Insurance Commons^™

Pension Funding By Normal Costs Or Amortization Of Unfunded Liabilities, Keith P. Sharp

Journal of Actuarial Practice (1993–2006)

We discuss the extent of the actuary's freedom in choosing the funding method for defined benefit pension plans. In particular, we look at funding through a combination of normal costs, amortization of an unfunded liabilities, and fund of assets. The IRS constraint on "reasonable funding methods" is considered, with particular mention of the aggregate entry age normal method. In addition, an algebraic development is performed of year-to-year changes in the status of a plan's funding.

A Proposal For Improving The System Of Financing Health Care In Singapore, Robert Keng Heong Lian, Loi Soh Loi

Journal of Actuarial Practice (1993–2006)

Like many other countries, including the United States, Singapore faces the dual problems of rising health care costs and an aging population. To cope with these problems, the Singapore government introduced the Medishield scheme in 1989 that provides low cost catastrophic medical insurance coverage. The scheme suffers from a serious deficiency, however: coverage ceases at age 70. This deficiency is exacerbated by Medishield's premium payment structure which is akin to the premium structure of a one year renewable term policy so no reserves are developed. As a result, coverage beyond age 70 requires exorbitant premiums that are beyond the reach …

Chart- Medicare (Part B): Medical Insurance Covered Services For 1996, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Chart- Medicare (Part B): Medical Insurance Covered Services for 1996.

Blue Cross And Blue Shield Of Florida Annual Report: 1996, Blue Cross Of Florida, Inc.

Florida Blue Archives Printed Materials

Annual company report for 1996 detailing Blue Cross of Florida's business operations, financial assets and expenditures, and executive leadership.

Folder Packet, With Medicare Skin Lesion Policy Items, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Folder Packet, with Medicare Skin Lesion Policy Items: Fact Sheet: Medicare Coverage Policies, Chart- Medicare (Part B): Medical Insurance Covered Services for 1996, Special Issue- Coverage for Benign or Premalignant Skin Lesion Removal, Clarification of Medical Policy for Skin Lesion Removal.

Clarification Of Medical Policy For Skin Lesion Removal, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Clarification of Medical Policy for Skin Lesion Removal.

Fact Sheet- Medicare Coverage Policies, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A Fact Sheet about Medicare Coverage Policies.

Individual Coverage Info 1996 - Health Options Sample Mailer Packet, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Individual Coverage Info 1996. Health Options sample mailer packet, containing: Blue Care HMO template letter and application, Health Options premium validation statement, Health Options suggested guidelines for health examinations, screenings, and immunizations, HMO membership individual application, Health Options paramedical exam disclosure statement, template letter from Reggie Rogers, sales manager, re: Blue Care HMO, Brochure: With New Blue Care You’re In Control, individual HMO cash receipt, booklet: Introducing Our Doctors and Hospital, business reply mail envelope.

Handout: Q&A Baptist/St. Vincent's Hospitals And Bcbsf, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Brochure: Hfca (Health Care Financing Administration) How To Read Your Medicare Summary Notice Inpatient And Outpatient Claims, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Brochure: Hcfa (Health Care Financing Administration) How To Read Your Medicare Summary Notice [Medicare B], Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Blue Cross And Blue Shield Of Florida Business Overview, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Blue Cross and Blue Shield of Florida Business Overview.

Executive Summary, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

An Executive Summary from Blue Cross and Blue Shield of Florida.

Jacksonville Legislators Win Top Honors For Outstanding 1996 Achievements, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

A news release about Jacksonville Legislators Winning Top Honors for Outstanding 1996 Achievements.

1996-1997 Corporate Directory, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1996-1997 corporate directory.

Manual Core Business Orientation Program, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

1996 Core Business Orientation Program manual.

Journal Of Actuarial Practice, Volume 4, No. 2, 1996, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Methodologies for Determining Reserve Liabilities in the Workers Compensation High Deductible Program • Jerome J. Siewert

Third Party Administrator (TPA) Service Pricing and Incentive Contracts • Hou-Wen Jeng

Annuity Choices for Pensioners • M. Zaki Khoransee

Pension Funding by Normal Costs or Amortization of Unfunded Liabilities • Keith P. Sharp

What We Say in the NAIC Annual Statement Blank Actuarial Opinion • Kenneth W. Faig, Jr.

Constrained Forecasting of the Number of IBNR Claims • Louis G. Doray

Editor - Colin Ramsay, University of Nebraska. Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of …

Key Messages: Medicare Demonstration, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

Key Messages for a Medicare Demonstration.

