Milliman insight from around the world

18 November 2020 - By Nicholas Johnson, Annie Hallum, Nick Gipe

What are some key insights into the calendar year 2021 dual eligible special needs plan landscape?

18 November 2020 - By Brian Colgan, David Kong, Halim Gunawan, Richard W. Holloway

Developments in the Indonesian life insurance industry during the period from 1 July 2020 to 30 September 2020.

18 November 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

Most major equity indices experienced material losses in October, as the rising number of COVID-19 cases forced some European governments to introduce new lockdown restrictions, while emerging markets outperformed their developed market counterparts.

18 November 2020 - By Milliman Employee Benefits Research Group

This Client Action Bulletin covers year-end compliance issues for single-employer retirement plans and nonqualified deferred compensation plans.

17 November 2020 - By Kristina Pizano, Haydee Scheel

Defined benefit plans should keep good participant address information on file as several notices are required to be mailed out regularly.

17 November 2020 - By John Paul Augeri, Mark Whatley

How will multinational companies find the right balance in their benefit programs to meet the needs of their employees and their business globally?

17 November 2020 - By Brian Z. Brown, Michael D. Price, Patricia A. Teufel, Steve Wilson

While improvements in governance and regulatory oversight over the last two decades have equipped audit committees with a greater understanding of what the risks are to reserves, there is little information available regarding how audit committee members should challenge actuaries and management to ensure that risks are being identified, clearly reported, and addressed.

17 November 2020 - By Donna Wix, Joanne E. Fontana

This paper uses calendar year 2018 Medicare Advantage administrative claim data for enrollees aged 65 and older enrolled in plans with embedded dental coverage to determine the types of dental services used and the dental per member per month costs, as well as to study correlations between medical and dental utilization.

17 November 2020 - By Eamonn Phelan, Fred Vosvenieks, Cormac Gleeson, Eóin Stack, Gavin Maher

What are some approaches to developing a robust suite of Key Risk Indicators and what are the wider considerations for risk reporting?

17 November 2020 - By Patrick Meghen, Eoin King, Eamonn Phelan

Patrick Meghen provides an update on changes in Solvency II-related requirements, Eoin King discusses the latest on ORSA, and Eamonn Phelan presents recent Milliman thought leadership on the design, calibration and reporting of effective key risk indicators.

17 November 2020 - By Mary Leong, Ryan Cook

During October 2020, average accounting discount rates increased by 12 bps, while annuity purchase rates increased by 6 bps (average) and 12 bps (competitive).

17 November 2020 - By Smitha Radhakrishna

The potential benefits of integrating artificial intelligence into our healthcare ecosystem and devices are numerous, including automation of tasks, analyses of patient data, and delivery of better healthcare.

16 November 2020 - By Chris Harner, Chris Beck, Blake Fleisher

To balance the time-sensitive nature of the M&A process with the need to protect against acquiring a breach and destroying value, firms need to employ an efficient and repeatable cyber risk analysis strategy.

16 November 2020 - By Dan Mulhern

What are the actual effects of deferred and foregone care on total spending for the commercially insured population?

13 November 2020 - By Catherine M. Murphy-Barron, Doug Norris, Daniel J. Perlman

As chief financial officers and actuaries attempt to determine the pandemic’s impact on year-end financial statements, this article describes five issues that require additional attention.

12 November 2020 - By Samuel Burgess, David Burston, Stuart Reynolds, Lyndsay Wrobel

This publication provides a summary of the Solvency II-based metrics that a sample of 20 companies in Europe are disclosing as at year-end 2019 and the associated explanatory information.

12 November 2020 - By Barbara Collier, Michelle Klein

This paper examines the evolution and future of preventative services—a key component of many health insurance plans.

11 November 2020 - By Alexandre Boumezoued, Amal Elfassihi, Cormac Gleeson, Andrew Kay, Orlaith Lehane , Bertrand Lespinasse, Damien Louvet

This paper presents a solution to address (re)insurers’ challenges, including how to determine the confidence level needed for disclosure purposes and how to restate a given confidence level over different time horizons.

11 November 2020 - By Milliman Employee Benefits Research Group

This Client Action Bulletin includes announcements by the Centers for Medicare and Medicaid Services for cost-of-living adjustments for 2021 Medicare Parts A and B, as well as for the Medicare Part D standard prescription drug benefits.

11 November 2020 - By Sheri Lee Scott

The 2020 wildfire season so far has offered no relief, with CAL FIRE reporting over four million acres burned calendar year to date, more than the two prior calendar years combined.

10 November 2020 - By Carol H. Steckel, Paul R. Houchens, Katherine Wentworth

Centers for Medicaid and Medicare Services has published a rule updating this interpretation, creating new compliance requirements for states in order to continue receiving the enhanced FMAP.

09 November 2020 - By Martijn van Rooijen, Maarten Ruissaard, Kendall Carolissen

This paper aims to provide a comparison of capital treatments for different asset classes with the focus limited to European commercial banks and life insurers.

09 November 2020 - By Neil Cantle, Dana-Marie Dick, Amy Nicholson

This paper provides a summary of the EIOPA consultation that builds on work started by the Bank of England, requiring firms to consider climate change risks in the Insurance Stress Test 2019 exercise and the 2021 biennial exploratory scenario on financial risks from climate change.

06 November 2020 - By Greg Callahan, Angela Reed

This paper explores performance guarantees best practices plan sponsors can leverage to hold their pharmacy benefit managers accountable for operational performance.

06 November 2020 - By Georges Abbey , Alex Bryant, Clement Bonnet, Jessica Crowson, Grzegorz Darkiewicz-Moniuszko, Paul Fulcher, Rikiya Ino, Ed Morgan, Freek Zandbergen, Sihong Zhu

This year’s asset liability management (ALM) Metrics Survey seeks to understand the current international practice in a variety of representative markets in terms of the approaches and the metrics used in ALM by global life insurers and discusses what might be considered best practices and how this might evolve in the future.

06 November 2020 - By Jason Fichtner

How annuity decisions are framed has a major impact on the decision to annuitize. This essay offers three ideas to help work within this dynamic.

06 November 2020 - By George A. Sandy Mackenzie

Both preretired and already retired households have always faced, in varying degrees of severity, five basic risks. This essay describes and analyzes each of the five risks in detail.

06 November 2020 - By Colin Devine, Ken Mungan

Americans entering retirement face a considerable level of risk from the triple threat of longevity, market volatility, and long-term care.

05 November 2020 - By Lalit Baveja, Samyukta Achar

This paper discusses the implementation and practical uses of wearables in the private medical insurance market.

05 November 2020 - By Maarten Ruissaard, Freek Zandbergen

This briefing note reviews the impact of lower interest rates on an alternative method that extrapolates long-term interest rates as part of Solvency II regulations.

05 November 2020 - By Zorast Wadia, Charles J. Clark

As discount rates rose in October, the funded ratio increased to 85.1%, as measured by the Milliman 100 Pension Funding Index.

05 November 2020 - By Milliman Employee Benefits Research Group

This Client Action Bulletin includes announcements released by the IRS and Social Security Administration for retirement plan benefits, as well as adjusted figures for high-deductible health plans and health savings accounts.

05 November 2020 - By Jonathan B. Glowacki, Judith-Anne Brelih

While unemployment rates, delinquency rates, and the percent of loans in forbearance have increased rapidly since the beginning of the coronavirus pandemic, the housing market has remained surprisingly resilient.

04 November 2020 - By David V. Williams, Jacob Bryniarski

Spurred on by COVID-19, mobile health has emerged as a promising technology that could have a material impact on addressing the Quadruple Aim of healthcare.

04 November 2020 - By Ian M. McCulla, Christopher T. Pettit, Colin R. Gray, Justin Chow

This report provides insight into the financial effects of the COVID-19 pandemic on Medicaid managed care organizations.

03 November 2020 - By Derek Newton, Marc Smillie , Ian Penfold

Our European analysis of the non-life market covers 884 companies from 15 countries which together comprise almost £350 billion of gross written premium and over £504 billion of gross non-life technical provisions.

03 November 2020 - By Smitha Radhakrishna

Digital health is expanding, and its power is especially relevant now during the COVID-19 pandemic.

03 November 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 241 bps as of the end of October 2020, down 12 basis points from the previous month, driven by an increase in long-term interest rates.

03 November 2020 - By Dominick Pizzano, Henrik Patel, Kenneth Barr

This article summarizes additional IRS guidance on nonqualified deferred compensation plans and focuses on other areas of executive compensation that should be examined in light of current conditions.

03 November 2020 - By Mary Leong, Ryan Cook

During September 2020, average accounting discount rates increased by 2 bps, while annuity purchase rates increased by 9 bps (on average) and 11 bps (competitive).

29 October 2020 - By Adam Barnhart, Julia M. Friedman, Peter T Kissinger

This paper provides insight into benefit and premium changes made alongside revenue changing due to a star rating change and measures the change in value added through benefits and premium changes provided to beneficiaries.

27 October 2020 - By Janet Jennings, Sheila Jelinek, Suzanne Norman

While it is too soon to quantify all the effects from the COVID-19 pandemic, this paper could help women become more aware of resources and solutions to help them and their loved ones be more financially secure.

27 October 2020 - By Aeron Riordon

Employers considering risk transfer activity should be aware of the risk of potential significant increases to pension cost if their auditor requires them to follow a new accounting approach.

27 October 2020 - By Eamonn Phelan, Gavin Maher

What are some important considerations for risk managers in the ever changing environment of the (re)insurance industry?

27 October 2020 - By Stephen R. DiCenso

On October 15, 2020, the District Court of Oklahoma issued its order of approval and implementation for the first ever Insurance Business Transfer, allowing for the innovation of insurance policies to an assuming insurer without policyholder consent.

23 October 2020 - By Dominick Pizzano, Sarah Murray

This alert speculates on possible increases in Federal Insurance Contributions Act tax and why there may be interest in the “early inclusion” option under Internal Revenue Code §3121(v) for sponsors of and participants in non-account balance (i.e., defined benefit) non-qualified deferred compensation plans, also commonly referred to as supplemental executive retirement plans or “Top-Hats.”

23 October 2020 - By David Evans, Cody Webb, Elias Braunstein, Jonathan B. Glowacki, Andrew Netter

This report provides estimates of the insured and uninsured flood exposure of single-family residences in the contiguous United States from both storm surge and inland flooding.

23 October 2020 - By Brian Colgan, Philip Jackson

23 October 2020 - By Amy Nicholson, Sihong Zhu

Climate change risk should be a key consideration in evidencing an insurer’s Prudent Person Principle compliance.

22 October 2020 - By Corey Swarner

Milliman provides additional administrative services for the defined benefit pension plans a long-time client sponsors.

22 October 2020 - By Brian Colgan, Philip Jackson

This e-Alert discusses the amendments to IFRS 17 in order to make results easier to explain and attempts to reduce accounting matches, their impact on insurers and likely impact on PSAK 74.

21 October 2020

During the months following the February 2020 market drawdown, bonds, commodities, and stocks have all had a remarkable run, leading many investors and advisors to contemplate both the prospect of asset bubbles and the portfolio implications of those bubbles bursting.

21 October 2020 - By Nancy P. Watkins, John W. Rollins

How are leading investors factoring market-level climate risk into decision-making?

21 October 2020 - By Brandy N. Millen, Amy Giese, Jason Karcher

This article provides concrete examples of how pharmacy benefit manager (PBM) fees/margin, rebates, and quality improvement activities should be considered for calculating the medical loss ratio under different PBM arrangements.

21 October 2020 - By Fernando Mesquida, Gabriela Dieguez, Jorge Torres, Romina Santoro, Lucila Antonucci, Carolina Artuso

Milliman used data from Mexico’s Ministry of Health to analyze the increase in the mortality rate produced by COVID-19 by gender, age, and the presence of comorbidities.

20 October 2020 - By Robert J. Pipich, Karin Cross, Deana Bell

This paper presents nine scenarios intended to illustrate a range of potential outcomes on 2021 Medicare Advantage and Part D risk scores.

20 October 2020 - By Andrew Bochner, Jennifer Carioto, Luis O. Maldonado Irizarry

How will COVID-19 affect a health plan’s medical loss ratio requirements in general and what are specific considerations for the commercial, Medicare Advantage, and Medicaid markets in 2020 and going forward?

19 October 2020 - By Brian Colgan, Philip Jackson

In this e-Alert, we discuss amendments introduced to reduce the costs of IFRS 17, their impact on insurers and the likely impact on financial accounting standards.

