Description: Read the July 2016 issue of Product Matters!

Description: Life insurers offer Juvenile riders or low face amount whole life plans. The market is seeking multimillion dollar juvenile policies. What are the risks?

Description: This article describes services of a reinsurance intermediary and the use of reinsurance to meet financial objectives.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: Although crisis management remain often seen through a “communication lens”, it has in reality more in common with risk management than usually thought. Both crisis and risk management are anticipatory endeavors, with most of the work being carried out in peace time; both require a deep understanding of the organization’s activities and ecosystem; both have the same overarching objective to enable the organization to survive a brutal change to its usual operating conditions. Developing integration between the two functions would thus go a long way toward a more resilient organization.

Description: Rote utilitarianism is prone to subjective bias and other risks when used to support decisions on the evolving ethical gray zone.

Description: Read the August 2016 issue of Risk Management published by the Joint Risk Management Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article describes methodologies for detection and deterrence of Medicare fraud. It also describes the validation of PRIDIT for fraud detection in Medicare.

Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.