The Actuarial Review
THE NEWSLETTER OF THE CASUALTY ACTUARIAL SOCIETY · VOL. 33, NO. 2 · May 2006

Constitution, Bylaws Changes to be Voted on During 2006 Elections   The CAS Board of Directors will propose a series of changes to the CAS Constitution and Bylaws for the Fellows' approval on the 2006 ballot, based on resolutions passed during the meeting of the board held here on March 9-10, 2006. The proposals, if passed, will make two important changes in the way the CAS is governed.  Continued...

Actuarial Aspects of Alito's Confirmation Hearings   mdash; C.K. "Stan" Khury—Once in a while the actuarial content of an event is just too good not to notice. The recent confirmation hearings of Judge Samuel Alito presented one of those. Judge Alito might as well have been an actuary defending his work. He was often asked about his views on various issues, including abortion, separation of powers, and civil liberties. In response he explained some of his relevant past decisions and, when there wasn't such a case, he explained how he would go about making his decision.  Continued...

From The President: Our Time to Shine   —Paul Braithwaite—The word is out-and chances are, you have already heard about the new CAS journal. You've probably heard about the level of excellence it expects to reach, the quality of papers it hopes to publish, and the global implications it strives to have.  Continued...

Making the World a Better Place   —Charles L. McClenahan—There has been a great deal of discussion about other areas of the business world that could benefit from a casualty actuarial involvement: loan loss reserves for banks, for example, or pricing products on a risk-adjusted basis. While these are interesting possibilities, the end result would probably be higher interest rates on loans and increased prices for risky items (like McDonald's© coffee). How does that benefit society?   Continued...

You Are in the Risk Management Business   —John J. Kollar—As a pricing actuary, you attempt to come up with the best estimate of the losses and expenses that your company will have to pay on its portfolio of insurance policies. The more precisely you can measure those future costs, the less risk is involved in writing those policies, the less capital that is needed, and the greater opportunity for profit. From your own experience, you know that all of the parameters underlying the losses, and possibly even the premiums and policy provisions, are not known to you.  Continued...



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CAS President Paul Braithwaite (right) signs the mutual recognition agreement with Institute of Actuaries of Australia President Andrew Gale.

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