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1997

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Articles 61 - 82 of 82

Full-Text Articles in Business

The Right To Underwrite? An Actuarial Perspective With A Difference, Thomas A. Moultrie, Guy R. Thomas Jan 1997

The Right To Underwrite? An Actuarial Perspective With A Difference, Thomas A. Moultrie, Guy R. Thomas

Journal of Actuarial Practice (1993-2006)

For a long time underwriting has been a part of the actuarial canon. With increasing frequency, however, challenges are being issued against the right of insurance companies to underwrite applications for new bUSiness, arguing that certain aspects of the practice are undesirably discriminatory. We explore the role of the actuary in the underwriting process and the challenges that are being set for the profession (as opposed to the life insurance industry) as a result of this role. As the distinction between the interests of the actuarial profession and the interests of the life insurance companies has become increasingly blurred, we …

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Dynamic Immunization And Transaction Costs With Different Term Structure Models, Eliseo Navarro, Juan M. Nave Jan 1997

Dynamic Immunization And Transaction Costs With Different Term Structure Models, Eliseo Navarro, Juan M. Nave

Journal of Actuarial Practice (1993-2006)

A bond portfolio selection model is developed in a dynamic framework using different term structures, but without transactions costs. We show that the optimal portfolios are consistent with Khang's dynamic immunization theorem, i.e., the optimal path consists of making portfolio duration equal to the investor's horizon planning period. The model is then extended to include transaction costs. The resulting optimal portfolios are no longer consistent with Khang's dynamic immunization theorem. In fact, the strategy for constructing the optimal portfolio consists of initially choosing a portfolio with a duration that is smaller than the horizon planning period.

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A New Approach For Determining Claim Expense Reserves In Workers Compensation, Kay Rahardjo Jan 1997

A New Approach For Determining Claim Expense Reserves In Workers Compensation, Kay Rahardjo

Journal of Actuarial Practice (1993-2006)

This paper describes a new approach for determining a reserve for claim expenses. While the discussion focuses on workers compensation claims, the methodology is equally applicable to other lines of business. The approach also can be applied to the calculation of the reserve for all claims (including IBNR claims) and the reserve for claims reported to date (excluding IBNR claims). In addition, a methodology for pricing claims-handling services is discussed. The implications of pricing claims-handling services on a handle-to- conclusion basis versus pricing claims-handling services on a limited time handling basis are examined. Finally, the paper discusses a methodology for …

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Accelerated Death Benefits, Viatical Settlements, And Viatical Loans: Options For The Terminally Iii, Paula Schmidt Jan 1997

Accelerated Death Benefits, Viatical Settlements, And Viatical Loans: Options For The Terminally Iii, Paula Schmidt

Journal of Actuarial Practice (1993-2006)

There are three options available for terminally ill insureds who are interested in accessing all or part of the face value of their life insurance policies: through the life insurance company (accelerated death benefits), through a viatical company (a via tical settlement), or through a via tical loan company (a via tical loan). This paper explores the definitions and tax regulations, calculations, and the claims process associated with accelerated death benefits and via tical settlements and loans.

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Seeking The Profitability-Risk-Competitiveness Frontier Using A Genetic Algorithm, Ronnie Tan Jan 1997

Seeking The Profitability-Risk-Competitiveness Frontier Using A Genetic Algorithm, Ronnie Tan

Journal of Actuarial Practice (1993-2006)

Monte Carlo simulation is used to develop a flexible framework to measure the profitability, risk, and competitiveness of any insurance product. A genetic algorithm is then used to seek the optimum asset allocations that form the profitability-risk-competitiveness frontier and to examine the profitability, risk, and competitiveness trade-off's. We also show how to select the appropriate asset allocation and crediting strategy in order to position the product at the DeSired location on the profitability-risk-competitiveness spectrum.

