This issue features an interesting mix of pieces that address our ever-evolving world of insurance. From stochastic loss reserves to price optimization to dinner, this AR should appeal to just about everyone.
Our cover article, “The Mad World of Political Risk Insurance,” recognizes our Society’s global interests and presence as Steven Sullivan explores this little-known but very important line of insurance coverage. For a topic of more local interest, Annmarie Geddes Baribeau covers the latest matters involving price optimization in “Descending Confusion.”
Are you attending the CAS Annual Meeting in November? If you were a CAS member when the NAIC first required an actuarial opinion on the loss reserves, then you are eligible to attend the Seasoned Actuaries Dinner at the Annual Meeting. Staying at home in November? The CAS offers a new online course on statistics for reserve variability to keep you occupied and help you earn those needed continuing education hours. Because “being the best doesn’t guarantee survival” and “the best ideas don’t always get implmented,” you shouldn’t miss the featured address by Jonah Berger at the CAS Annual Meeting. It will be webcast live only, so mark your calendars. See the CAS website for details.
Reinsurers and how their markets are changing are the subjects of two articles in Professional Insight. Also, at the center of the President’s Message, Bob Miccolis challenges CAS members to think about how a brand-new startup would gain traction in our marketplace. I have been thinking about this question since I read the article.
Last but certainly not least, kudos are in order. Read how the CAS has been recognized for exemplary marketing and communications programs. Good for us!
Correction
The Explorations column, “Dependencies in Stochastic Loss Reserve Models,” (Actuarial Review July-August 2015) contains two errors. The mean for Figure 1 (Group Code 353) should be -0.206, not 0.206, and Figure 1 shows 0.01 on the x axis rather than 0.1. AR regrets the errors.