19 October 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

The British Pound lost 3.6% and 3.9% against the US Dollar and the Japanese Yen respectively, whilst weakening 1.7% against the Euro, as worries of a potential “Hard” Brexit increased the Pound’s volatility.

16 October 2020 - By Stacy Koron, Taylor McKinnon, Stephen Tabachnick

State Departments of Insurance have issued special rules, regulations, and guidance for insurers related to the COVID-19 pandemic. The scope of this report is limited to such information applicable to accident and health insurance only and focuses the impact that COVID-19 regulatory actions have on product administration.

16 October 2020 - By Adam Schenck, Jeff Greco, Joe Becker, Ram Kelkar

The market contraction at the onset of the coronavirus pandemic in Q1 2020 was the biggest test of risk-managed investment products since the 2008 financial crisis. This paper puts the downturn into historical context and examines how Milliman FRM's products performed.

15 October 2020

Markets continued their advance over the quarter as accommodative monetary policy proved to dampen the negative impact of the pandemic.

14 October 2020 - By Aatman Dattani, Zi Xiang Low, Zohair Motiwalla, Katherine Wang, Karthik Yadatore

This report analyzes, understands, and discusses the impact of the upcoming Principle-Based Reserving on non-variable deferred annuities.

14 October 2020 - By Eamonn Phelan, Fred Vosvenieks, Cormac Gleeson, Eóin Stack, Gavin Maher

This briefing note discusses how traditional emerging risk management frameworks may not fully capture the complexity of an emerging risk event and what lessons can be learned from COVID-19.

13 October 2020 - By Kevin Manning, Joanne Buckle, Lalit Baveja, Alison Counihan

Kevin Manning provided an update on COVID-19 looking at the impact on the Irish private health insurance market, and Joanne Buckle presented on the impact of data analytics on the value chain for both public and private heath payers.

13 October 2020 - By Pierre-Edouard Arrouy, Charles Boddele , Thomas Bulpitt, Grzegorz Darkiewicz-Moniuszko, Russell Ward, Freek Zandbergen, Sihong Zhu

IFRS 17 requires preparers of accounts to derive discount rates for the valuation of the cash flows associated with their insurance contracts.

13 October 2020 - By Safder Jaffer, Asad Irshad

Gross written premiums showed an overall increase, showing market resilience despite the COVID-19 pandemic.

09 October 2020

On average, October is the most volatile calendar month of the year for the stock market. This year's contentious election may help to reinforce that trend.

08 October 2020 - By Frederick (Fritz) Busch, Lindsy Kotecki, Jeffrey G. Milton-Hall

The COVID-19 Advanced Population Shift model is a tool to help understand the interconnected nature of economic changes and health insurance coverage and to project the effects on the U.S. health insurance markets.

08 October 2020 - By Safder Jaffer, Asad Irshad

The UAE insurance market continued its trend for a third consecutive year with an overall increase in their profitability along with a premium growth in 2019.

07 October 2020 - By Jeff Chalk

Over the past few weeks, there has been quite a bit of fanfare over changes in two of the most widely known benchmarks for the U.S. stock market.

07 October 2020 - By Nancy P. Watkins

Nancy Watkins speaks with Jim Albert about flood insurance’s coverage gap, the adversarial position of the insurance industry, the wind-water conflict in claims, and climate change.

07 October 2020 - By Zohair Motiwalla, Zi Xiang Low, Aatman Dattani, David South

In the third quarter of 2020, Milliman refreshed a survey that establishes currently held market practice in the application of “VM-21: Requirements for Principles-Based Reserves for Variable Annuities.”

07 October 2020 - By Rachin Aggarwal, Joanne Buckle

With the ongoing COVID-19 pandemic, it has become all the more important for insurers to manage their claims and expenses.

06 October 2020 - By Robert W. Beal, Daniel D. Skwire

How has COVID-19 affected individual disability income carriers’ new sales and claims to date and what can these companies expect going forward?

06 October 2020 - By Zorast Wadia, Charles J. Clark

In September, the funded status of the 100 largest corporate defined benefit pension plans decreased by $8 billion as measured by the Milliman 100 Pension Funding Index.

05 October 2020 - By Andrew H. Dalton, Gregory T. Zebolsky

This article discusses the impact that COVID-19 could have on actuarial assumptions relevant to continuing care retirement communities—specifically, mortality and morbidity—as well as other experience, including especially the number of noncontractual residents in assisted living unit and skilled nursing facility levels of care.

05 October 2020 - By Josh Dobiac, Freek Zandbergen

This report examines the new Alternative Methodology for yield curve construction under Solvency II.

05 October 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 253 bps as of the end of September 2020, up 4 basis points from the previous month, driven by a decrease in long-term interest rates.

02 October 2020 - By Jamie Shooks

How do the risks in fantasy sports align with the general traits of an insurable risk?

02 October 2020 - By William Vogan

Four of the industry pricing surveys measure the ratio of rates written to the latest quarter to rates expiring during the latest quarter.

02 October 2020 - By John Klodnicki

The insurance industry must adapt in order to function in a post-pandemic world and navigate the “new normal” of a work-from-home economy.

02 October 2020 - By Mariah Mateo Sarpong, Mebrahtu Brhan Gebre

A holistic approach to dealing with climate risks— one that includes but is not limited to insurance— is needed to help vulnerable communities become more resilient.

01 October 2020 - By Scott Chow, Clement Bonnet, Julian Man, Michael Daly

Calculated annually by Milliman, the Milliman Fulfillment Ratio Index covers Hong Kong insurance companies representing a significant market share as measured by in-force premiums (> 85% in 2019).

30 September 2020 - By Robert W. Beal, Tasha S. Khan

This report presents the results of Milliman’s 2020 Annual Survey of the U.S. Individual Disability Income Insurance Market.

30 September 2020 - By Andrew Netter

This article takes a closer look at the COVID-19 disruption’s impact on the GSE CRT market—including subsequent changes to new issuance deal structure, pricing, and capital markets versus reinsurance allocation.

30 September 2020 - By Neil Christy, Stuart Reynolds, Samuel Burgess

This report focuses on the solvency and financial condition reports published in 2020 which refer to year-end 2019.

30 September 2020 - By Carl A. Friedrich, Susan J. Saip, Allen J. Schmitz

Milliman conducted a long-term care hybrid product survey intended to capture the industry’s views of the unique environment and provide high-level current sales information and future outlooks.

29 September 2020 - By Alexandre Boumezoued, Jean-Philippe Boisseau

What does the world look like to a reserving actuary in 2060?

29 September 2020 - By Corey Swarner

How do you determine the “value” of an annuity in which future payments are promised for an individual’s lifetime?

29 September 2020 - By Tim Bernazza , Rebecca Connell

Milliman worked closely with a pension administration client to transition its 30,000-participant defined benefit plan to a novel solution that continued to offer ongoing benefit accruals to participants while maintaining cost-efficiency and contribution stability.

29 September 2020 - By Eric J Xu, Cody Webb, Molly Barth, Nancy P. Watkins

As the 2020 wildfire season exceeds historical norms, California insurers and policymakers are looking for durable solutions to extinguish the threat of a homeowners’ insurance crisis.

25 September 2020 - By Ashlee Mouton Borcan, Jennifer O’Brien Howard, Sean Mendes, Parth Patel

As the insurance industry transitions to being more customer-centric, implementing claims integration will likely become a must-have feature.

25 September 2020 - By Paul L. Correia

This survey provides a comprehensive analysis of new sales and inforce business for short-term disability and long-term disability insurance products in 2018 and 2019.

24 September 2020 - By Stephen P. Melek, Stoddard Davenport, Travis J. (T.J.) Gray

Telehealth visits may become part of the new “normal” for replacing, or at least supplementing, office visit-based treatment for behavioral health conditions.

23 September 2020 - By Judith-Anne Brelih, Jonathan B. Glowacki

Want to know the state by state effect of the pandemic on the housing market? Metrics and commentary analyze the relationship between COVID-19 and impact.

22 September 2020 - By Mary Leong, Ryan Cook

During August 2020, average accounting discount rates increased by 24 bps while annuity purchase rates increased by 20 bps.

21 September 2020

What are some of the risks related to ASOP 51 disclosures?

18 September 2020 - By Marcel Kruse , Dmitry Zamkovoy

De Benchmarkhervorming Transitie Monitor (BMR Transitie Monitor) is een maandelijkse publicatie van Milliman Pensioenen. Hierin staat het transitieschema van de benchmarkhervorming en eventuele wijzigingen in dit schema.

17 September 2020

On September 14, the Pension Benefit Guaranty Corporation released its 2019 FY Projections Report.

17 September 2020 - By Eric J Xu, John W. Rollins

Predicting whether insurtechs will seek closer connections among the players in the value chain, or a greater separation, requires consideration of factors that could cut both ways.

16 September 2020 - By Neil Christy, Stuart Reynolds, Samuel Burgess

Published in 2020, the Solvency and Financial Condition Reports provides information from year-end 2019.

16 September 2020 - By Bryan Wilson, Keith Young

It is especially important to review your terminated vested participation population every year and reach out to them to commence benefits if they are at or beyond normal retirement age.

16 September 2020 - By Neil Cantle, Nancy P. Watkins, Peter Kingsley of The Oracle Partnership

In this article, Milliman’s Neil Cantle and Nancy Watkins, along with The Oracle Partnership’s Peter Kingsley, discuss the role that actuaries and insurers can play in tackling climate change following the coronavirus crisis.

16 September 2020 - By Neil Cantle

Going forward, financial services firms must now evaluate the anticipated financial impact of climate change, and are expected to include considerations of climate change within risk management frameworks.

15 September 2020 - By Nate Gorst, Jonathan B. Glowacki

Now that we are several months into the COVID-19 pandemic, sufficient data exists to analyze its effects on the mortgage market and draw conclusions on the impact this disruption will have on the mortgage marketplace for the rest of 2020 and 2021.

15 September 2020 - By Nicholas Beihoff, Ryan Lindsay, Jonathan B. Glowacki

This article provides clarity on the Adverse Market Refinance Fee and its potential impact.

15 September 2020 - By Conor Callaghan , Rik van Beers, Kevin Manning

This briefing discusses regulations for pre-emptive recovery planning for (re)insurers, reinsurance as a capital management tool for life insurers and unit matching under Solvency II.

15 September 2020 - By Jill S. Herbold, Nicholas Johnson

This paper discusses some challenges faced, actions taken, and the impact that the COVID-19 pandemic may have on home and community-based services for years to come.

14 September 2020 - By Joe Becker

Four charts that provide historical context around the condition of the U.S. labor market.

14 September 2020 - By Marcel Kruse , Geert-Jan Kremer

Het nieuwe pensioenstelsel lost veel op, maar de gekozen rendementsverdeling tussen oude en jonge pensioendeelnemers kan voor de nodige teleurstelling zorgen.

14 September 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

Equity markets had a positive performance in August with all major indices making gains for the month as investors and market participants continued to show strong demand for risk assets.

14 September 2020 - By Milliman Employee Benefits Research Group

The Employee Benefit Security Administration of the Department of Labor published a final rule on the use of electronic media as a default to provide information to pension plans’ “covered individuals.”

11 September 2020 - By Richard C. Frese

The introduction of COVID-19 has had an almost immediate influence on insurance yet it may take a long time to fully realize the effects. What are strategies to make benchmarks valuable now and post-COVID-19?

11 September 2020 - By Raji Bhagavatula, Mark Goldburd, Manyi Luo , Jason L. Russ

For the second quarter of 2020, the property and casualty insurance industry published financials that show a decline in net premium, mainly attributable to COVID-19.

10 September 2020 - By Andrew B. Groth, Katherine A. Pipkorn

There are companies innovating in the student loan space, but significant opportunity remains for insurtechs and traditional insurance carriers to create a unique “win/win”: sustainable solutions that capture a portion of the $1.54 trillion student loan market, while also providing students with postgraduation financial stability—helping graduates achieve their future dreams.

10 September 2020

How does the life cycle of a pension plan affect the appropriate investment allocation for assets?

10 September 2020 - By Elizabeth Bart

As traditional auto insurers compete against each other for customers, they’re now also faced with new entrants into the auto insurance market race: car manufacturers.

10 September 2020 - By Susan Philip

The COVID-19 pandemic has dramatically increased the use of telehealth, so Milliman’s Susan Philip and Mei Kwong, executive director of the Center for Connected Health Policy, discuss what providers, payers, and patients should know about this virtual healthcare service.

09 September 2020 - By Zorast Wadia

In August, the funded status of the 100 largest corporate defined benefit pension plans increased by $93 billion as measured by the Milliman 100 Pension Funding Index.

