/November 2012 edition of The Actuary magazine discussing risk and uncertainty as two different concerns.

Description: The article has formulas for calculating the geometric return of a portfolio using the arithmetic return and the variance

Description: This article highlights features of the SOA's Regulatory Web Resource. The intent is to encourage greater use of the Resource among section members.

Description: An exploration of risk management challenges in the Middle East, including historical overcapitalization, inadequate data and governance issues.