With the proposed RBC requirements for variable annuities with guarantees (so called C3 Phase II) requiring stochastic testing, there should be a lot of interest in the approaches to reducing the number of runs. This article provides strategies to reduce number of runs in stochastic insurance modeling as well as cash flow testing when the interest scenarios are stochastic. Three interest rate s...

The insurance industry currently discusses to which extend they can integrate an illiquidity premium into their best estimate considerations of insurance liabilities. The present position paper studies this question from an actuarial perspective that is based on marketconsistent valuation. We conclude that mathematical theory does not allow for discounting insurance liabilities with an illiquid...

1 The purpose of this paper is to explore, in practical terms, prospects for empirical analysis in the non-life insurance market in Ireland, with particular reference to Motor, Employer's Liability and Public Liability insurance. The paper is being made available to potential candidates for a consultancy contract in relation to the study on insurance being carried out jointly by the Authority a...

Employers have many financial, liability and human resource reasons for providing employees purchase substance abuse treatment programs. However, using medical insurance to facilitate the purchase of this service does not make sense. This column explains why insurance is not the best vehicle for providing treatment for chemical dependency and how the purchasing of such a service can be better m...

The article investigates the features of installation and construction risks insurance. It is found that relations in field insurance Ukraine are regulated by Law "On Insurance", but this regulatory act does not contain special provisions for emphasized includes a set related to several branches Objects relevant identified. types programmes developed world practice systematized. Analysis inform...

Although liability under general tort and contract law principles is not limited to a certain amount, liability arising under a carriage contract is limited by the majority of international transport conventions and national legislatures. Undoubtedly, limitation of liability is one of the most important elements of shipping law since, today, the carrier’s liability insurance system is based exc...

This article analyzes alleged underpricing of general liability insurance prior to the mid-1980s liability insurance "crisis." The theoretical analysis considers whether moral hazard and/or heterogeneous information for forecasting claim costs can cause some firms to price too low and depress other firms' prices. Crosssectional analysis of insurer loss forecast revisions (which should be greate...