08 September 2020 - By Noah Champagne, Andrew Yang

At the end of July, a bipartisan bill entitled "Value in HealthCare Act of 2020" was introduced to the U.S. House of Representatives proposing a number of significant changes to the Centers for Medicare and Medicaid Services Medicare Shared Savings Program and the Advanced Alternative Payment Model feature of the Medicare Access and CHIP Reauthorization Act of 2015.

08 September 2020 - By Sanket Kawatkar, Philip Jackson, Heerak Basu, Richard W. Holloway

This report presents the results and insights from a fresh survey of Indian life insurers, covering their participating business management and asset share calculation approaches.

08 September 2020 - By Paul M. Fedchak, Stacy Koron

Changing consumer preferences and technology are driving much of the need for innovation and, as the emergence of COVID-19 has shown, the most vulnerable parts of an industrial sector can be quickly be brought down by an unexpected event.

04 September 2020 - By Joanne Buckle, Peter Gregor

This paper examines the strategies and business models adopted by leading players in the international private medical insurance market as well as the key success factors and capabilities required to win and sustain profitable growth in a post-COVID-19 world.

03 September 2020 - By Christine M. Fleming, Travis J. Grulkowski

The unusual liabilities of black lung require actuarial and case reserving models that are truly unique.

02 September 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology) is estimated to be 249 bps as of the end of August 2020, down 25 basis points from the previous month, driven by an increase in long-term interest rates.

02 September 2020 - By Charles J. Clark, Ginny Boggs

The Department of Labor’s Employee Benefits Security Administration has published an interim final rule describing calculation methodology and model language to “obtain relief from liability” in the presentation of “Lifetime Income Illustrations” applicable to ERISA-covered defined contribution (individual account) plans, the intent of which is likely a regulatory safe harbor.

01 September 2020 - By Farzana Ismail, Chong Wen Ang, Chew Hou Ng

In Malaysia, most insurance and Takaful companies have already started their implementation phase of IFRS 17, but there continues to be ambiguity in interpreting several areas of the IFRS 17 standard.

26 August 2020 - By Stephanie Moench

Is it possible that an involuntary, partial social program could be established to provide long-term care coverage?

26 August 2020 - By Robert Eaton

This article explores in detail two methods of developing reduced benefit options: the future loss ratio neutral approach and the cash flow neutral approach.

26 August 2020 - By Fernando Mesquida, Romina Santoro, Lucila Antonucci, Carolina Artuso

En Milliman hemos decidido investigar la mortalidad producida en Colombia como consecuencia del COVID-19.

25 August 2020 - By Paul Sinnott, Michael Daly, Richard W. Holloway, Wing F. Wong, Chihong An, Wen Yee Lee, Stephen H. Conwill

This report compares and contrasts the various different approaches taken to embedded value reporting across Asian markets and insurers.

24 August 2020 - By Mary Leong, Ryan Cook

During July 2020, average accounting discount rates decreased by 37 bps, while annuity purchase rates decreased by 22 bps.

24 August 2020 - By Paul Fulcher, Russell Ward

A panel of senior investment professionals joined Milliman in late July to share thoughts on the economic implications of COVID-19.

24 August 2020 - By Dominic Clark

In the face of economic instability due to the COVID-19 pandemic, institutional investors would be wise to consider sovereign risk carefully, even where not explicitly mandated to do so by regulation.

24 August 2020 - By Michael Paczolt, Jill Rosenblum

Claim analytics using artificial intelligence represents a proven method to reduce claim severity and improve the efficiency of claim-handling resources.

21 August 2020 - By Milliman Employee Benefits Research Group

The Internal Revenue Service published Notice 2020-61, providing technical guidance on the special rules relating to funding of single-employer defined benefit pension plans and related benefit restrictions under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

20 August 2020

What is the purpose of an experience study and what benefits does it provide the plan?

19 August 2020 - By Rachel Seale, Billy Onion

The combination of coverage unavailability and future uncertainty prompts companies to look for solutions in captive formations.

19 August 2020 - By Grzegorz Darkiewicz-Moniuszko, Ed Morgan, Michal Bobrowski, Aldo Balestreri

How are joint interest rate and credit risk for risk-neutral valuation typically offered by providers of economic scenario generators?

19 August 2020 - By Heerak Basu, Philip Jackson, Sanket Kawatkar, Richard W. Holloway

What are the most recent developments in the life insurance market in Bangladesh?

13 August 2020 - By Derek Newton, Ian Penfold

This report summarises the fourth annual set of Solvency and Financial Condition Reports as they relate to non-life insurers regulated in the UK or Gibraltar and sets out the results of the analyses of these reports.

12 August 2020 - By Peter H. Sun, Chunpu Song, Victor Huang, Ram Kelkar

This paper examines the hedge effectiveness of a wide range of Variable Annuity carriers.

12 August 2020 - By Susan J. Forray, Chad C. Karls, Joe Mawhinney

Defense attorneys have gradually become comfortable with virtual depositions, and our analysis indicates they are soon likely to proceed with depositions over virtual platforms that are lengthier and more complex than the virtual depositions conducted to date.

11 August 2020 - By David Koenig, Robert J. Pipich, Michael J. Polakowski

Medicare Advantage organizations face unique challenges during the COVID-19 pandemic.

10 August 2020 - By Zorast Wadia, Charles J. Clark

In July, the funded status of the 100 largest corporate defined benefit pension plans decreased by $68 billion as measured by the Milliman 100 Pension Funding Index.

10 August 2020 - By Nina M. Lantz, Rex Barker, Timothy L. Connor, William Wade

An interim update to our annual study highlights 2020 volatility in funding levels.

07 August 2020 - By Rajish K. Sagoenie, Marcel Kruse

Maandelijkse publicatie van Milliman met een overzicht van de ontwikkelingen op de markten die relevant zijn voor pensioenfondsen.

05 August 2020 - By Radhika Philip

One way higher education institutions are responding to financial challenges caused by the COVID-19 pandemic is to rethink their staffing models and reduce faculty and staff costs.

05 August 2020 - By Fernando Mesquida, Hector Gueler, Ariel Hojman

What effect will the COVID-19 pandemic have on the life insurance industry in Latin America?

05 August 2020 - By Paul M. Fedchak, Ian Laverty, Uri Sobel

The new framework outlined in Chapter 20 of the Valuation Manual will likely lead to some fundamental changes in the products available in the market.

04 August 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block is estimated to be 274 bps as of the end of July 2020, up 5 basis points from the previous month, driven by a decrease in long-term interest rates.

04 August 2020 - By Nicole Gaspar, Alyssa Lu, Juliet M. Spector

This article discusses modeling and the information that companies can glean from a first principles approach.

04 August 2020 - By Robert D. Bachler, Nicholas Johnson, Brian Reed, Mike Hamachek

This paper summarizes the findings from Milliman’s 2020 stop-loss survey.

04 August 2020 - By Judith-Anne Brelih, Jonathan B. Glowacki

COVID-19 continues to create economic uncertainty, putting pressure on mortgage performance in 2020 Q1 though mortgage losses are not expected to be as severe as during the global financial crisis.

03 August 2020 - By Ian Penfold, Sophie Smyth , George Barrett

In this paper, we discuss how insurers can explore their future exposures to the novel coronavirus through their ORSA.

03 August 2020 - By Stoddard Davenport, Matt Caverly, Katie Matthews

The economic costs (both direct and indirect) of nonmedical opioid use are substantial to U.S. employers, not only due to lost productivity, but also due to increased healthcare expenditures, greater costs for workers’ compensation and disability claims, and difficulty meeting recruitment or production targets in regions that experience shortages of workers.

03 August 2020 - By Clement Bonnet, Brian Colgan, Michael Daly, Sharon Huang, Farzana Ismail, Philip Jackson, Sung Hoon Kim, David Kong, Wen Yee Lee, Atsushi Okawa, Wing F. Wong

This report compares and contrasts life insurance risk-based capital regimes across selected Asian markets, highlights some of the potential implications for businesses arising from the future development of capital regulations and contributes to the wider discussion on the potential impact of changes in regulation on the life insurance industry in Asia.

03 August 2020 - By Scott McEachern, Patrick Cambel

For plan sponsors, being able to pinpoint changes and areas for improvement within the pharmacy benefit manager contract can significantly reduce pharmacy program costs without having to change members’ benefits.

31 July 2020 - By David Koenig, Emily Vandermause, Rebecca Gergen

With 2022 just around the corner, it is important that Medicare Advantage organizations understand the expected impact of the Encounter Data Processing System as the single source of diagnoses for calculating risk scores and the impact this transition may have on their revenue.

30 July 2020

What are some options for amortizing unfunded liability?

30 July 2020 - By Mary Leong, Ryan Cook

During June 2020, average accounting discount rates decreased by 11 bps while annuity purchase rates decreased by 18 bps.

29 July 2020 - By David Byron, Chris Smith

This paper explores Qualifying Advanced APM Participant status criteria and the actions accountable care organizations can take to ensure they continue to qualify for the 5% bonus, even during a pandemic.

28 July 2020 - By Dominick Pizzano, Henrik Patel, Kenneth Barr

What are some executive compensation issues that should be examined during these turbulent times?

28 July 2020 - By Rachin Aggarwal, Joanne Buckle

This paper discusses the common definitions of medical inflation, factors driving medical inflation in the short and long term and current medical inflation trends in India.

27 July 2020 - By Amy Nicholson, Sophie Smyth

The Climate Financial Risk Forum have produced a guide to help firms understand the risks that arise from climate change and to provide support on how to integrate these risks into strategy and decision-making processes.

27 July 2020 - By Matthias Kullowatz

This report analyzes more than 3 million policies issued by eight variable annuity writers from 2003 through the first quarter of 2019.

23 July 2020 - By Radhika Philip

How can organizations approach layoffs in ways that mitigate risks to employee engagement and performance?

23 July 2020 - By Ashlee Mouton Borcan

Data is a key component when you are attempting to identify opportunities and quantify the impact of innovative ideas.

23 July 2020 - By Barbara Culley, Penny Edlund, Maureen Tressel Lewis

This paper provides information about the pursuit of quality accreditation as an essential investment that can have a positive impact on multiple health plan priorities, including quality of care, member satisfaction, and market viability.

23 July 2020 - By Una Bearden, Alicia Favila

What are some considerations, benefits, and possible pitfalls of retirement planning tools?

21 July 2020 - By Raji Bhagavatula, Mark Goldburd, Jason L. Russ

It’s important to consider the impact of potential legacy losses not only in the context of establishing an appropriate reserve, but to form a view of the load for mass torts needed to price current policy years.

20 July 2020 - By Sinéad Clarke, Andrew Kay, Fred Vosvenieks

Sinead Clarke provides a regulatory and market update, Andrew Kay gives an overview of the latest IFRS 17 developments, and Fred Vosvenieks discusses operational resilience for insurers.

17 July 2020 - By Chris Harner, Michael C. Schmitz

The ramifications of COVID-19 on the mortgage credit risk market are still being assessed, but mortgage defaults are not expected to be as severe as during the global financial crisis, Milliman’s Mike Schmitz and Chris Harner discuss.

15 July 2020 - By Claire Booth, Amy Nicholson, Natasha Singhal

This paper covers the increasing popularity of environmental, social and governance (ESG) investments, how ESG investments are selected, risk and strategy considerations for insurers, the influence of ESG factors on product design for both long-term insurance products and health and care products, and ESG disclosure requirements.

15 July 2020 - By Paul Fulcher, Sihong Zhu, Samuel Burgess

This article reviews the Solvency and Financial Condition Reports recently published by major life insurers in the United Kingdom to examine the disclosures made on the impact of COVID-19.

15 July 2020 - By Pang-Hsiang Chye, Ken Lim

Developments in Thailand non-life insurance for the period from 1 January 2020 to 30 June 2020.

14 July 2020 - By Bruce S. Pyenson

Emerging data from around the world suggest that nursing home residents are at exceptionally high risk for contracting COVID-19.

13 July 2020 - By Karthik Yadatore, Abby Camp

Registered Indexed Universal Life could be attractive to consumers seeking cash accumulation universal life and Indexed Universal Life products and who have a greater risk appetite and longer investment horizon.

13 July 2020 - By Zorast Wadia, Charles J. Clark

In June, the funded status of the 100 largest corporate defined benefit plans decreased by $6 billion as measured by the Milliman 100 Pension Funding Index.

10 July 2020 - By Rebecca A. Sielman

The estimated funded status of the 100 largest U.S. public pension plans as measured by the Milliman 100 Public Pension Funding Index rebounded from 66.0% at the end of March 2020 to 71.2% at the end of June 2020.

