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Discussion Of Brian Jones' "Actuarial Conservatism: Not In Public Sector Defined Benefit Pension Plans", Richard Daskais

Journal of Actuarial Practice (1993–2006)

No abstract provided.

Hiv, Aids, Markov Processes, And Health And Disability Insurance, Steven Haberman

Journal of Actuarial Practice (1993–2006)

This paper presents a Markov model of the transmission and development of HIV and AIDS. The Markov model is used to derive functions needed in the calculation of disability insurance premiums, reserves, and cash flows. An application to health insurance and disability insurance is provided.

Life Insurer Risk-Based Capital: An Option Pricing Approach, Samuel H. Cox, Arthur M.B. Hogan

Journal of Actuarial Practice (1993–2006)

This paper uses an option pricing framework to estimate life insurer risk-based capital. Stock market data and statutory asset and liability data are used to calculate the implied level of statutory risk-based capital for each of 18 insurers. We calculate the level of risk-based capital required to avoid subsidy from the guaranty fund. Our results suggest that less capital is required than that required under the New York actuarial risk-based capital formula. Firm rankings, however, are similar under both methods, although the methods are not directly comparable. We also determine the level of capital required if the subsidy provided to …

Model Year Rating For Automobile Liability And Injury Coverages, Leonard T. Guarini, Edward P. Lotkowski

Journal of Actuarial Practice (1993–2006)

This paper is intended to stimulate further research and discussion on the validity and utility of model year rating for personal automobile coverages other than physical damage. Using data from a single insurer and some elementary statistical techniques, we provide evidence supporting model year as a classification variable for automobile liability and injury coverages.

Actuarial Conservatism: Not In Public Sector Defined Benefit Pension Plans, Brian A. Jones

Journal of Actuarial Practice (1993–2006)

Most actuaries tend to be conservative, and most, including this writer, probably would be happy to be so categorized. But actuarial conservatism may not be the best rule in defined benefit public sector pension plans. This paper argues that it is not appropriate for actuaries to employ conservatism assumptions in such public sector plans.

A Pension Plan Incorporating Both Defined Benefit And Defined Contribution Principles, Zaki M. Khorasanee

Journal of Actuarial Practice (1993–2006)

We propose a defined contribution pension plan with an explicitly defined benefit formula. Such a plan is expected to pay more stable and predictable benefits over time than one based on the money purchase principle. The properties of the plan are investigated through simulation. Methods for distributing surpluses and eliminating deficiencies that involve adjusting the rate of benefit accrual (rather than varying the rate of contribution) are discussed. The behavior of the plan under a scenario of persistently unfavorable investment experience is Simulated, and methods for satisfactorily dealing with such a scenario are considered. The plan actuary is expected to …

Measuring And Managing Catastrophe Risk, Ronald T. Kozlowski, Stuart B. Mathewson

Journal of Actuarial Practice (1993–2006)

We introduce some of the basic principles behind property catastrophe modeling via simulations. The output of such simulations can be explored via modernized pin maps and loss likelihood curves. We also briefly discuss some of the uses of catastrophe modeling in addition to traditional probable maximum loss estimation. Comments are made on the use of modeling by reinsurers. We hope that this article stimulates discussions on new approaches to catastrophe modeling.

Simulation Of Investment Returns For A Money Purchase Fund, Zaki M. Khorasanee

Journal of Actuarial Practice (1993–2006)

This paper examines the problem of investment risk in money purchase pension plans. The disadvantages of modeling equity returns as independent, identically distributed random variables are conSidered, and a modified stochastic model of equity returns is proposed. This modified stochastic model is used to estimate the variability in a plan member's retirement fund and to compare various alternatives to investing 100 percent of the assets in ordinary shares. Varying conclusions are drawn about the likely success of these alternative investment strategies in reducing investment risk.

Recent Canadian Human Rights Decisions Having An Impact On Gender-Based Risk Classification Systems, Robert L. Brown

Journal of Actuarial Practice (1993–2006)

With the passage of the Canadian Charter of Rights and Freedoms on April 17, 1982, all previous court precedents using gender in risk classification systems became obsolete. Three cases involving issues of discrimination in the use of age and gender now clarify the position of the Canadian judiciary. Based on the decisions in these three cases, this paper presents arguments that can be used in any jurisdiction to defend successfully the use of gender in a property /casualty risk classification system.

Discussion Of Robert L. Brown's "Recent Canadian Human Rights Decisions Having An Impact On Gender-Based Risk Classification Systems", Patrick Butler

Journal of Actuarial Practice (1993–2006)

This commentary examines the political and economic influence of demographic groups on rationales for granting exemption from laws prohibiting classification by age or sex, as evidenced in the cases discussed by Robert L. Brown. Age is less subject than sex to manipulation for group advantage. In Professor Brown's discussion of auto insurance cases, only the influence of group dominance can explain:

• Selective focus on young drivers;

• Indifference to ongoing overcharging of adult women signaled by undisputed 2:1 ratios of cost-related averages; and

• Avoidance of effective ways to evaluate miles of exposure to risk.