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Discussion Of T.A. Moultrie And R.G. Thomas's ''The Right To Underwrite? An Actuarial Perspective With A Difference", Charles L. Trowbridge Jan 1997

Discussion Of T.A. Moultrie And R.G. Thomas's ''The Right To Underwrite? An Actuarial Perspective With A Difference", Charles L. Trowbridge

Journal of Actuarial Practice (1993-2006)

This interesting but controversial paper studies a subject I too have seriously considered. Nearly a decade ago I was commissioned to prepare a monograph that appeared in 1989 under the auspices of the Actuarial Education and Research Fund under the title Fundamental Concepts of Actuarial Science. 1 Chapter VII of this work, "Classification, Selection, and Antiselection," claims that the cluster of ideas surrounding these three words form a fundamental actuarial concept. I have recently reviewed this monograph (hereinafter FCAS) and am struck by the dissimilarities between the two treatments. The authors of "The Right to Underwrite?" (RTU) were unaware of …

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Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen Jan 1997

Comments On Some Parametric Models For Mortality Tables, Kam C. Yuen

Journal of Actuarial Practice (1993-2006)

Parametric models for the entire age pattern of mortality have been suggested by Heligman and Pollard (1980) and Carriere (1992). The former is designed to fit the classical mortality pattern while the latter is supported by a statistical theory. Insights into their papers motivate us to consider a variation of the Heligman-Pollard model. We also apply these models to the 1993 Hong Kong Assured Lives Mortality Tables as well as the 1991 Hong Kong Female Life Table. This paper is not intended to construct a better parametric model for mortality tables; the main purpose is simply to provide insights into …

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Blue Cross And Blue Shield Of Florida Annual Report: 1997, Blue Cross Of Florida, Inc. Jan 1997

Blue Cross And Blue Shield Of Florida Annual Report: 1997, Blue Cross Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report for 1997 detailing Blue Cross of Florida's business operations, financial assets and expenditures, and executive leadership.

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Talking Points: Medicare Demonstration, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Talking Points: Medicare Demonstration, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Talking Points for a Medicare Demonstration.

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Coalition For Tobacco Responsibility Fact Sheet, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Coalition For Tobacco Responsibility Fact Sheet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Coalition for Tobacco Responsibility Fact Sheet.

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Florida Trend Ppo Inquiry- Health Options Inc., Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Florida Trend Ppo Inquiry- Health Options Inc., Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A inquiry from Florida Trend to Health Options Inc. to be considered for the 1997 Topped Ranked HMO's in Florida.

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Fuzzy Underwriting: An Application Of Fuzzy Logic To Medical Underwriting, Per-Johan Horgby, Ralf Lohse, Nicola-Alexander Sittaro Jan 1997

Fuzzy Underwriting: An Application Of Fuzzy Logic To Medical Underwriting, Per-Johan Horgby, Ralf Lohse, Nicola-Alexander Sittaro

Journal of Actuarial Practice (1993-2006)

One of the most difficult issues in the medical underwriting of life insurance applicants is diabetes mellitus. Compiling the prognosticating parameters for diabetic applicants results in a complex system of mutually interacting factors. In addition, neither the prognosticating factors themselves nor their impact on the mortality risk is clear cut. We show how a fuzzy inference system can be used in underwriting diabetes mellitus. A fuzzy inference system can cope with the imprecise nature of medical parameters by converting them into fuzzy sets and aggregating them using mathematical techniques. The fuzzy underwriting system presented goes further than previous applications of …

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Actuarial Model Assumptions For Australian Inflation, Equity Returns, And Interest Rates, Michael Sherris Jan 1997

Actuarial Model Assumptions For Australian Inflation, Equity Returns, And Interest Rates, Michael Sherris

Journal of Actuarial Practice (1993-2006)

Though actuaries have developed several types of stochastic investment models for inflation, stock market returns, and interest rates, there are two commonly used in practice: autoregressive time series models with normally distributed errors, and autoregressive conditional heteroscedasticity (ARCH) models. ARCH models are particularly suited when there is heteroscedasticity in inflation and interest rate series. In such cases nonnormal residuals are found in the empirical data. This paper examines whether Australian univariate inflation and interest rate data are consistent with autoregressive time series and ARCH model assumptions.