09 July 2020 - By Neil Christy, Emma Hutchinson, Amy Nicholson, Sihong Zhu

This paper summarises the key feedback from the Prudential Regulation Authority to general and life insurers following their participation in the Insurance Stress Test 2019 exercise and the more recent COVID-19 specific stress test exercise, and discusses the potential implications this feedback could have for life insurers in the United Kingdom in 2020 and beyond.

08 July 2020 - By Rajish K. Sagoenie, Marcel Kruse

Maandelijkse publicatie van Milliman met een overzicht van de ontwikkelingen op de markten die relevant zijn voor pensioenfondsen.

08 July 2020 - By Neil Cantle

What is the value of risk registers and why might we need to reconsider how we use them in the future?

07 July 2020 - By Quincy Hsieh

This article shows our software development experience and test benchmark on Microsoft Azure Storage Account to optimise the disk IO of the API on the cloud.

07 July 2020 - By Eamon Comerford, Paul Fulcher, Rik van Beers, Rosemary Maher

This research paper explores a range of reinsurance strategies that could be utilised by life insurers for capital management purposes.

06 July 2020 - By Ryan Ellsworth

A client enlists Milliman’s help to perform a comprehensive review of their existing retirement program.

06 July 2020 - By David Bahlinger, Paul M. Fedchak, William G. Mehilos

Milliman received responses from 30 carriers for the follow-up Milli-Byte Survey of Life Insurance Product Management and the COVID-19 pandemic.

06 July 2020 - By Eliott Pradat , Hinarii Pichevin, Fabrice Taillieu, Jean-Philippe Boisseau

The experience of COVID-19 will probably trigger a new system for covering operating losses in the event of a health crisis.

02 July 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 269 bps as of the end of June 2020, up 10 basis points from the previous month, driven by a decrease in long-term interest rates.

02 July 2020 - By Jeremy D. Palmer, Christopher T. Pettit, Ian M. McCulla

This report summarizes the calendar year 2019 experience for selected financial metrics of organizations reporting Medicaid experience under the Title XIX Medicaid line of business on the National Association of Insurance Commissioners annual statement.

01 July 2020 - By Casey B. Baldwin, John Rowland

This article provides an overview of the benefit suspension process, identifies considerations for trustees and plan professionals, and shares the lessons learned from previous applications.

01 July 2020

How can I have a plan that provides a sustainable level of benefits?

01 July 2020 - By Kendall Carolissen, Judith Houtepen

This article describes the application of two methods for the detection of potential fraudulent claims in healthcare provider invoices.

01 July 2020 - By Andrew B. Groth

Widespread implementation of autonomous vehicles could be realized within the next decade, and even though there will be fewer driver-induced accidents and truck driver fatalities, that doesn’t mean there won’t be a need for auto liability insurance.

29 June 2020 - By Eamonn Phelan, Joseph Sloan

Milliman consultants discuss recovery and planning for insurers and actuarial models.

29 June 2020 - By Dane Hansen, Andrew Bochner, Emily DeAngelis

This paper examines the reported impact of COVID-19 on preliminary rate filings among six states and D.C. that have been publicly released as of June 15, 2020.

26 June 2020 - By Stacy Koron

Because insurance regulation moves slowly and innovation moves fast, a more flexible framework is needed for insurers to rapidly bring innovative products and services to market.

26 June 2020 - By Emma Hutchinson, Fred Vosvenieks, Paul Fulcher

Solvency II matching is no longer just a theoretical concept but rather a common strategy used by UK insurers with material blocks of unit-linked business to help improve liquidity and balance sheet stability, and better manage market risks.

26 June 2020 - By Jennifer Bolton

For the first time in two decades, Milliman planned to transition to new benefit carriers, including a new medical plan administrator and prescription drug provider.

25 June 2020 - By Manikant Prasad

This paper tries to solve the problem where a system or application, built over R, can communicate to a database with massive data volume, residing on a remote system, to retrieve only the chunks of data needed for current analysis to gain scalability and speed by leveraging the data management and querying speed of the databases.

23 June 2020 - By Mary Leong, Ryan Cook

During May 2020, average accounting discount rates decreased by 27 bps, while annuity purchase rates decreased by 10 bps.

22 June 2020 - By Floriane Moy

In a rapidly changing work environment, this article provides an overview of the analytics challenges in the insurance industry.

22 June 2020 - By Susan J. Forray, Chad C. Karls, Joe Mawhinney

Prior to March 15, defense attorneys attended about 47 depositions weekly for every 1000 open claims, but in the second half of March, this decreased to about nine per week.

18 June 2020 - By David Evans

Despite the uncertainty of the moment, the observations from the 2020 Northwest Benefits Survey help clarify some trends that will likely have relevance in the future.

15 June 2020 - By Susan J. Forray, Eric P. Krafcheck, Richard F. Riley, Jr.

Beginning in late March, shortly after stay-at-home orders were widely imposed nationwide due to the COVID-19 pandemic, many insurers began voluntarily paying partial premium refunds to personal auto policyholders.

15 June 2020 - By Susan J. Forray, Chad C. Karls

The year 2019 marked a turning point for the medical professional liability industry.

12 June 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

Equity markets continued their positive run in May as they made gains for the second month in a row.

11 June 2020 - By Esther Peterson

This article summarizes the components that feed into IRS minimum required contributions and addresses some questions that employers may have.

11 June 2020 - By Stephen R. DiCenso

Even before the coronavirus, obstacles existed that slowed the uptake of insurtech solutions that targeted the reduction of customers’ losses.

11 June 2020 - By Rebecca A. Sielman

The estimated funding status of the 100 largest U.S. public pensions as measured by the Milliman 100 Public Pension Funding Index improved to 71.3%, up from 69.8% at the end of April 2020, and a significant recovery from 66.0% at the end of March 2020.

10 June 2020 - By Pamela M. Pelizzari, Stoddard Davenport, Carol Bazell

What are the challenges of interpreting data, reports, and media coverage surrounding the COVID-19 pandemic?

10 June 2020 - By Zorast Wadia

The COVID-19 pandemic has created economic uncertainty, and this article offers helpful guidelines for corporate pension plan sponsors based on past experience and the market data already in the books through the first quarter of 2020.

09 June 2020 - By Sean Silva, Eric Walters

On April 28, 2020, the Departments of Labor and Treasury and the Internal Revenue Service jointly issued guidance extending certain deadlines related to COBRA continuation coverage.

08 June 2020 - By Paul Fulcher, Sihong Zhu

The Solvency II Prudent Person Principle, Article 132 of the Directive, sets out rules and principles to be followed by (re-)insurers when carrying out asset investment activities.

08 June 2020 - By Stephen George, Joel Brill

In view of the COVID-19 pandemic, this paper examines why, when, and how vaccines are used; highlights the vaccine development pathway; reviews previous experience with viral pandemics; and assesses ways payers can address COVID-19.

08 June 2020 - By Zorast Wadia, Charles J. Clark

In May, the funded status of the 100 largest corporate defined benefit pension plans worsened by $17 billion as measured by the Milliman 100 Pension Funding Index.

05 June 2020 - By Bruce S. Pyenson, Jim Mulshine

Artificial intelligence along with low-dose CT scans hold promise for the early detection of lung cancer, but there are challenges that come with scaling up this new technology.

04 June 2020 - By Donal McGinley, Bridget MacDonnell, Eamon Comerford

This briefing note gives a high-level overview of how insurers can make better use of internal data to gain insight and drive competitive advantage.

03 June 2020 - By William Wade

What are the potential penalties if a multiemployer pension plan reaches the end of its funding improvement plan or rehabilitation plan period and falls short of the goals?

03 June 2020 - By Joy A. Schwartzman

COVID-19-related costs as a percentage of surplus by company will cover a broad range, depending on the business written, policy terms, reinsurance in place, and leverage of premium to surplus, among other factors.

02 June 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology) is estimated to be 259 bps as of the end of May 2020, down 12 basis points from the previous month, driven by an increase in long-term interest rates.

02 June 2020 - By Robert L. Schmidt, Eric Walters

Each year, Milliman produces estimates of retiree health costs that are updated each year.

02 June 2020 - By Dominick Pizzano, Henrik Patel, Kenneth Barr

This article examines how nonqualified deferred compensation plan (NDCP) sponsors can navigate the rules to ensure their NDCP comply with Code Section 409A with respect to changes in the form of payment elections.

01 June 2020 - By Lukas Snyder, David Mike, Luke Metz, Matthew Hayes, Derek Cole

This paper explores the impact of the Part D Senior Savings Model on patient out-of-pocket costs.

01 June 2020 - By Abhishek Agrawal, Rachin Aggarwal, Jorge Torres, Bridget MacDonnell

What are some innovative healthcare technologies that can be harnessed directly by health insurers in different parts of the world?

29 May 2020 - By Dominik Sznajder, Matthew McIlvanna, Freek Zandbergen

This briefing note summarises the new design of the Volatility Adjustment (VA) and presents an impact analysis on the effectiveness of the VA under this approach.

28 May 2020 - By Brian Colgan, David Kong, Halim Gunawan, Richard W. Holloway

Developments in the Indonesian life insurance industry for the period 1 January 2020 to 31 March 2020

26 May 2020 - By David Bahlinger

Research into the behavioral economics, marketing, and psychology of insurance products is business-critical for insurers.

26 May 2020 - By Claire Booth, Neil Cantle, Dana-Marie Dick, Ian Penfold, Natasha Singhal, Vidyut Vardhan

What metrics are most useful to insurance companies when considering the risks and impacts of climate change?

26 May 2020 - By Susan J. Saip, Carl A. Friedrich

In 2019, Milliman conducted its 13th annual comprehensive survey aimed at addressing universal life and indexed universal life issues to provide carriers with competitive benchmarking to evaluate where they stand relative to their peers.

22 May 2020 - By Grant Camp, Aaron Shapiro

This alert focuses on the multiemployer provisions in Division D of the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act.

21 May 2020 - By Deana Bell, Karen Nixon

How could prescription drug rebates at the Point of Sale affect the customer?

21 May 2020 - By Christopher S. Girod, Paul R. Houchens, David M. Liner, Andrew L. Naugle, Doug Norris, Scott A. Weltz

In 2020, the cost of healthcare for a hypothetical American family of four covered by an average employer-sponsored preferred provider organization plan is $28,653, according to the Milliman Medical Index.

19 May 2020 - By Sheila Jelinek, Suzanne Norman, Michelle Richter

By increasing the number of female advisors, a greater number of clients can benefit from the unique perspectives and life experiences women bring to help people navigate critical financial decisions.

19 May 2020 - By Cory Gusland, Anders Larson, Brian A. Sweatman

For any given provider organization, the impact of COVID-19 on its value-based contracts will depend largely on certain actuarial, legal, and strategic aspects of each agreement.

18 May 2020 - By Stephen R. DiCenso

The P&C insurance industry would benefit from more direct collaboration and communication with its customers.

18 May 2020 - By Thomas Peplow

This article offers a software engineer’s perspective on keeping pace with both the actuarial and software industries.

18 May 2020 - By Mary Leong, Ryan Cook

During April 2020, average accounting discount rates decreased by 56 bps, while annuity purchase rates decreased by 51 bps.

18 May 2020 - By Claire Booth, Neil Christy, Emma Hutchinson

The year 2019 and the first quarter of 2020 have seen a range of new issues and trends across the unit-linked market.

15 May 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

After a turbulent March, equity markets had a strong performance in April.

15 May 2020 - By Ryan Rowland

This brief outlines several ideas for employers to consider in connection with their defined benefit pension plans as well as caveats to be aware of as you evaluate your organization’s staffing needs during the COVID-19 crisis.

15 May 2020 - By Jennifer Bolton, Julie Bentz

In the midst of the COVID-19 crisis, there are even more challenges to communicating about benefits.

15 May 2020 - By Patricia L. Renzi

Pat Renzi discusses the impact of COVID-19 on the life insurance industry and its digital transformation.

15 May 2020 - By Eoin O'Baoighill, Mike Claffey

Based on our analysis of road traffic data, there has been a 70% drop in vehicle volumes since this time last year.

15 May 2020 - By Michael C. Schmitz, Jonathan B. Glowacki, Andrew Netter

This paper discusses COVID-19’s impact on the credit risk transfer market and reflects on the use of capital markets executions and reinsurance executions to meet government-sponsored enterprises’ goals.

15 May 2020 - By Zorast Wadia, Charles J. Clark

In April, the funded status of the 100 largest corporate defined benefit pension plans worsened by $58 billion as measured by the Milliman 100 Pension Funding Index.