Contrary to Professor Brown's …

Obtaining A Life Table For Spinal Cord Injury Patients Using Information Theory, Patrick L. Brockett, Yun Song

Journal of Actuarial Practice (1993–2006)

We present a mortality table adjustment method based on a constrained information theoretic methodology. The objective is to adjust a standard mortality table to reflect a particular known characteristic of the population while remaining as close as possible to a given standard table. To illustrate these techniques, the medical results concerning survival of spinal cord injury patients are incorporated into a standard table to obtain a mortality table pertinent for paraplegic and quadriplegic individuals. The desired adjusted mortality table can be used by actuaries for special purposes such as wrongful injury damage award compensation calculations and determining life insurance premium …

Expected Loss Development In Workers' Compensation Pricing: A Shift In Credibility, Christopher J. Poteet

Journal of Actuarial Practice (1993–2006)

This paper shows that expected loss development is equivalent to adjusting the full credibility standard and applying credibility by policy period. Expected loss development should not be used in workers' compensation ratemaking. The credibility is correct before being adjusted.

Congestive Heart Failure Program Packet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Congestive Heart Failure Program packet, containing: congestive heart failure program template letter, congestive heart failure program overview, congestive heart failure participation agreement, living with heart failure questionnaire, business reply mail envelope, The Puzzle of Heart Failure manual, congestive heart failure program magnet, congestive heart failure daily log, Things To Do Today sheet, congestive heart failure program community resource guide.

Bcbsf Public Policy Issue Papers, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Public policy issue papers for BCBSF from 1992-1995.

Outline For Discussion Of Development Of Bcbsf Since 1979, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

An Outline for Discussion of Development of BCBSF Since 1979.

Map- Allowed Dollars Per 1,000 Traditional Medicare Enrollees, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A map for the Allowed Dollars Per 1,000 Traditional Medicare Enrollees.

Map- Nutritional Distribution Of Allowed Dollars/1,000 Traditional Medicare Enrollees, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A map about the Nutritional Distribution of Allowed Dollars/1,000 Traditional Medicare Enrollees.

Overview Of Medicare Dermatology Issue: Removal Of Benign Or Premalignant Skin Lesions, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Overview of Medicare Dermatology Issue: Removal of benign or Premalignant Skin Lesions

Non-Contributory National Long Term Disability Program – Summary Program Description, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee long-term disability handbook. Includes the following attachment: July 20, 1995 Inter Office Memo from Mimi Gilbert-Quinn (Compensation & Benefits) to All Employees, regarding Summary Program Description for the Non-Contributory Long Term Disability Program.

Group Life Insurance – Summary Program Description, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee group life insurance handbook.

Blue Cross And Blue Shield Of Florida - Florida Combined Life Insurance, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 premium rates for supplemental life insurance sheet.

Non-Contributory National Retirement Program – Summary Program Description, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee health benefits handbook for retired employees. Includes the following attachments: Summary of Material Modification form and July 31, 1995 Inter Office Memo from Mimi Gilbert-Quinn (Compensation & Benefits) to All Employees, regarding Summary Program Description for the Non-Contributory National Retirement Program.

Blue Ribbon Benefits – 1995 Employee Benefit Information, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1995 employee health benefits handbook.

Marketing Education & Development, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Quarterly newsletter published to inform, update and inspire the BCBSF marketing staff. 1995.

Journal Of Actuarial Practice, Volume 3, No.1, 1995, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Life Insurer Risk-Based Capital: An Option Pricing Approach • Samuel H. Cox and Arthur M.s. Hogan

Surveillance of Life Insurer Solvency: A Comparison of Stock and The Multiple Scenario Cash Flow Financial Stress Tests • Ronald W. Spahr and Paul L. Gronewolier

HIV, AIDS, Markov Processes, and Health and Disability Insurance • Steven Haberman

Obtaining a Life Table for Spinal Cord Injury Patients Using Information Theory • Patrick L. Brockett and Yun Song

Simulation of Investment Returns for a Money Purchase Fund • M. Zaki Khorasanee

Decision Making Under Conflicting Criteria In Pension Valuations: An Expected Utility Model • …

Present Status And Perceived Importance Of Computer Skills In A Taiwanese Service Industry, En-Ming Tseng

Dissertations and Theses @ UNI

The purpose of this study was to provide researchers,computer technologists, management and trainers with information concerning the current status and importance regarding computer skills for agents in the Taiwanese life insurance industry. In addition to identifying important computer skills for this population, this research investigated differences in perceptions of computer directors (major computer system developers), sales managers(major training providers), and life insurance agents(computer end-users) regarding the current status and importance of computer skills for life insurance agents.

Survey instruments were developed through the literature review as well as through expert interviews and validations. Investigated samples include all 30 computer directors …

Blue Cross And Blue Shield Of Florida Annual Report: 1995, Blue Cross Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report for 1995 detailing Blue Cross of Florida's business operations, financial assets and expenditures, and executive leadership.