nottheaverageactuary

Actuarial news and views from Cape Town and beyond


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Reinsurers pay $100million for lost plane while claims from life insurance, travel insurance and lawsuits will reach hundreds of millions of dollars.

The hull and liability risk is ceded to the reinsurers Allianz and Lloyd’s, while written by a Malaysian insurer.

Lawsuits will occur in countries across the globe according to the Montreal Convention, one law firm has already moved on Malaysian airlines and Boeing in the US.

Since loss of life confirmed by the airlines, Life policies will be paid by respective insurers without death certificates.

Articles:

http://www.thesundaily.my/news/997933

http://www.themalaysianinsider.com/malaysia/article/insurers-to-share-cost-of-mh370-payout-says-report

http://www.independent.co.uk/news/world/asia/mh370-malaysia-airlines-could-be-liable-for-450-million-compensation-to-families-as-chinese-life-insurance-companies-start-to-pay-out-9219037.html

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State doctors: their real, everyday world

This article really hits the nail on the head, and is absolutely heart breaking. This is the reason we need more actuaries in healthcare – so that we can make a genuine difference to the health of the people in our country.


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UK to scrap compulsory annuities

below is a link from the guardian, something i just came across that might be interesting for not the average actuary.

england has decided to allow people to have complete control over their state pensions they will no longer be forced to purchase annuities but can takeout all their state pension and do as they please with it.

http://www.theguardian.com/uk-news/2014/mar/19/chancellor-scrap-compulsory-annuities-pension-overhaul

Tafadzwa


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Top Models

Have a look at True South’s publication on premium patterns as mentioned during today’s lecture: http://www.truesouth.co.za.

They also have a neat “in-house” group pricing model on their website, let me know your thoughts about it..

Example external models:

MoSes: http://www.towerswatson.com/en-GB/Services/Tools/moSes

Prophet: http://www.prophet-web.com