14 May 2020 - By Greg Callahan, Janus Desquitado

Auditing the administration of the pharmaceutical manufacturer rebate program, including dollars paid, is a proven strategy for improving plan sponsor profitability, prescription drug affordability, and the management of pharmacy benefit manager contracts.

14 May 2020 - By Rémi Bellina, Cedric Mea, Floriane Moy, Alexandre Boumezoued, Amal Elfassihi, Eve Titon

This paper explores the potential and the challenge of using BERT, a Natural Language Processing framework, to automate the task of gathering input information and assisting experts for COVID-19 studies.

14 May 2020 - By Dominic Clark, Jeremy Kent, Ed Morgan

This white paper considers the potential impact of International Financial Reporting Standard 17 on insurance product design and pricing in the European markets and contrasts the expected impact on a range of life insurance products.

13 May 2020 - By John Donohue, Thomas M. Carrabine

This article provides an overview of the distribution process and why now may be a good time for trustees to consider moving the defined contribution plans to a daily valued environment.

13 May 2020 - By Radhika Philip, Danny L. Quant

This article focuses on three critical key talent topics in due diligence: assessing contractual obligations, identifying key high-performing talent, and designing retention and termination packages.

13 May 2020 - By Alexandre Boumezoued

The analysis of cohort effects has long fascinated the actuarial community.

13 May 2020 - By Rebecca A. Sielman

The estimated funded status of the 100 largest U.S. public pension plans as measured by the Milliman 100 Public Pension Funding Index now stands at 69.8%, a far cry from the heady 74.9% at the end of December 2019, but a significant improvement from 66.0% at the end of March.

12 May 2020 - By Kristina Moorhead, Jill S. Herbold, Ben Mori, Mary Pat Stemnock, Katherine Wentworth

The COVID-19 pandemic presents unique challenges for Medicaid Home and Community-Based Services program participants.

12 May 2020 - By Lauren Busey

COVID-19 poses challenges for healthcare providers who are managing complex issues around benefits and compensation policies to best support their employees during these hazardous times.

11 May 2020 - By Sinéad Clarke, Eóin Stack

This briefing note explores the potential impact of the COVID-19 pandemic on Ireland’s insurance industry and how regulatory authorities have responded.

11 May 2020 - By Joanne E. Fontana, Annie Hallum, Catherine E Lewis

This paper outlines the options for Medicaid dental delivery systems, their current usage, and considerations for each option.

11 May 2020 - By Susan J. Forray, Chad C. Karls, Joe Mawhinney

The liability insurance industry experienced a widespread delay in litigation stemming from court closures as stay-at-home orders were implemented in March due to the COVID-19 pandemic.

11 May 2020 - By Joel E. Stewart, Yutaro Seki

This Multiemployer Alert provides a summary of past multiemployer pension funding relief and recent proposals.

11 May 2020 - By Charles J. Clark, Ginny Boggs

The CARES Act has sweeping implications for both defined benefit and defined contribution retirement plans in the U.S., as Milliman’s Charles Clark and Ginny Boggs discuss on this episode of Critical Point.

08 May 2020 - By Brian A. Sweatman, Shyam Kolli

This paper summarizes a few direct contracting strategies observed in the marketplace and identifies key areas for considerations as employers evaluate these options.

07 May 2020 - By Michael C. Meehan

The onset of the COVID-19 pandemic has forced risk managers to throw their plans out the window and rethink how to manage their exposures.

07 May 2020 - By Alexandre Boumezoued

This white paper proposes two alternative and complementary views to the EIOPA’s final technical set of advice on the mortality and longevity shock calibration: a prospective approach in the spirit of one-year calculations and a retrospective analysis based on historical data from corrected mortality tables.

07 May 2020

What else can I do to minimize the impact of the market downturn on my contributions?

07 May 2020 - By Daniel J. Perlman

The Transparency in Coverage proposed rule is a reaction to the current opacity of healthcare pricing to most people.

06 May 2020 - By Tony F. Bloemer, Timothy C. Vosicky, Matthew Murray

This white paper is a compilation of key findings from Milliman’s workers’ compensation database.

06 May 2020 - By Christine M. Fleming, Travis J. Grulkowski

Black lung disease presents a significant, long-term liability exposure for coal companies, risk pools, and governments, as Milliman consultants Christine Fleming and Travis Grulkowski discuss in this episode of Critical Point.

05 May 2020 - By Robert Eaton

The 2019 Long-Term Care (LTC) Medical Symposium was a one-day conference that extracted the thinking of leading experts on historical and future trends that will influence LTC insurance claims expectations.

05 May 2020 - By Jeffrey G. Milton-Hall, Thomas D. Murawski, Doug Norris

As knowledge around COVID-19 continues to evolve, much of the industry focus has been on this year’s costs, but this volatile and uncertain environment also presents an extraordinary challenge for health plans developing rates for 2021 commercial coverage.

05 May 2020 - By Carl X. Ashenbrenner, Darren L. Sveom

What is the potential impact that COVID-19 may have on medical professional liability and workers’ compensation claims within long-term care providers?

05 May 2020 - By Matthew D. Timm, Michelle Klein

One innovation that is driving enrollment growth for some Medicare Advantage organizations is the $0 member premium PPO.

04 May 2020 - By Job Prince, Freek Zandbergen

This briefing note summarizes the alternative method to extrapolate long-term interest rates and presents the impact on hedging strategies and an analysis of the main dynamics in comparison to the use of the Smith-Wilson methods and an approach without an Ultimate Forward Rate.

04 May 2020 - By Mohamed Benkhalfa

Due to the COVID-19 pandemic, trade credit insurance is being affected adversely on both premiums and claims.

04 May 2020 - By Les Kartchner, Troy J. Pritchett

In a system that ties healthcare coverage so tightly to employment, the implications of so many people losing their healthcare coverage are deadly serious in a pandemic.

01 May 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 271 bps as of the end of April 2020, up 3 basis points from the previous month, driven by a decrease in long-term interest rates.

01 May 2020 - By Judith-Anne Brelih, Jonathan B. Glowacki

Quarterly publication will evaluate default risk of U.S. mortgages delivered to Freddie Mac, Fannie Mae, and Ginnie Mae.

30 April 2020 - By Stephanie Peterson, Robert L. Schmidt, Ryan Hart

Health and group benefits news and developments in the United States.

30 April 2020 - By David Bahlinger, Paul M. Fedchak, Ian Laverty, William G. Mehilos

This survey examines how life insurance carriers are currently reacting to the COVID-19 pandemic.

30 April 2020 - By Ladd E. Preppernau

Retirement planning is a long-term undertaking, and the consequences of rules and actions may not be known until years, or even decades, after they are implemented.

30 April 2020 - By Ladd E. Preppernau, Grant Camp

A strong understanding of the historical regulatory perspective can serve to inform the discussion on future regulatory changes designed to improve the long-term health of multiemployer pension plans.

30 April 2020 - By Luke B.G. Roth , Ben Mori, James Pettersson, Joseph Whitley, Carol H. Steckel

While large for-profit healthcare provider entities with existing capital reserves or greater access to capital markets may be able to weather the financial strain caused by the COVID-19 pandemic, other small, rural, or safety net provider entities may require additional support to keep their doors open.

29 April 2020 - By Bret Linton, Vicki Mazzie, Vanessa M. Vaag

The Coronavirus Aid, Relief, and Economic Security Act permits a “qualified individual” to certify to the employer that they qualify to elect a coronavirus-related distribution.

29 April 2020 - By Les Kartchner, Sam Bertoch

Contributions charged to employees and retirees are an important aspect of an employer’s health and welfare benefit strategy.

29 April 2020 - By Ken Qian, Ben Johnson, Jenny Jin

This report discusses findings from Milliman’s research on predicting lapse and mortality rates for 10-year and 15-year premium term insurance products from the Milliman Industry Study and Analysis data set.

29 April 2020 - By Tony Dardis, Chloe Lau, Ariel Weis

At the heart of effective risk management is the ability to manage the tail events, and the COVID-19 pandemic is raising some quite profound questions for risk practitioners in the life insurance industry, as Milliman consultants discuss for this episode of Critical Point.

28 April 2020 - By Zorast Wadia, Alan H. Perry, Charles J. Clark

Despite a drop of 94 basis points in discount rates, the private single-employer defined benefit plans of the Milliman 100 companies continued to make funding progress in 2019 due to their stellar investment returns of 17.3%.

27 April 2020 - By Annie Man, Barbara Dewey

What are the health insurance options available to the newly unemployed and how may this affect the size of the Affordable Care Act market?

27 April 2020 - By Brian Colgan, David Kong, Halim Gunawan, Richard W. Holloway

Developments in the Indonesian life insurance industry for the period 1 October 2019 to 31 December 2019

27 April 2020 - By David Byron, Noah Champagne, Blaine Miller, Charlie Mills, Sam Shellabarger

Medicare Shared Savings Program Accountable Care Organizations are especially concerned about the potential for 2020 results to deteriorate due to COVID-19.

27 April 2020 - By Stephen J. Koca, Anne C. Kallfisch, Patricia Kinghorn

The personal auto insurance market has taken a unique response to the COVID-19 pandemic and how it has chosen to reflect the impact of the short-term change in driver behavior.

23 April 2020 - By Hayley M. Rogers, Charlie Mills, Matthew J. Kramer

The deferral and elimination of care during the COVID-19 pandemic could mean a net reduction in medical costs for healthcare payers by at least $75 billion and as much as $575 billion if the deferral and elimination of care continues through the end of 2020.

22 April 2020 - By Josh Dobiac, Bill Matczak, Jeff Greco

This white paper examines the process of constructing discount curves in accordance with Long Duration Targeted Improvements, including the criteria that should be used, and assesses the quality of the different algorithms used to build out a complete curve (including interpolation, extrapolation, and smoothing).

22 April 2020 - By Susan J. Forray, Stephen J. Koca

Modeling medical professional liability costs affected by the COVID-19 pandemic is exacerbated by tort law changes, variation in effect among specialties, and an apparent reduction in current claims that may prove to be only a delay contributing to an increase in future reported claim frequency.

21 April 2020 - By Melody Craff, Dale N. Skinner, David P. Mirkin, Francesca Hammerstrom, William J. Fox

What is the impact of COVID-19 on patterns of healthcare utilization, healthcare costs, and population health?

21 April 2020

How is the market downturn going to affect my pension contributions?

21 April 2020 - By Mary Leong, Ryan Cook

During March 2020, average accounting discount rates increased by 80 bps, while annuity purchase rates increased by 71 bps.

17 April 2020 - By Paul Anderson, Andrew B. Groth

With the COVID-19 pandemic, commercial trucking regulations have been eased while other drivers have been mandated to stay off the road.

17 April 2020 - By Joanne Buckle

The effects of COVID-19 for specific insurers are dependent on benefit packages and policy terms and conditions, as well as government responses and macro-economic factors.

16 April 2020 - By Rebecca A. Sielman

First quarter investment losses have lowered the estimated funding status of the 100 largest U.S. public pension plans as measured by the Milliman 100 Public Pension Funding Index from 74.9% at the end of December 2019 to 66.0% at the end of March 2020.

15 April 2020 - By Jamie Shooks

COVID-19 stands to have an impact on the pet insurance industry, but at this point, it is unclear whether that impact is going to be positive or negative.

15 April 2020 - By Farzana Ismail, Natasha Su Sivarajah, Queenie Chow

This is Milliman’s first Microinsurance Supply-side Study of Asia, gathering the perspectives of the insurance industry regarding the importance of microinsurance, current practices and the enabling environment.

15 April 2020 - By Thomas Bulpitt, Paul Fulcher, Russell Ward

The economy after COVID-19 may look very different from before the crisis and may involve the use of hitherto unfamiliar fiscal and monetary tools.

15 April 2020 - By Neil Rees, Thomas Peplow

Milliman is donating idle compute time to Folding@home, a computing project that simulates protein dynamics, including the process of protein folding associated with a variety of diseases.

15 April 2020 - By Ashlee Mouton Borcan, Jennifer O’Brien Howard, Darrell D. Spell

This report presents the findings of an analysis focused on isolating and estimating the potential financial impact of COVID-19 on hospital indemnity plans in the United States.

15 April 2020 - By Penny Edlund, Maureen Tressel Lewis

Where can a health plan’s medical management team contribute to the COVID-19 response?

15 April 2020 - By Peter Thies

How does a complex pension plan not only pass nondiscrimination testing but also pass this testing in the future?

14 April 2020 - By Jiang Guanjun, Qiuwen Peng

Local strategies differ when it comes to fighting COVID-19, and it’s too early to know which strategy- contain or delay- works better.

