May 28: Elsewhere among actuaries

The first summer holiday. As my 8-year-old would say, “time to chillax.”

  • Standard and Poor’s is creating standards to review economic capital models. It is seeking comments and suggestions. It is making it as hard as possible to link to the underlying paperwork. So do as National Underwriter suggests: “The article is also available on S&P’s website, www.standardandpoors.com, under Ratings Resources, by clicking on Ratings Criteria and then Requests for Comment.” Good luck.
  • But S&P is confident that insurance losses from the oil spill will only sap earnings, not surplus. The press release is here (reg. req.), but S&P’s web site is opaque, so naturally the link to the actual report is dead for me. Maybe you’ll be luckier.
  • Delaware newspaper wants to see rate-change filings, but the state DoI says no.
  • Scotland’s Faculty of Actuaries, England’s Institute of Actuaries vote to merge.
  • I’m in New Jersey, so I naturally have a chip on my shoulder about the pejorative “Jersey driver!” – mainly because New York drivers are worse – here’s proof! Take the GMAC Insurance quiz here – I got 19 out of 20. And here’s a neat interactive graphic that lets you sort through results so you can see that New Jersey drivers are in the top 10 in four of the six categories of driving competence but in the bottom 10 in two.
  • I’m not big on puzzles, but I know many actuaries are. First I’ll note that puzzlemaster Martin Gardner has passed away. Next …….. well, I’ll steal the intro from kottke.org:

“I have two children. One is a boy born on a Tuesday. What is the probability I have two boys?

“The first thing you think is “What has Tuesday got to do with it?” Well, it has everything to do with it.”

The answer concludes this article. Enjoy.

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