Description: The paper explores developments through 2006 in the application of market-consistent concepts to the measurement of fair values of liabilities for financial reporting purposes. A set of criteria is presented that should be useful in the evaluation of proposed fair value measurement approaches where inputs based on prices observed in an active market with reliable transaction prices are not available. Based on these criteria, one approach is examined that might serve as a basis for the fair value measurement of the liability of life insurance contracts and other financial instruments issued by insurers.

Description: Letter from the Chair of the Product Development Council. Challenging times bring opportunities. Today's low interest environment is a rallying cry for our industry to transform our products and the way we do business

Description: Hear from the editor’s on the August 2018 issue of Risk Management published by the JRMS.

Description: This article discusses the current state of the IAIS' initiative on their group Insurance Capital Standard.

Description: An abbreviated version of a larger chart produced by the International Actuarial Association.

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

Description: Fun look at life outside of the actuarial profession

Description: Combo long-term care insurance products provide a viable option for the insurance industry to offer a sufficient range and supply of private long-term care financing solutions.

Description: This actually is a copy of an appendix of a research paper sponsored by the SOA Committee on Finance Research. You can read the entire research paper: “Lapse Modeling for the Post-Level Period—a Practical Application of Predictive Modeling” at the SOA site https://www.soa.org/Research/Research-Projects/Finance-Investment/lapse-2015-modeling-post-level/#sthash.W9lERSls.dpbs, but you can read this valuable appendix copied here in this issue to see how to build a PM step-by-step using your data and the R programming language. We thank Richard Xu, Dihui Lai, Minyu Cao, Scott Rushing, and Tim Rozar for their excellent paper and the Society of Actuaries, for the permission to reprint this portion of the paper.