14 April 2020

Equity markets and high yield fixed income securities were down significantly for the quarter as investors reacted to the sudden onset of the coronavirus pandemic and the resulting economic consequences.

13 April 2020 - By David M. Lang

COVID-19 mandates will require companies with self-insured or high-deductible programs to take a new look at their operations, which may vastly reshape their risk profiles at least for the time being.

13 April 2020 - By Anne C. Kallfisch, Adam Blais

Due to the ongoing economic challenges that businesses are facing due to COVID-19, staffing needs and levels have changed, at least for the short term, and modifications might be needed for the tracking of workers' compensation exposure depending on the level and type of furlough.

13 April 2020 - By Stoddard Davenport, Matthew J. Kramer, Doug Norris, Pamela M. Pelizzari

The COVID-19 pandemic will have far-reaching implications for both short- and long-term healthcare costs in the U.S., as Milliman consultants Pamela Pelizzari, Stoddard Davenport, Doug Norris, and Matt Kramer discuss on this episode of Critical Point.

12 April 2020 - By Kelly S. Coffing, Timothy L. Connor, Nina M. Lantz

COVID-19’s impact goes beyond the market decline. Many industries are being hit hard by a sudden drop-off in industry activity, with concern that the recovery of normal operation could take several years, reducing the contributions coming into multiemployer pension plans.

10 April 2020 - By John H. Rogers, Annie Man, Kyle Hutmaker

While no one knows what will happen with COVID-19 in 2021, in the absence of a vaccine or other curative treatment, Medicare Advantage plans may be advised to consider possible impacts of the disease well into the future.

10 April 2020 - By Mark Goldburd

While many in the insurance industry have concluded that standard policy language does not provide coverage for coronavirus-related business income losses, insurers should brace for court battles ahead.

10 April 2020 - By Andrew H. Dalton, Jeremy Hamilton, Allen J. Schmitz, Juliet M. Spector

This article examines COVID-19 implications on current long-term care (LTC) populations, short-term (2020) and long-term (beyond 2020) projection assumptions, and the effects on the LTC industry as a whole.

10 April 2020 - By Joanne E. Fontana, Alexandra Dowe

Using publicly available data for the 2020 plan year, this article highlights the landscape of dental coverage availablity in the 38 states with the Federally Facilitated Marketplace.

09 April 2020 - By Adam Blais, Christine M. Fleming

The COVID-19 pandemic is raising many questions regarding what is a compensable workers’ compensation claim.

09 April 2020 - By Noah Champagne, Jonah Broulette, Ted Gary

The Direct Contracting model includes a unique feature allowing accountable care organizations the ability to contract with providers.

09 April 2020 - By Joanne E. Fontana, Thomas D. Murawski

This article explores the potential effects of the COVID-19 pandemic on the dental industry, considering changes in utilization of dental services that could result from the pandemic and its containment efforts as well as the economic ramifications that are already starting to occur and may last for some time.

09 April 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

Financial markets had a very turbulent month in March as more countries around the globe went into lockdowns amid the COVID-19 pandemic.

08 April 2020 - By Katherine Wentworth, Carol H. Steckel, Jeremy Hoffman, Michael C. Cook, Greg J. Herrle

The COVID-19 pandemic is placing historic pressures on our healthcare system and coverage programs alike, and Medicaid programs are a key mechanism states are using to address these challenges.

08 April 2020 - By Jeff Anderson, Mike A. Bergerson

This paper examines COVID-19 implications on current long-term care (LTC) insured populations, short-term (2020) and long-term (beyond 2020) projection assumptions, and the effects on the LTC industry as a whole.

07 April 2020 - By Eric P. Krafcheck, Paul Anderson

After many failed attempts, Michigan legislators finally passed a historic piece of legislation in 2019, Senate Bill No. 1, which will bring sweeping changes to auto insurance in the state starting July 1, 2020.

07 April 2020 - By Sihong Zhu, Paul Fulcher

This briefing paper summarises key amendments made to the updated Supervisory Statement 3/17, and provides our view on how an internal credit assessment framework used by an insurer for examining illiquid and unrated assets, such as equity release mortgages or private debts, can be improved to better align with the regulator's expectations for the Matching Adjustment calculation.

07 April 2020 - By Heerak Basu, Philip Jackson, Sanket Kawatkar, Richard W. Holloway

The onset of COVID-19 and the impact on capital markets pose several challenges for Indian life insurers.

07 April 2020 - By Isabel Stansfield, David Burston, Emma Hutchinson, Stuart Reynolds

This paper summarises the three main delays that EIOPA recommends regulators offer to provide operational relief to undertakings if so needed during the COVID-19 pandemic.

07 April 2020 - By Charles J. Clark, Zorast Wadia

In March, the funded status of the 100 largest corporate defined benefit pension plans rose by $93 billion as measured by the Milliman 100 Pension Funding Index.

07 April 2020 - By Robert Eaton

How should actuaries think and spend their time in regard to the COVID-19 pandemic?

07 April 2020 - By Luis O. Maldonado Irizarry, Sylvia Hagin, Brian Regan

Newly available product design options will require actuaries to develop new tools and processes in order to assist Medicare Advantage organizations in bid development.

07 April 2020 - By Ge Bai, Bruce S. Pyenson, Gillian Woollett

Fast, convenient, cheap, accurate, and widely-used COVID-19 tests can help identify both infected individuals who should self-isolate and those who have recovered, pose low contagion risks, and can help others fight the virus.

07 April 2020 - By Delbert Zamora

This article focuses on the CARES Act provision allowing deferment to January 1, 2021, of required defined benefit contributions due in the 2020 calendar year.

07 April 2020 - By Allen M. Klein

This article examines early mortality experience related to COVID-19 and includes a discussion about the difficulties in using this data.

06 April 2020 - By Sean Silva, Reza Vahid

This alert describes Title III (Supporting America’s Health Care System in the Fight Against the Coronavirus), Part II (Access to Healthcare for COVID-19 Patients), Subpart A (Coverage of Testing and Preventive Services), of the CARES Act, which expands upon Division F, Health Provisions, of the Families First Coronavirus Response Act.

06 April 2020 - By Michael Leitschkis, Russell Ward

This paper provides a brief introduction to proxy modelling and contributes to the current debate around validation via a discussion of a number of the tests that might be contemplated and an illustration of a potential “validation dashboard.”

06 April 2020 - By Andrew Jackson, Brian N. Anderson, Marc Guieb

Pharmacy benefit managers have moved quickly to develop new policies that provide guidance and assurance to their plan sponsor clients and members amid the coronavirus outbreak.

03 April 2020 - By Rachel Soich

With the addition of the global COVID-19 pandemic, an already tumultuous D&O insurance environment has the potential to get much worse.

03 April 2020 - By David Bahlinger, Darrell D. Spell, Michael E. Weilant

In 2019, Milliman conducted a variety of research projects to provide insight into the state of the U.S. supplemental insurance market.

03 April 2020 - By Courtney R. White

Providers are uniquely situated to both direct and/or provide care for those in the healthcare delivery system through establishing their own health plans or contracting with existing payers.

02 April 2020 - By Stoddard Davenport

Although it is too early to analyze actual healthcare cost data for those who have been treated for COVID-19 in the United States, historical data from patients who have sought medical attention for influenza or pneumonia may be informative for understanding patient out-of-pocket costs due to treatment for COVID-19.

02 April 2020 - By Scott D. Preppernau

The turmoil the COVID-19 pandemic has caused in financial markets raises profound and potentially long-lasting concerns for pension plan sponsors.

02 April 2020 - By Matthew J. Kramer, Pamela M. Pelizzari, Doug Norris

What are some of the cost drivers that healthcare payers may expect to encounter both now and down the road after we get through the initial surge of the COVID-19 pandemic?

01 April 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block is estimated to be 268 bps as of the end of March 2020, up 44 basis points from the previous month, driven by a decrease in long-term interest rates and an increase in volatility.

01 April 2020 - By Lori E. Julga, Anne C. Kallfisch, Adam Blais

COVID-19 is changing our work environment, and the impacts not only affect our working environment on the job, but also the normal course of existing workers’ compensation claims.

31 March 2020 - By Robert Eaton, Tim F. Kempen, Stephanie Moench, Amy Pahl, Allen J. Schmitz

This report explores key risks and considerations for product innovation using the long-term care insurance industry as a case study.

31 March 2020 - By Susan Philip, Jeremy Cunningham, Mary Pat Stemnock, Ryan Reichel

This brief scopes out the issue of homelessness and housing security and Medicaid’s role in addressing the issue.

31 March 2020 - By William Strange

These FAQs help you thoughtfully consider the potential effects that market volatility resulting from COVID-19 can have on your plan.

30 March 2020 - By Mary Leong, Ryan Cook

During February 2020, average accounting discount rates decreased by 19 bps, while annuity purchase rates decreased by 25 bps.

30 March 2020 - By Barbara Culley, Maureen Tressel Lewis, Andrew L. Naugle

This brief identifies five key payer functions likely to be affected by the COVID-19 pandemic and actions payers can take to ensure business continuity while enhancing their contributions to the value chain.

30 March 2020 - By Jeff Baker

As employers are facing the harsh reality of implementing layoffs to maintain economic viability, there may be unintended consequences to various retirement programs, especially pension, post-retirement benefit, and other plans.

30 March 2020 - By Alexandre Boumezoued, Eve Titon

This paper discusses actuarial perspectives for the calculation of the capital requirement related to catastrophic pandemic mortality as required by the Solvency II regulation.

30 March 2020 - By Tony Dardis, Chloe Lau, Ariel Weis

The COVID-19 pandemic is raising some profound questions for risk practitioners.

30 March 2020 - By Vicki Mazzie

While many non-essential businesses are closing temporarily due to government requirements, even leading to staff layoffs in some cases, essential employers in some regions are experiencing the need to increase staffing levels or putting plans in place to do so in the coming weeks or months.

30 March 2020 - By Chris Harner, David Kirk

Managing cyber risk in emerging markets such as South Africa poses unique challenges, as Milliman’s David Kirk and Chris Harner discuss.

27 March 2020 - By Samantha J. D’Anna, Adam Feller, Matthew Hayes, Kate Herbig, Michelle Klein

This article provides an overview of the Medicare Part D Senior Savings Model and highlights key considerations for plan sponsors.

27 March 2020 - By Joy A. Schwartzman, Philip S. Borba

With the unprecedented challenges presented by the current and future effects of COVID-19, management and directors will need to be cautious with their decisions and consider consequences not presented in prior difficult times.

27 March 2020 - By Kenneth L. Clark, Nick Ortner

This issue brief explores the resources available to help carriers quantify the expected effect of possible Medicare Supplement medical underwriting application changes and considerations.

27 March 2020 - By Paul Anderson, Eric P. Krafcheck, Katherine A. Pipkorn

As a result of the coronavirus pandemic, auto insurers may likely see short- and possibly long-term effects in their claims experience.

23 March 2020 - By Sean Silva, John R. Botsford, Ilina Ingolia

This article contains specific information about what the “Families First Coronavirus Response Act” covers.

23 March 2020 - By Paul R. Houchens, Hans K. Leida, Lindsy Kotecki

This report looks at the different outcomes for the 50 states from the Affordable Care Act in terms of reduction of the uninsured rate, cost, and availability of health insurance coverage.

23 March 2020 - By Ladd E. Preppernau, Carrie Vaughn

On the heels of the dot-com bust from 2000-2002 and the global financial crisis in 2008, can multiemployer plans survive a third “once-in-a-lifetime” event?

20 March 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

Equity markets started the month strongly as they initially shrugged off concerns about the coronavirus epidemic.

20 March 2020 - By Susan Philip, Susan E. Pantely

In the wake of the COVID-19 pandemic, could telehealth have the potential to replace some in-person services and better triage care based on needs?

19 March 2020 - By Matthias Kullowatz

This report discusses findings from Milliman’s research into policyholder behavior for variable annuity contracts with guaranteed lifetime withdrawal benefit riders.

19 March 2020 - By Tim E. Hill, Susan J. Saip

Milliman conducted a new broad-based survey on multi-year guaranteed annuities, capturing historical data for key industry competitors, as well as company perspectives on a range of issues pertaining to these products into the future.

18 March 2020 - By Nicholas Johnson, Christopher Kunkel, Annie Hallum

With calendar year 2021 Medicare Advantage (MA) deadlines approaching, state Medicaid agencies and MA plans offering Dual Eligible Special Needs Plans must quickly determine how to fulfill new integration requirements mandated by the Bipartisan Budget Act of 2018.