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Pricing Earthquake Exposure Using Modeling, Debra L. Werland, Joseph W. Pitts Jan 1997

Pricing Earthquake Exposure Using Modeling, Debra L. Werland, Joseph W. Pitts

Journal of Actuarial Practice (1993-2006)

This paper demonstrates a practical methodology for determining a statewide rate level indication for the earthquake insurance and for determining more equitable territorial relativities within a state. The methodology is based on the output from a certain commercially available earthquake modeling software package. The methodology addresses some of the complex issues involved in pricing earthquake insurance exposure and potential regulatory acceptance. The paper also features a section dealing with the net cost of reinsurance in the proposed direct rates. A final consideration is the treatment of a model's output when it is believed the modeled results art' less than fully …

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Health Options Blue Cross Blue Shield Of Florida: Medicare & More Welcome Pack, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Health Options Blue Cross Blue Shield Of Florida: Medicare & More Welcome Pack, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Contains: Booklet: Tri-County Area – Summer/Fall: Your Medicare & More Care Network Directory, Pamphlet: Medicare & More Prescription Drug Benefit Program, Pamphlet: Health Options Blue Cross Blue Shield of Florida: Vision One Exam Plus Program, and Packet: Health Options Blue Cross Blue Shield of Florida: Medicare & More Membership Materials, 1996, which contains: Health Options Blue Cross Blue Shield of Florida: Welcome to Medicare & More Handbook, Refrigerator Magnet: Health Options Blue Cross Blue Shield of Florida: Medicare & More, Flyer: Health Options Blue Cross Blue Shield of Florida: Please make an appointment to visit your Primary Care Physician, Bag: …

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Blue Ribbon Benefits Packet, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Blue Ribbon Benefits Packet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

“1997 employee benefits package. Includes the following documents: business card of Shirley Troutman, Benefits Administrator; The Dependent At-Home Care Program brochure; Blue Ribbon Benefits guide; Kelly Assisted Living Services, Inc. Registration form; Blue Ribbon Benefits Cobra letter; Dependent Care Receipt form; Worksheet for Estimating Dependent Day Care Expenses Worksheet; Blue Cross and Blue Shield of Florida, Inc. Table: The Family and Medical Leave Act of 1993 (FMLA); Blue Ribbon Benefits Select Fund form; Enrollment Information; November 14, 1997 Memorandum from Carol Corn (Director, Human Resources) to All Employees, regrading: Blue Ribbon Benefits Annual Enrollment Options; Important Notice: Group Term Life …

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Blue Cross And Blue Shield Of Florida Deerwood Campus Complex Dedication Ceremony, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Blue Cross And Blue Shield Of Florida Deerwood Campus Complex Dedication Ceremony, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Program for the Blue Cross and Blue Shield of Florida Deerwood campus complex dedication ceremony. Circa 1997.

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Blue Cross And Blue Shield Of Florida And Health Options, Inc., Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Blue Cross And Blue Shield Of Florida And Health Options, Inc., Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A manual about group health care program coverage and policy information from Blue Cross and Blue Shield of Florida.

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Florida Trend Ppo Inquiry-Blue Cross Blue Shield Of Florida, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Florida Trend Ppo Inquiry-Blue Cross Blue Shield Of Florida, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A inquiry from Florida Trend to Blue Cross Blue Shield of Florida to be considered for the 1997 Topped Ranked PPO's in Florida.

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Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker Jan 1997

Conflicts And Defense Lawyers: From Triangles To Tetrahedrons, Tom Baker

All Faculty Scholarship

No abstract provided.

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An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery Jan 1997

An Inquiry Into The Efficiency Of The Limited Liability Company: Of Theory Of The Firm And Regulatory Competition, William W. Bratton, Joseph A. Mccahery

All Faculty Scholarship

No abstract provided.

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Blue Cross Blue Shield Of Florida Health Options Information, Blue Cross And Blue Shield Of Florida, Inc. Jan 1997

Blue Cross Blue Shield Of Florida Health Options Information, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Contains: Marketing Letter to Florida Residents, re: Advanced Renal Options program, Promotional leaflet, re: Advanced Renal Options program

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