Browse Research
Viewing 4401 to 4425 of 7690 results
1995
The actuarial theory of insurance risk loads has followed a meandering course. Actuaries have approached this subject with different perspectives, contributing important but seemingly unrelated insights. Todd Bault’s masterful discussion of “Risk Loads for Insurers” demonstrates the connections between the different approaches, thereby laying a firm foundation for a unified theory.
1995
This note describes the calculation of the solvency margin for Canadian insurance companies. The solvency margin is designed to keep assets sufficiently higher than required so unfavorable underwriting results in the following year can be absorbed and there is a minimal risk that the insurer will become insolvent.
1995
One of the many regulations established under the Insurance Companies Act that limits the use of reinsurance by insurers in Canada. The Reinsurance (Canadian Companies) Regulations and the Reinsurance (Foreign Companies) Regulations define the limitations of reinsurance. The two regulations are almost identical, except for the business of Canadian insurers written outside Canada.
KEY WORDS: Reinsurance, Regulation.
1995
This study note describes published sources of financial information related to P&C insurers and reinsurers in Canada in order to assist actuaries in their analysis of other companies’ financial health. The information included in each source is detailed.
1995
Reinsurance Research
1995
The required loss reserve for a recent time period is estimated by using the recent loss experience plus two probability distributions. One distribution is of ultimate losses for the recent period, based on prior experience and rate adequacy changes. The other distribution is of the ratio of the estimator based on recent experience to the true ultimate loss.
Keywords: Loss Distributions
1995
This paper challenges the conclusion of Murphy’s paper that the simple average development factor method and the weighted average development factor method are unbiased. The author states that these two methods are, in fact, biased upwards. He claims that Murphy’s results are incorrect because Murphy’s models have unrealistic properties. The author then presents statistical support for his assertion.
1995
This article examines the predictable variation in long-maturity government bond returns in 6 countries.
1995
In this paper we present a stable recursive algorithm for the calculation of the probability of ultimate ruin in the classical risk model. We also present stable recursive algorithms for the calculation of the joint and marginal distributions of the surplus prior to ruin and the severity of ruin. In addition we present bounds for these distributions.
1995
We study whether the behavior of stock prices, in relation to size and book-to-market-equity (BE/ME), reflects the behavior of earnings. Consistent with rational pricing, high BE/ME signals persistent poor earnings and low BE/ME signals strong earnings. Moreover, stock prices forecast the reversion of earnings growth observed after firms are ranked on size and BE/ME.
1995
The following report of the Travel Time Working Group represents the culmination of a 2 year effort to establish the information needs of the CAS necessary to monitor travel time, ensure that the CAS database contains the requisite information, define the criteria by which travel time should be monitored and draw preliminary conclusions regarding the impact of exam partitions on travel time, if possible.
1995
The CAS Long Range Planning Committee prepares a report to the CAS Board each year regarding issues the Committee believes will be of importance to the evolution of the CAS over the next several years. This report was originally prepared in 1994 but reflects some changes based on input from the Board at its February, 1995 meeting. The recommendations are those of the Committee and have not been adopted by the Board at this time.
1995
Reinsurance Research - General/NOC
1995
1995
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.
1995
Reinsurance Research - General/NOC
1995
Reinsurance Research - Pricing/Contract Design
1995
Ratemaking data, particularly loss development patterns, for a state which has enacted major workers compensation reform is not available for a number of years following reform. As a result adjustment, or actuarial judgment, needs to be applied to historical pre-reform data to reflect expected post-reform loss development patterns. The adjusted pattern can then be incorporated into traditional ratemaking methodologies.
1995
Actuaries are acquainted with the basic ideas of Modem Portfolio theory and the Capital Asset Pricing Model (CAPM). Briefly, portfolios are formed by weighting risky assets with varying means, variances. and covariances. Each portfolio can be plotted in the X-Y plane by its total return, with the standard deviation as the x-coordinate and the mean as the y-coordinate.