17 March 2020 - By Susan J. Forray

Healthcare providers, facilities, and MPL writers can expect direct and indirect impacts from the coronavirus pandemic—with the indirect impact possibly proving more impactful over the long term.

16 March 2020 - By Fred Vosvenieks

Firms need to be thinking and acting with dynamism to manage the here and now of the global coronavirus pandemic and plan effectively for multiple future scenario pathways.

13 March 2020 - By Stephanie Moench, Shawn Stender

This article explores three possible future paths for long-term care (LTC) insurance funding and the associated implications for the private LTC industry.

13 March 2020 - By Jeff Anderson, Mike A. Bergerson

What are the advantages and disadvantages of long-term care policy buyouts from various stakeholder perspectives?

12 March 2020 - By Colleen Norris, Brent Jensen, Dustin J. Grzeskowiak

This paper provides an in-depth technical evaluation of Direct Contracting, based on the Centers for Medicare and Medicaid Services request for applications, along with comparisons to its sister programs—Medicare Shared Savings Program Accountable Care Organization (ACO) and Next Generation ACO.

11 March 2020 - By Jonathan B. Glowacki, Edem Togbey, Zach Prieston, Arthur Prieston

In the wake of the 2008 global financial crisis, many risk managers were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure.

11 March 2020 - By Chris Harner, Chris Beck, Blake Fleisher

A cyberattack on even a mid-sized bank could ultimately cause a cascading failure of interbank funding, leading to a tipping point for a broader systemic liquidity crisis.

11 March 2020 - By Jeffrey T. Marzinsky

The 1,190.95-point Dow decline on February 27, 2020, is the largest we’ve seen in the history of the Dow and amounts to a drop of over 4.4%.

10 March 2020 - By Charles J. Clark, Zorast Wadia

In February, the funded status of the 100 largest corporate defined benefit pension plans fell by $71 billion as measured by the Milliman 100 Pension Funding Index.

09 March 2020 - By Joanne Buckle, Tanya Hayward, Natasha Singhal, Kishan Desai

This paper discusses the implementation and practical uses of wearable technology in the private medical insurance market.

09 March 2020 - By Chris Harner, Chris Beck, Blake Fleisher

Cyber is proving to be the ultimate enterprise risk, encompassing not only information technology but also risks involving vendors, people, legal questions, and reputation, all while moving with stealth and a velocity that is extremely difficult to cope with.

06 March 2020 - By Ian Laverty

This article takes a deep dive into changes stemming from the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 and provides additional insight into the new law, particularly as it relates to individual annuity contracts.

06 March 2020 - By Joanne Buckle, Kevin Manning

Every country has its own, unique healthcare system, but within these disparate systems there are shared approaches that cross borders and languages, and we explore some of these similarities in this episode of Critical Point.

05 March 2020 - By Ashlee Mouton Borcan

For insurers, innovation is a key factor to increasing market share and improving customer retention.

05 March 2020 - By Jeffrey R. Reardon

This article helps identify restricted employees and explains how their lump-sum benefit form option may be affected.

05 March 2020 - By Pauric Mullan, Sinéad Clarke

This analysis compares information provided in the Quantitative Reporting Templates and Solvency and Financial Condition Reports and draws conclusions about the balance sheets and risk exposures of European health insurers, including comparisons with previous years.

03 March 2020 - By David G. Hayes, Rachel W. Killian, Shyam Kolli

What are considerations for health plans when determining capital requirements?

03 March 2020 - By Robert L. Schmidt

The financial risks associated with offering a health benefit plan can’t be entirely eradicated, but there are many proactive steps plan sponsors can take to optimize their approaches to health benefits.

03 March 2020 - By Safder Jaffer, Asad Irshad

The UAE insurance market continued its trend for a third consecutive year with an overall increase in profitability along with premium growth in 2019.

03 March 2020 - By Michelle Richter

More can be done by representatives of the fiduciary advice, annuity, and technology industries working together both to overcome negative perceptions and to better integrate annuities into the holistic planning solutions that fee-based advisers use.

03 March 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block is estimated to be 224 bps as of the end of February 2020, up 24 basis points from the previous month, driven by a decrease in long-term interest rates.

03 March 2020 - By Matthew McIlvanna, Aisling Barrett

(Re)insurance undertakings completing their Solvency II reporting are required to submit four reporting templates analysing the variance over the year. EIOPA’s explanatory note on these templates was updated most recently in July 2018 with the updated Implementing Technical Standards and LOG files published in November 2018. In this briefing note we discuss these templates and provide insight on how to approach them.

02 March 2020 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

02 March 2020 - By Rebecca A. Sielman

The estimated funded status of the 100 largest U.S. public pension plans grew from 72.7% at the end of September 2019 to 74.9% at the end of December 2019 as measured by the Milliman 100 Public Pension Funding Index.

27 February 2020 - By Cameron Gleed, Jason Karcher, Jason J. Petroske

This white paper evaluates the implications of the risk adjustment data validation program from the perspective of issuer results with an eye for what the actual impacts say about the program’s performance.

26 February 2020 - By Mary Leong, Ryan Cook

The Milliman Pension Buyout Index uses the FTSE Above Median AA Curve and annuity purchase composite interest rates from several insurance companies to estimate the cost, as a percentage of accounting liability, of transferring retiree pension obligations to an insurer.

26 February 2020 - By Vanessa M. Vaag, Mary Hart

This article confirms that certain defined benefit (DB) pension plan changes included in the Setting Every Community Up for Retirement Enhancement (SECURE) Act may lead to technical and administrative concerns for DB plan sponsors, who should be prepared to address them after careful inspection of the new law.

24 February 2020 - By Nina M. Lantz, Rex Barker, Timothy L. Connor, Stuart Kliternick, Joel E. Stewart, William Wade

Milliman’s December 2019 Multiemployer Pension Funding Study reports on the estimated funded status of all U.S. multiemployer defined benefit plans as of December 31, 2019.

24 February 2020 - By Brian N. Anderson, Greg Callahan

One of the most important ways plan sponsors can lower healthcare costs without significantly changing their benefits is to look for opportunities to improve their pharmacy benefit manager contract.

21 February 2020 - By George Barrett, Claire Booth, Tanya Hayward

How has automation affected—and how will it continue to affect—the nature of insurance companies’ processes and the nature of their clients’ needs?

20 February 2020 - By Thomas M. Carrabine

With rising healthcare costs and people living longer, trustees of multiemployer plans may want to ask themselves: How can we better support our members in retirement when addressing healthcare costs?

20 February 2020 - By Neil Dissanayake, Paul Fulcher, Emma Hutchinson, Peter Lin, Dmitry Zamkovoy, Sihong Zhu

The European Insurance and Occupational Pensions Authority recently published its first discussion paper on IBOR transition.

19 February 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

After a very strong performance in 2019, equity markets started 2020 on the back foot due to fears of a coronavirus outbreak and rising tensions between the US and Iran.

19 February 2020 - By Andrew Dilworth, Paul R. Houchens

This report provides an analysis of the recently released 2019 Centers for Medicare and Medicaid Services Medicaid and Children’s Health Insurance Program Scorecard.

19 February 2020 - By Takanori Hoshino, William C. Hines

This briefing note illustrates potential differences between the International Financial Reporting Standard for insurance contracts and US GAAP long-duration contract targeted improvements using a traditional level premium endowment contract.

18 February 2020 - By Eoin O'Baoighill, Gillian Tucker, Divey Hiranandani, Gavin Maher

Non-life (re)insurers are continuing to take a growing interest in data science. Here we discuss the results of a recent survey of activity in this area.

18 February 2020 - By T. Scott Bentley, Nick Ortner

This report is Milliman’s triennial summary of estimated U.S. average utilization, billed charges, and resulting per member per month costs for organ and tissue transplants.

14 February 2020 - By Julia M. Friedman, Brett L. Swanson, Mary G Yeh, Jordan Cates

This report highlights key changes in member premiums and benefits for the 2020 Medicare Advantage (MA) market, as well as the contributing factors for, and the magnitude of, the increase in value added within the MA market each year from 2016 to 2020.

14 February 2020 - By Heerak Basu, Philip Jackson, Sanket Kawatkar, Richard W. Holloway

On 4 February, Milliman hosted an event on the forward perspective of the life insurance industry in Bangladesh. At the event, participants were polled on various aspects of the life insurance industry in Bangladesh.

14 February 2020 - By Joanne E. Fontana, David Bahlinger, Michael E. Weilant

Milliman’s 2019 Dental Survey represents 50 carriers and $31.5 billion of inforce premium.

14 February 2020 - By Robert Eaton, William G. Mehilos, David Bahlinger, Michael E. Weilant

Milliman’s 2019 Worksite Life Survey represents 21 carriers and $2 billion in inforce premium.

14 February 2020 - By Robert Eaton, William G. Mehilos, David Bahlinger, Michael E. Weilant

Milliman’s 2018 Worksite Life Survey represents 13 carriers and nearly $1.7 billion in inforce premium and focuses on term, whole life, and universal life products.

13 February 2020 - By David Bahlinger, Darrell D. Spell, Michael E. Weilant

Milliman’s 2019 Accident Insurance Survey represents 42 carriers and $2.4 billion in inforce premium.

13 February 2020 - By Ashlee Mouton Borcan, Jennifer O’Brien Howard, David Bahlinger, Darrell D. Spell, Michael E. Weilant

Milliman’s 2019 Hospital Indemnity Survey represents 32 carriers and $1.3 billion in inforce premium.

13 February 2020 - By Ashlee Mouton Borcan, David Bahlinger, Jennifer O’Brien Howard, Darrell D. Spell, Michael E. Weilant

Milliman’s 2017 Hospital Indemnity Survey represents 23 carriers and $1.3 billion in inforce premium in the hospitality indemnity market.

12 February 2020 - By Susan J. Saip, Carl A. Friedrich

In 2019, Milliman conducted its second biennial broad-based survey on term life insurance.

11 February 2020 - By Charlie Mills, Chris Smith

This paper explores the minimum savings rate (MSR)/minimum loss rate (MLR) options available to accountable care organizations (ACOs) and presents perspective on what ACOs should consider when selecting the MSR/MLR under a Medicare Shared Savings Program track with downside risk.

10 February 2020 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

10 February 2020 - By Charles J. Clark, Zorast Wadia

In January, the funded status of the 100 largest corporate defined benefit pension plans fell by $73 billion as measured by the Milliman 100 Pension Funding Index.

08 February 2020 - By Christine M. Mytelka, Susan E. Pantely, Catherine E Lewis , Katherine Wentworth, Nick A Bauman

State program directors face many complex considerations as they evaluate the Healthy Adult Opportunity 1115 waiver option.

06 February 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block is estimated to be 200 bps as of the end of January 2020.

06 February 2020 - By Charles J. Clark, Deborah Lachner

The new SECURE Act might have a few surprises for employers and their TPA business partners when it comes to managing retirement plans.

04 February 2020 - By Judith-Anne Brelih, Jonathan B. Glowacki

The latest monthly estimate of the lifetime default risk of U.S.-backed mortgages.

04 February 2020 - By Sam Shellabarger, Charlie Mills, Lance D. Anderson

What are the potential effects of prospective and retrospective assignment on key accountable care organization metrics under the Medicare Shared Savings Program?

04 February 2020 - By Matthew McIlvanna, Sinéad Clarke, Aisling Barrett

This briefing note highlights some interesting information published in the Solvency and Financial Condition Reports of life insurance companies in Ireland at year end 2018, focussing on premiums, investments and solvency coverage.

03 February 2020 - By Sinéad Clarke, Diana Dodu, Tanya Hayward, Judith Houtepen, Lindsy Kotecki, Monika Lis, Erica Rode, Rong Yi

This paper sets out a ‘how-to’ guide to risk equalisation, or risk adjustment.

03 February 2020 - By Ian Laverty

Annuities in retirement plans such as the 401(k) may have become more attractive to consumers, plan sponsors, and annuity writers after passage of the SECURE Act.

03 February 2020 - By Matthew J. Kramer, Erica Reijula, Sam Shellabarger

What are the similarities and differences in the financial benchmark methodology between the Direct Contracting payment model and the Medicare Shared Savings Program?

30 January 2020 - By Stoddard Davenport, Ally Weaver, Marissa North

This paper studies the prevalence of mental health and substance use disorders within commercially insured families in the United States to understand the likelihood of a household being affected by these conditions.

28 January 2020 - By Grace Chang, Li Feng, Bill Matczak, Karthik Yadatore

This paper focuses on the cash flow modeling aspects of Market Risk Benefits on fixed indexed annuities contracts, especially the methodology for projecting indexed account growth.

