Description: There are many ways to perform Risk Management. For an ERM system to be effective its objectives need to match up with what management wants. But most ERM systems do not have an explicit objective. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: From the 1960 Transactions Vol. 12 No. 32, this paper provides a comprehensive introduction to nonproportional reinsurance and its application in life and health insurance, and employee benefit plans. The author defines the various types of reinsurance and notes that to date nonproportional reinsurance has not been widely used in the U.S. for life insurance, and explores areas for possible application. Theoretical aspects such as formulas for premium determination are also discussed.

Description: This paper is from the Transactions of Society of Actuaries 1956 Volume 8, Number 20. It was presented at the 1956 Spring Meetings of the Society of Actuaries for discussion. The author presents an outline of how difficulties in the determination of a frequency distribution of the expected costs may be overcome by, in part, applying the concept of using a series of random numbers with a view of making mortality studies for each life in a group of annuitants. The paper also presents the results of some experiments which were designed to discover whether or not the concept could be conducted on an IBM 650 electronic data processing machine.

Description: This article is part of the Digest of Informal Discussion, which took place at the 1956 Society of Actuaries Eastern Spring Meeting, held April 19-20 in Hartford, CT. It identifies the participants and summarizes each person’s comments. The participants discuss various underwriting topics, including larger amounts of insurance and higher limits on premium waiver and accidental death benefits, larger non-medical limits, impairments, substandard underwriting classes, and aviation risks. From Transactions of Society of Actuaries 1956 Volume 8, Number 21.

Description: Statistics about entertainment industry pension plans.

Description: In this paper, we introduce a family of leptokurtic symmetric distributions represented by the difference of two gamma variates. Properties of this family are discussed. The Laplace, sums of Laplace and normal distributions all arise as special cases of this family. We propose a two-step method for fitting data to this family. We develop a statistical test for goodness-of-fit and introduce a test of normality of the data. A simulation study is provided to illustrate the theory.

Description: This paper presents a statistical methodology based upon information theory, for adjusting mortality tables to obtain exactly some known individual characteristics, while obtaining a table that is as close as possible to a standard one. Followed by a discussion paper submitted

Description: The article describes the sessions at the upcoming annual meeting.

Description: Surplus and the ACA

Description: Affordable Care Act and Payment Reform