Morris Review

  • wikipedia.org/wiki/Morris_Review
    • The Morris Review was a government-sponsored independent review of the UK actuarial profession led by Sir Derek Morris in 2004–05. It was commissioned in March 2004, in the aftermath of the near collapse of Equitable Life, and the subsequent findings of Lord Penrose's Equitable Life Inquiry[1] The review found a number of problems with the actuarial profession, including insularity of approach, lack of transparency, failure to take account of developments in financial economics,[2] and the influence of 'entrenched commercial interests'.
  • 2004 12 - Report - Interim Assessment, Sir Derek Morris
  • 2005 03 - Final Report - Morris Review of the Actuarial Profession, UK - Sir Derek Morris - 168p
  • 2004 0909 - Letter - Institute of Actuaries and the Faculty of Actuaries - SUBMISSION BY THE ACTUARIAL PROFESSION: In Response to the Morris Reviews Initial Consultation Document of June 2004 - 70p
  • 2004 09 - CFAUK.org - Letter - Morris Review of the Actuarial Profession: Consultation Document,  by UK Society of Investment Professionals 
  • 2012 06 - SOA - The Morris Review of the UK Actuarial Profession: An explanation of what the Morris Review found and what it means to you., By Chris Daykin - 7p

AIDS - Acquired Immunodeficiency Syndrome

Guaranteed Maturity Premium Nonforfeiture Test

  • p412 - Enclosure 5 - Guaranteed Maturity Premium Nonforfeiture Test
    • The guaranteed maturity premium (GMP) test is a proposed method fur judging whether or not a universal life product provides guaranteed cash surrender values in excess of prescribed minimums.
    • The GMP test is concerned primarily with the pattern of policy loads and surrender charges. When used in conjunction with a prescribed smoothness of cash value criteria, the GMP test is effective in disqualifying policies with odd patterns of loads or those with high loads over a sustained number of years.
    • The guaranteed maturify premium is calculated as prescribed in the NAIC Universal Life Model Regulation. It is calculated without regard to any minimum premiums required by the company.

1988-2, NAIC Proceedings - Life and Health Actuarial (EX5) Task Force 

The Actuary

  • Sixteen Disturbing Elements
  • The Institute President’s Observation
    • Where there is Smoke there is Fire

1984 03 – SOA – The Actuary, act8403 – Society of Actuaries – 8p

  • As The Actuary celebrates its 30th birthday, David Raymont digs into the archives to acknowledge its predecessor Fiasco, which ran for 127 issues between February 1978 and June 1990

theactuary.com/issues/2020/12/december-2020

  • The go-ahead for Fiasco magazine was given in late 1977, 30 years after the previous attempt, Random Muse, had folded after 13 issues and 18 months – mainly due to a lack of contributions.
  • The Institute of Actuaries Students’ Society had long seen the need for a form of communication that went beyond formal contributions to papers at Institute and Society meetings – which not all UK members could attend, let alone international members. 

2020 1202 – The Actuary – Fiasco: An amateur joy, by David Raymont – theactuary.com/features/2020/12/02/fiasco-amateur-joy

1900-1940s - Actuarial - Snippets

--  Mr. Anderson - (p261)

1919 - The Record, American Institute of Actuaries - Individual Reserves in Life Insurance - [Educate Judges] - [PDF- 451p-GooglePlay]

  • The ... company is to determine for itself which of its plans are to be treated as term insurance and which as permanent.

    • The original instructions gave as a suggested definition of term insurance "that it is any policy with a premium rate less than 90% of the no profits rate for Ordinary Life...

1949 - SOA - Report of the Committee on Mortality Under Ordinary Insurances and Annuities, Society of Actuaries - 12p

Consumer Actuary

  • On behalf of the consumer representatives.
  • Some suggestions to make the advisory committees more relevant to the NAIC include:
    • NAIC could assist consumer groups with technical assistance on selected issues, e.g the concept of consumer actuary.

1993 0302 – Letter – Consumers Union to NAIC Subgroup to Study Advisory Committee Procedures and Protocols – (EX) – NAIC  —  [BonkNote – Subgroup] – Attachment 2 – 

Mary Griffin, Consumers Union, Insurance Counsel, Washington Office

Smoking

  • 1996 – LC- Towne v. Metropolitan Life Ins.
    • CV-96-37-SD 08/13/97
    • UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW HAMPSHIRE
    • 1997/08/13 – 1996-1997 – LC- Towne v. Metropolitan – Order – 11p
      • Agent – James Anctil

Unisex

  • 1984 – SOA – Unisex – An Update, rsa84v10n215 – Society of Actuaries – 14p
    • Moderator: DAPHNE D, BARTLETT. Panelists: THOMAS P. BLEAKNEY, BARBARA J. LAUTZENHEISER, ANTHONY T. SPANO. Recorder: MICHAEL F. DAVLIN