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Cost-Based Pricing Of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis, Patrick Butler

Journal of Actuarial Practice (1993–2006)

Every mile traveled by a car transfers risk to its insurer. This paper posits that the product of a cents-per-mile rate based on class experience and the miles recorded on the car's odometer appropriately earns prepaid premium while the car is driven. Operation of a practical car-mile system is described briefly. To test the competing idea that driver-record pricing responds to known large differences in risk transfer, a model used to validate claim free discounts is reexamined with the car-mile as the measure of individual cost. Driver-record pricing is found to inflate car-year price-to-cost differences. Consequences of accident rate variability …

Ethical Issues, Helps, And Challenges: Perceptions Of U.S. Actuaries, Therese M. Vaughan, Robert W. Cooper, Garry L. Frank

Journal of Actuarial Practice (1993–2006)

This paper reports the findings of a survey of Fellows of the Casualty Actuarial Society (FCAS) to determine their perceptions of the key ethical issues and dilemmas facing the industry today and the factors they view as most helpful and challenging in resolving these dilemmas. The responses are compared to a previous survey of Fellows of the Society of Actuaries (FSA). The study finds that FSAs and FCASs tend to rank key ethical issues similarly and that both groups of actuaries tend to look first to their own personal values, second to certain factors in their business environment, and last …

Managing The Relative Volumes Of Participating And Nonparticipating Business In A Mutual Life Company, Robert G. Chadburn

Journal of Actuarial Practice (1993–2006)

Management decisions of a mutual life company involving the amounts and relative proportions of participating (with profits) and nonparticipating (without profits) business and the level of expenses are examined in relation to their effect on participating policyholders' returns. A particular expense ratio is defined that plays a key role in a framework for making such decisions. The sensitivity of participating policy returns to changes in each factor are analyzed. Companies with expense ratios (as defined) of less than 2 are shown to prefer a different strategy from companies with higher ratios. There is an incomplete tendency for the ratio to …

Life Insurance Applications Of Recursive Formulas, Timothy L. Giles

Journal of Actuarial Practice (1993–2006)

This paper discusses several practical applications of recursive formulas:

a) Traditional whole life-As an introduction, the well-known relationship between successive terminal reserves is reviewed. Recursive formulas are developed to calculate the reserves and the premiums;

b) Universal life-Recursive formulas are used both for the calculation of target premiums and reserves. Consideration is given to the TEFRA corridor;

c) Paid-up rider-A participating single premium rider that provides a level death benefit can be devised using an inherent one year term benefit. Recursive functions are used to determine the premium that precisely matures the rider.

Because the APL programming language is particularly …

Blue Cross Blue Shield Advantage 65 Select Information Packet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Blue Cross Blue Shield Advantage 65 packet, containing:Letter: Joseph Sabotin, re: Advantage 65 Select Medicare Supplement insurance, Brochure: What Medicare Supplement Insurance Plan Gives You More…, Personal Enrollment Form for Medicare Supplement Insurance,Extra Enrollment Form for Medicare Supplement Insurance.

Bcbsf Statement On Facilities, With Two Attached Articles: One Name Surfaces On Big Project; Details Outline Huge Development Project, 1/20/1993, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A BCBSF statement on facilities with two attached articles.

Delivery System Relations, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Delivery System Relations.

Journal Of Actuarial Practice, Volume 1, No.1, 1993, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Global Social Security: How the Rules are Changing in Certain Countries • Robert J. Myers

On Becoming a Cost Effective Company • Robert D. Shapiro and Barton H. Clennon

The Process of Pension Forecasting • Michael Sze

Cost-Based Pricing of Individual Automobile Risk Transfer: Car-Mile Exposure Unit Analysis • Patrick Butler

Discussion • Ruy A. Cardoso & Richard G. WolI & Patrick Butler's Reply

A New Approach to Modeling Excess Mortality • Peter D. England and Steven Haberman

The Small Plan Audit Program: The Opinions of the Court • Arnold F. Shapiro

BOOK REVIEWS

A. Hoque Sharif reviews "Options …

Blue Cross And Blue Shield Of Florida Annual Report: 1993, Blue Cross Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report for 1993 detailing Blue Cross of Florida's business operations, financial assets and expenditures, and executive leadership.