Description: This article discusses The Compact is an agreement between member states to develop and use a single set of uniform standards as the guidelines to be followed for forms to be approved, including any actuarial-type requirements.

Description: This article covers the results of the elections for the 2013 product development section council. In particular, it gives the background on the following individuals who were newly elected to a 3-year term on the council: Vera Ljucovic, Jim Filmore, and Joe Kordovi. It also gives the background on Dave Moran who was chosen by the council for a 1-year term to replace a council member that had to step down prior to completing their 3-year term.

Description: Over the years I have come to believe that the nature vs nurture debate is fundamentally flawed, in that it tends to exclude an increasingly important third influence: culture.

Description: In 2014, the SOA Product Development and Reinsurance Sections, along with the Committee for Life Insurance research engaged Reinsurance Group of America to undertake a research project on term conversion experience.

Description: The decrease in interest rates over the last several years has led to decreases in the maximum valuation rate and maximum nonforfeiture interest rate, and companies need to prepare for these changes.

Description: podcast update of the reinsurance section

Description: Proposes setting premiums such that inflation and age could change the premium over time, rather than prefunding. The value may be to change the approach to pricing LTC and improve the risk.

Description: In this session, attendees will learn about the state of the developing reinsurance market for Pension Risk Transfer/Group Annuities in the United States. Discover fundamentals of the primary (group annuity) market and evaluate market forces influencing the lack of significant reinsurance volume of the same nature. This will include a compare and contrast to the PRT and PRT reinsurance markets in other regions that have seen material secondary market volume (such as the UK).

Description: The cyber insurance market looks like it’s growing—rapidly, in fact. However, there’s more to the cyber insurance market than the outward appearance of strong growth. Worldwide aggregate premium’s upward trend may even be cause for alarm. The increase in premium against a flat rate of insured exposure is a key sign that the market could turn from growth to constriction if a solution isn’t found in the near future. If the cyber insurance sector hopes to reach such lofty goals as exceeding $30 billion in global premium by 2028, it’s going to need more capital. Whether directly into the insurance sector or via support from reinsurance and retrocession, fresh capital should help insurers achieve greater market penetration, build a broader foundation for ongoing expansion, and chart a course for long-term sustainable profitable growth. The same sources capital insurers have used since the early days of the market won’t be enough, though. Thankfully, the insurance linked securities (ILS) market seems poised to help, particularly with several promising recent transactions. New sources of capital could bolster the foundation for future cyber re/insurance growth.

Description: Experts from both the direct and reinsurance side of the table will provide an overview of final expense products and their key features, as well as share experiences that have informed best practices when designing, selling, managing, monitoring and reinsuring these products. Trends in distribution, underwriting tools and other competitive factors will be considered through the lens of managing risk while remaining competitive in the market.