Risk Loads for Insurers by Sholom Feldblum (Nov. 1990), Discussion by Stephen Philbrick (May 1991), Author‘s Reply to Discussion

Insurance risk has moved to the forefront of the actuary‘s concerns. Three other papers on this topic by Fellows of the Casualty Actuarial Society, all written independently, have appeared at the same time as this one: Kreps [14], Venter [24], and Meyers (IS]. insurance risk is the foundation of the NAIC risk-bused capital requirements (Hartman, et al. [II]; Kaufman and Liebers 1121). It is also the subject of prize paper competitions by the CAS Loss Reserve Committee and the CAS Risk Theory Committee. It is appropriate, therefore, that two actuaries deeply involved in the current deliberations, Glenn Meyers and Stephen Philbrick, have written a discussion of; and articles closely related to, this paper. The ,following remarks, from their articles, along ,with my response to their remarks, provide the reader with a more complete perspective on the issues.