{"title":"The Intermediary's Dilemma: Assessing the Financial Strength of Life Offices.","authors":"M. Ljeskovac, D. Nisbet, J. A. Ross","doi":"10.1017/S204992990001045X","DOIUrl":"https://doi.org/10.1017/S204992990001045X","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121610267","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"REPACKAGING THE LIFE OFFICE","authors":"A. Kerr, I. Rogers, F. Nietzsche","doi":"10.1017/S2049929900010436","DOIUrl":"https://doi.org/10.1017/S2049929900010436","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121652392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Annual Report and Accounts 1987–88.","authors":"A. Whalley","doi":"10.1017/S2049929900010503","DOIUrl":"https://doi.org/10.1017/S2049929900010503","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122321323","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Dissection of Pensions Funding","authors":"W. O'Regan, J. Weeder","doi":"10.1017/S2049929900010424","DOIUrl":"https://doi.org/10.1017/S2049929900010424","url":null,"abstract":"This paper is about actuarial methods of funding pension schemes and follows on from the report of the Working Party of the Pensions Standards Joint Committee on Terminology of Pension Funding Methods (The Terminology Report) published in 1984. It looks at the basic structure of the main methods and at how they behave. We then discuss the question of the suitability of the methods under various conditions. The reader may find it useful to have a copy of the Terminology Report to hand. The paper is written against a background of uncertainty, as regards the State Earnings-Related Pension Scheme, and of great debate and legislative activity as regards Occupational Pension Schemes. This activity and debate makes it more important than ever before that the actuarial profession explains its methods and approaches to those in the pensions industry who are not actuaries, but who nevertheless rely on actuarial advice.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"111 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127061369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determination of the Contribution Rate to Money Purchase Arrangements.","authors":"David Carr, G. Simmons","doi":"10.1017/S2049929900010473","DOIUrl":"https://doi.org/10.1017/S2049929900010473","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114289378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"PROFESSIONAL INDEMNITY INSURANCE","authors":"N. D. Hooker, L. Pryor","doi":"10.1017/S2049929900010412","DOIUrl":"https://doi.org/10.1017/S2049929900010412","url":null,"abstract":"Recent years have seen many changes affecting the market for professional indemnity insurance. The law is changing, widening the scope of liability. The insurance market is changing, with more mutuals and captives being formed. The price and availability of insurance are changing, too. The internationalization of professional firms has introduced new problems, with claims being brought in the jurisdiction perceived as most favourable to the claimant. The broadening range of services offered by individual firms, and the consequent growth of truly multidisciplinary firms, can only make the situation more complex. Like many other insurance markets, the market for professional indemnity insurance is cyclical. In the two or three years following 1984 most premiums more than doubled in real terms, and deductibles rose significantly. At the same time capacity fell. The result of all this change is that professionals are considering their indemnity insurance needs in a new light. The main reason for buying insurance is to provide a smooth cash flow. This need has not been met in the recent past. We therefore believe that now is an appropriate time for the attention of actuaries to be drawn to professional indemnity insurance.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131737436","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Generalized Linear Models in Actuarial Work","authors":"S. Haberman, A. Renshaw","doi":"10.1017/S2049929900010485","DOIUrl":"https://doi.org/10.1017/S2049929900010485","url":null,"abstract":"THE use of classical linear models in actuarial work is not new. Such models have become an established part of the description of claim frequency rates and average claim costs in motor insurance—as evidenced by a number of papers, including Johnson and Hey, Grimes, Bennett, Baxter et al. and Coutts. However, the use of generalized linear models in actuarial work is relatively new. Thus, McCullagh and Nelder give a number of examples of the fitting of generalized linear models to different types of data. One of these relates to data from Baxter et alS on the average claim costs in a motor insurance portfolio (originally modelled by Baxter et al. using a weighted least-squares approach). We made a small step in the direction of using generalized linear models in life insurance when we modelled the variation of lapse rates with age at entry, duration of policy, type of policy and insurance company''. Some of these models are described further in this paper. The purpose of the paper is to show that generalized linear models have a wide area of application in actuarial work and are not confined merely to models for motor insurance premiums. This purpose is fulfilled by demonstrating three separate practical applications in actuarial work:","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130050548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Perspectives on actuarial education","authors":"Lindsay Paterson, D. Dickson, M. Hardy","doi":"10.1017/S2049929900010448","DOIUrl":"https://doi.org/10.1017/S2049929900010448","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"248 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114550493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fitting the Truncated Pareto Distribution to Loss Distributions","authors":"A. V. Boyd","doi":"10.1017/S2049929900010291","DOIUrl":"https://doi.org/10.1017/S2049929900010291","url":null,"abstract":"Hogg and Klugman use the truncated Pareto distribution with probability density function where δ ≥0 is specified and α > 0 and λ > 0 are unknown parameters, to describe insurance claims. This is fitted first of all by the method of moments, using the estimators and where is the mean of a simple random sample, and the (biased) variance The authors then suggest, on pp. 113–16, that these estimates be used as starting values in a Newton iteration to get the maximum likelihood estimates of the parameters, but this technique can fail as a result of convergence problems. The object of this note is to show that this has led Hogg and Klugman to underestimate seriously the area in the tail of a fitted loss distribution, and to discuss a method of circumventing this difficulty.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1988-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126001510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Some Aspects of the Statutory Valuation.","authors":"S. Elliott","doi":"10.1017/S204992990001028X","DOIUrl":"https://doi.org/10.1017/S204992990001028X","url":null,"abstract":"","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1988-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128198394","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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