Description: Tax code tidbits

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

Description: The Financial Accounting Standards Board FASB and the International Accounting Standards Board IASB issued “The Norwalk Agreement” in October 2002, a memorandum of understanding that reaffirmed their commitment to develop a single set of high quality accounting standards. At that meeting the two standard setters agreed to place a high priority on three steps toward achieving that goal.

Description: This article celebrates the tremendous progress that has been made in automating reinsurance data. It also looks at remaining issues, such as a lack of standardization, and challenges presented for the future.

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: The second of three articles exploring the new technology offered by Santa Fe, New Mexico-based Assuratech, Inc. Describes the development of the applied complex adaptive systems technology behind Assuratech’s highly sophisticated program that uses simulation and data mining techniques for accurate, reliable versatile risk modeling.

Description: Feature article discussing the creation and effects of orphaned VEBAs, Voluntary Employee Benefit Associations.

Description: This article demonstrates that the alternative method of adjusting DAC amortization for actual experience fails to serve its purpose if amortization is based on amounts in force at the end of a reporting period. In that situation, the method would increase the amortization rate for excess terminations. Applying that increased rate to a lower basis, however, does not reliably reduce the unamortized DAC balance as required.

Description: Irish actuary and professor explains his hypothesis that actuaries, as practitioners, are reluctant to adopt the theories of financial economists unless the models on which the theories are based fit the actual data the actuaries have.