Ratemaking 1993: A Play 'Not Ready for a Stable Market'

In April, 1993, the "Not Ready For A Stable Market Players" (Dave Skurnick, Jerry Tuttle, Helen Exarhos, Nolan Asch) presented a 3 Act Play at a CAS Special Interest Seminar in Raleigh/Durham, North Carolina. It looked at 3 Mythical Companies; Mindless Mutual, Global Galactic and Cowboy Casualty. It concentrated on explaining some of the behavioral forces that might influence the UW Cycle and how they interact with certain Actuarial factors. I repeated the 1989 Play and then revisited the same three firms in 1993 with a topical update. Perhaps four years later (or sooner) the Author will try to update the Play. There seems to be a need, in my opinion, for Actuaries to test the accuracy and appropriateness of their models and assumptions in the real world over the long run.