The Black Death, caused by the bacterium Yersinia pestis, wiped out 30 to 50 percent of Europe’s population between 1347 and 1351 Now, South Africa has been placed on high alert for a potential plague infection. Mortality rates are estimated anywhere between 30% and 100% without treatment. Many estimates are towards the top end of this […]
In my ASSA convention presentation on systemic risk last week, I took pains to highlight the difference between real systemic risk and mere catastrophic claim risk or even concentration risk. In this post I will cover these and other cats, the place of reinsurance including “feelings” and why this is hyper relevant for captives. To […]
Some markets have banned sale of insurance alongside lending Another way to deal with the problem of competition in credit life is to simply not permit the sale of insurance at the same time as the loan. This means that more providers will have an opportunity to make the sale since the lender doesn’t have […]
There is a Mauritian insurer called Island Life. Best name ever for an insurance company. I firmly believe in anthropogenic climate change. I am not an expert, but my reading has convinced me of the seriousness of the issues, the overwhelming evidence that it is humans at fault. Having young children makes me seriously concerned […]
I had a discussion with a client recently about the virtues of ensuring data written into a data warehouse is rock solid and understood and well defined. My training and experience has given me high confidence that this is the right way forward for typical actuarial data. Here I’m talking in force policy data files, […]
This is a short addition to parts 1 and 2. The question as to whether the benefit payable under a credit life policy can or should include arrears payments. The purpose of a credit life policy is to protect the policyholder, the lender, and the policyholder’s estate (not necessarily in that order) against death, disability […]
In part 1 I discussed the implications of basing premiums on initial balance or declining balance for profitability and the threat of substitute policies. In this post I want to discuss substitute policies again, talk about cover for self-employed persons and definitions of waiting periods. What is a substitute policy Substitute policies are one of […]
A friend of mine found a 23rd floor in Australia.