1995 Health Options, Inc. Physicians And Office Managers Annual Report, Blue Cross And Blue Shield Of Florida, Inc.

Florida Blue Archives Printed Materials

No abstract provided.

Selected Problems Involving The Probability Of Ruin For An Insurance Company, Andrew J. Schafer

Presidential Scholars Theses (1990 – 2006)

In the actuarial science literature, an insurance company is said to be ruined if, at some time t > 0, the aggregate claims up to time t exceed the sum of the initial surplus and the total premium collected up to time t. The calculation and/or estimation of the probability of ruin is of fundamental importance. In this paper we use computer simulation to estimate the probabilities of ruin over a finite horizon of time when the aggregate claims process is Compound Poisson and the distribution of the claim sizes is: (i) Weibull, and (ii) exponential with a random parameter. The …

Journal Of Actuarial Practice, Volume 4, No.1, 1996, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

An Approach to Estimating Market Value and Duration of Interest-Sensitive Whole Life Contracts • Thomas J. Merfeld

Participating GICs: Performance Attribution Analysis • Alec Stais and John P. Toohey III

Asset Allocation in Investing to Meet Liabilities • Anthony Dardis and Vinh Loi Huynh

A Possibilistic Linear Programming Method for Asset Allocation • Lijia Guo and Zhen Huang

Nonmedical Limits in Individual Life Insurance • James B. Ross and Shalini Perumpral

A Proposed New System of Financing Health Care in Singapore • Robert Keng Heong Lian and Loi Soh Loi

Concentration in American Property-Casualty Companies • Edward Nissan

Bias …

What We Say In The Naic Annual Statement Blank Actuarial Opinion, Kenneth W. Faig Jr.

Journal of Actuarial Practice (1993–2006)

The new language adopted for the actuarial opinion in the National Association of Insurance Commissioners' model actuarial opinion and memorandum regulation has been weakened at the same time the responsibilities of the opining actuary have been increased. The restoration of stronger language to the actuarial opinion would enhance the professional image of the actuary. If the legal environment for professional liability inhibits such a change, the opinion should be changed to describe more precisely the work performed and the conclusion reached by the actuary.

Disclosure And Confidentiality Requirements Of Corporate Pension Plan Actuaries, Theodore Konshak

Journal of Actuarial Practice (1993–2006)

Corporate pension plan actuaries are subject to the standards of the Joint Board for the Enrollment of Actuaries. The Joint Board is empowered to establish such standards under the provisions of the Employee Retirement Income Security Act of 1974, a federal law. In consideration of these statutory standards, this article will discuss whether standards published by professional actuarial organizations have any applicability. The contrast between the disclosure requirements of federal law and the confidentiality standards of the Society of Actuaries will be highlighted.

An Approach To Estimating Market Value And Duration Of Interest-Sensitive Whole Life Contracts, Thomas J. Merfeld

Journal of Actuarial Practice (1993–2006)

A fixed premium interest·sensitive whole life contract is analyzed in order to estimate its market value. In addition, using various definitions of duration, we determine the duration of the contract for each definition. The results of this analysis have implications for market value accounting of life insurance liabilities and for life company portfolio management.

Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral

Journal of Actuarial Practice (1993–2006)

This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.

Nonmedical Limits In Individual Life Insurance, James B. Ross, Shalini E. Perumpral

Journal of Actuarial Practice (1993–2006)

This paper shows data that illustrate the substantial variation among nonmedical schedules and the dramatic increase in their amount limits from 1972 through 1992. Coefficients of variation are analyzed for several data subsets. We find that the variation of schedules in the sample of all firms has increased throughout the 1972-1992 period for issue ages up to 30, but has declined for issue ages beyond 30 during the 1982-1992 period. For the non-New York and stock companies our statistical tests indicate an increase in the variability of schedules over the full period 1972 to 1992.

Participating Gics: Performance Attribution Analysis, Alec Stais, John P. Toohey Iii

Journal of Actuarial Practice (1993–2006)

The increasing popularity of participating GICs has created a need for an objective understanding of their performance. The fixed income attribution techniques are not adequate for measuring participating GIC performance because they typically restrict performance measurement to concepts such as duration management, sector rotation, and issue selection. We develop an attribution technique based on four components or effects that are helpful in explaining the changes in credited rates. They are the constant duration effect, the reinvestment effect, the cash flow effect, and the investment effect. The underlying mathematical approach to calculating these effects is presented along with examples.