Description: This paper considers the question of whether the growth in the size of financial statements witnessed over the last several years has yielded an increase in the quality of disclosure around issues of financial risk and to what extent this disclosure is satisfying the perceived needs of readers of the financial statements, as represented by the investment analyst community.

Description: This paper expands upon current capital analysis by introducing a practical approach that considers the objectives of all stakeholders of an insurance company in setting appropriate capital targets. In addition, the paper introduces a technique for estimating capital adequacy that is based on mapping stochastic distributions of regulatory and rating agency capital measures to observable financial rating transition matrices.

Description: These are the exhibits and appendices accompanying the paper Estimated Impact of Medicare Part D on Retiree Prescription Drug Costs.

Description: This paper examines how incentives created by management structures and performance measurement systems affect a corporation’s risk management decisions.

Description: This report provides estimated savings for several of the options that are available to plan sponsors after implementation of the Medicare prescription drug program.