By Steven F. Malerich
To improve accounting for insurance contracts, the Financial Accounting Standards Board (FASB) has decided to eliminate retrospective DAC adjustments, but to require retrospective updates for traditional life and health insurance reserves.
By Mark R. Shapland
There’s a paradigm shift underway in benchmarking unpaid claims. Nearly every far-reaching decision any insurance entity makes—from pricing to capital needs and risk management—hinges in some way on projections of unpaid claims.
By D. Joeff Williams
My father was a civil engineer who loved to do carpentry as a hobby. As a kid, I had a chance to help him on some of his projects and to share in his enthusiasm for woodworking.
By Jane Melia
No matter what industry your clients are in, chances are they already have data stored in the cloud.
By James A. Palmier
There was over $20.8 trillion of life insurance in force in the United States in 2015 (American Council of Life Insurers, 2016).
By Benjamin Slutsker, Kevin Piotrowski, and Linda Lankowski
Principle-based reserving (PBR) is a new statutory reserve regulation that combines company-specific assumptions with prescribed rule-based requirements.
By Li Liu, Xiaoxue Liu, and Austin Krompasky
Throughout modern history, mortality has steadily decreased. Remarkably, this improvement can be seen for all ages and almost all major causes of deaths.