28 January 2020 - By Haitham Aly, Phil Ellenberg, Shyam Kolli, Josh Reinstein

This paper provides a summary of the key provisions of the price transparency final rule that apply to hospitals, briefly touching on topics that require additional consideration by parties affected by the rule.

24 January 2020 - By Jessica Crowson, David Burston, Neil Christy, Stuart Reynolds, Aisling Barrett, Eoin King, Bridget MacDonnell, Kendall Carolissen, François de Wouters, Luca Cavaliere, Aldo Balestreri, Dominic Clark, Jaroslaw Lech

On 15 October 2019 EIOPA issued a second wave of consultation covering a wide range of areas.

23 January 2020 - By Eoin King, Bridget MacDonnell, Aisling Barrett

This briefing discusses an overview of the Solvency II 2020 review, the latest risk management developments and an overview of 2018 SFCR information for the Irish insurance industry.

22 January 2020 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

European equity markets continued their positive performance in December as a “phase one” trade deal agreement was reached between the US and China.

22 January 2020 - By Joe Becker

In the life of the U.S. economy and its financial markets, 2019 was in many ways an exceptional year.

17 January 2020 - By Kelly S. Backes, Greg J. Herrle, Douglas I. Rodrigues

This paper explores the various components of Medicare Advantage revenue, avenues Medicare Advantage organizations may explore to increase their Part C and Part D revenues, and key considerations for each approach.

17 January 2020 - By Jennifer O’Brien Howard, Stacy Koron

Small companies in the supplemental health products market need to understand the unique challenges these products present in order to compete effectively.

17 January 2020

Markets were largely up for the quarter as investors reacted to easing trade tensions and reduced fears of a recession.

17 January 2020 - By Matt Cheung, Ian Laverty, Zi Xiang Low, Bill Matczak, Zohair Motiwalla

In the third quarter of 2019, Milliman conducted a survey to establish market practice in the application of VM21: Principle-Based Reserves for Variable Annuities.

16 January 2020 - By Kelly S. Backes, Katherine N. Kroening, Douglas I. Rodrigues , Gokce Yilmaz

This paper provides a brief overview of the upcoming end-stage renal disease Medicare Advantage eligibility change and key questions each Medicare Advantage organization should consider when planning for 2021.

15 January 2020 - By Joseph Boschert, Jim Hong, Kyle Ligon

This paper analyzes Medicare Advantage claims and membership data to evaluate the risk and costs associated with opioid use disorder.

10 January 2020 - By Jill S. Herbold, Melanie K. Kuester

This paper discusses several decision points and considerations for states evaluating a single preferred drug list requirement.

10 January 2020 - By Christine Jello, Suzanne Norman, Patricia L. Renzi

Women face unique obstacles in securing the necessary roadmap for retirement.

09 January 2020 - By Rob Frize, Bridget MacDonnell

On December 24, 2019 the Isle of Man Financial Services Authority announced its latest consultation on changes to the Corporate Governance Code for Insurers. This briefing note summarises the changes which relate to governance requirements for captive insurers, recovery planning and enterprise risk management frameworks.

08 January 2020 - By Milliman Employee Benefits Research Group

The President on Dec. 20, 2019, signed the "Further Consolidated Appropriations Act, 2020" into law (P.L. 116-94), funding government agencies for the remainder of the 2020 federal fiscal year (ending Sept. 30, 2020). The law includes significant provisions – some mandatory, some optional – affecting employer-sponsored retirement and health benefit plans.

08 January 2020 - By Christopher Kunkel, Jordan Pettibon

Which options do Medicare Advantage enrollees look at most when choosing a plan?

08 January 2020 - By Charles J. Clark, Zorast Wadia

The year 2019 was characterized by strong investment returns alongside sharply decreasing discount rates that resulted in an overall $30 billion drop in funded status.

07 January 2020 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

07 January 2020 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 182 bps as of the end of December 2019, down 10 basis point from the previous month, driven by an increase in long-term interest rates.

07 January 2020 - By Neil Cantle, Claire Booth

This client briefing describes the proposals of the 2021 biennial exploratory scenario.

07 January 2020 - By Lindsy Kotecki, Stan Westrom

This case study discusses the actuarial implications of one potential Medicare buy-in option.

07 January 2020 - By Anna Bunger, Madeleine Cline, Katherine M. Holcomb

This study provides claim cost benchmarks to illustrate the magnitude and distribution of specialty medication costs adjudicated under both the pharmacy and medical benefit for a commercially insured population.

07 January 2020 - By Neil Christy, Stuart Reynolds, William Smith

This report focusses on the Solvency and Financial Condition Reports published in 2019 which refer to year-end 2018.

07 January 2020 - By David Burston, Stuart Reynolds, Philip Simpson, Lyndsay Wrobel

This publication focusses on assessing various shareholder metrics as at year-end 2018, based on publicly disclosed information, that could be used by interested parties - such as investors or market analysts - to form a view on the profitability of a firm’s business.

07 January 2020 - By Ben Mori, Tyler Schulze, Jason A. Clarkson

This paper contains a summary of the key elements of the Medicaid Fiscal Accountability Regulation’s proposed changes to supplemental payments that may be relevant to state Medicaid agencies.

06 January 2020 - By Joseph Boschert, Janet Jennings, Robert L. Schmidt

This paper examines the various connections between health and wealth as well as the repercussions of ignoring those connections.

06 January 2020 - By Joseph Boschert, Janet Jennings, Robert L. Schmidt

People are looking for ways to protect their long-term health and wealth, and they expect their financial advisers to create more comprehensive financial plans that will help them achieve this goal.

06 January 2020 - By Lalit Baveja, Alison Counihan, Tanya Hayward, Monika Lis, Neha Taneja

What are the best practices for designing and implementing a wellness programme?

03 January 2020 - By Mike Gaal, Jason Karcher

How much will single-payer healthcare in the United States cost and how will it be paid?

23 December 2019 - By Rebecca A. Sielman

20 December 2019 - By Paul Sinnott, Michael Daly, Richard W. Holloway, Wing F. Wong, Chihong An, Wen Yee Lee, Stephen H. Conwill, Sanket Kawatkar, Shamit Gupta

This report provides a summary of the mid-year 2019 embedded value results disclosed by Asian insurers.

17 December 2019 - By Jiang Guanjun

In China, the Action Plan for Promoting the High Quality Development of the Healthcare Industry 2019-2022 promotes, in the development of health insurance products, the use of special needs medical services, innovative medical technologies and drugs and high-end medical devices as well as health intervention procedures.

13 December 2019 - By Hyunsu Kim, Michael Leitschkis

This paper considers a technique called the Isolation Forest, which overcomes the shortcomings of classic anomaly detection algorithms.

13 December 2019 - By Mark C. Olleman, Matt Larrabee

This paper presents two alternative options for mortality projection based on historical mortality improvement data.

12 December 2019 - By Sheri Lee Scott

With the peril of California wildfires growing, what's ahead for the insurance industry?

12 December 2019 - By Patrick Meghen, Ellen Matthews

The full slide deck from the Solvency II Compliance Assessment Tool User Seminar on 26th November 2019.

11 December 2019 - By Joe Becker

The global equity market in November posted its third consecutive monthly return of more than 2% and its ninth positive monthly return for 2019.

11 December 2019 - By Michael C. Meehan

Michael Meehan discusses the current captive marketplace in Cayman.

11 December 2019 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

European equity markets had a solid performance in November as optimism grew that a “phase one” trade deal agreement may be reached between the US and China.

10 December 2019 - By Noah Champagne, Dane Hansen

As the prevalence of partnerships between payers and providers increases, it is critical for payers to monitor and track emerging experience and communicate these results to partner providers.

10 December 2019 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

09 December 2019 - By Joseph Sloan , Rik van Beers, Andrew Kay

This briefing note discusses considerations when determining the Fair Value of insurance liabilities.

06 December 2019 - By David Stoddard

The Milliman Multiemployer Health and Welfare Study analyzes various financial disclosures for multiemployer health and welfare plans, also known as Taft-Hartley plans, nationwide.

05 December 2019 - By Joanne Buckle, Tanya Hayward, Natasha Singhal

The value of care categories assess the validity and efficacy of treatments in relation to associated conditions to inform where groups of patients may benefit from alternative pathways.

05 December 2019 - By Charles J. Clark, Zorast Wadia

In November, the funded status of the 100 largest corporate defined benefit pension plans increased by $15 billion as measured by the Milliman 100 Pension Funding Index.

05 December 2019 - By David V. Williams, Donna Wix

What are the prevalence rates for rheumatoid arthritis, ulcerative colitis, and hemophilia as compared to zombie statistics commonly cited?

04 December 2019 - By Julia M. Friedman

What are the advantages of adding a segmented plan to a Medicare Advantage organization portfolio and what are the bid requirements for segmented plans?

03 December 2019 - By Brian Colgan, Halim Gunawan, Richard W. Holloway, David Kong

Developments in the Indonesian life insurance industry during the period 1 July 2019 to 30 September 2019.

03 December 2019 - By David Evans

Offering the right benefits has become even more important for employers trying to attract and retain top talent.

03 December 2019 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 192 bps as of the end of November 2019, up 1 basis point from the previous month, driven by a slight decrease in long-term interest rates.

02 December 2019 - By Derek Newton, Marc Smillie , Flavien Thery

The analyses underlying this research report focus on the quantitative information contained in the Quantitative Reporting Templates within the Solvency and Financial Condition Reports and draw conclusions about the balance sheets and risk exposures of European non-life insurers.

02 December 2019 - By Eamonn Phelan

In this paper, we look at the central role that can be played by an Expert Judgment Register.

26 November 2019 - By Robert W. Beal, Tasha S. Khan

This report presents the results of Milliman’s 2019 Annual Survey of the U.S. Individual Disability Income Insurance Market.

26 November 2019 - By Jason A. Clarkson, Zachary Fohl, Paul R. Houchens

These state profiles summarize insurer financials, marketplace enrollment, and federal assistance provided to households purchasing insurance coverage through the insurance marketplaces, incorporating recently released data from the 2019 open enrollment period and estimated 2019 effectuated enrollment.

26 November 2019 - By Grant Camp, Ryan Rowland

This alert summarizes key aspects of the proposed Multiemployer Pension Recapitalization and Reform Plan.

25 November 2019 - By Clement Bonnet, Michael Daly, Pingni Eng, Wen Yee Lee

Accelerated growth in Vietnam? Forty senior leaders from different functions of life insurance respond to questions about interest rates, regulatory change, insurtech, and more.

25 November 2019 - By Milliman Employee Benefits Research Group

This card lists the 2020 key limits for employer-sponsored retirement plans, Social Security and Medicare levels, and health savings account limits set by federal agencies.

25 November 2019 - By Sinéad Clarke, Ellen Matthews

To help prepare for Solvency II reporting throughout 2020, we have prepared a briefing note detailing Solvency II reporting deadlines in 2020 and the changes in the reporting framework relative to the previous year.

22 November 2019 - By Eamon Comerford, Cormac Gleeson

This briefing note discusses how the use of external data can complement wider data science initiatives and looks at some of the challenges posed by working with external data.

22 November 2019 - By Noah Llanda

This alert focuses on the Pension Benefit Guaranty Corporation (PBGC) annual report as it pertains to the PBGC Multiemployer Program.

22 November 2019 - By Jeremy Hamilton, Allen J. Schmitz, Ali M Yeager

How does spousal contagion influence long-term care needs?

20 November 2019 - By Milliman Employee Benefits Research Group

The IRS has issued a proposed rule that would amend the life expectancy and distribution period tables used to calculate required minimum distributions (RMDs) from qualified retirement plans, profit-sharing and stock bonus plans, individual retirement accounts (IRAs) and annuities, and 403(b) and 457 plans and certain other tax-favored employer-provided retirement arrangements.

19 November 2019 - By Heerak Basu, Shamit Gupta, Richard W. Holloway

The (re)insurance industry in Asia has recently seen signs of increased actuarial outsourcing. Is it a new trend?

19 November 2019 - By Heerak Basu, Richard W. Holloway, Philip Jackson, Sanket Kawatkar

In recent years, capital has become more of a constraint for Indian life insurers. This survey of a majority of Indian insurers asks how they're managing risk.

19 November 2019 - By Milliman Employee Benefits Research Group

Key administrative dates and deadlines for calendar-year defined contribution retirement plans subject to ERISA and the Internal Revenue Code.

19 November 2019 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

19 November 2019 - By Bryan Jones

By tweaking existing familiar concepts—the funding liabilities—we can leverage the understanding that employers already have about their pension plans to explain various risks, some of which are very pertinent to decision making.

19 November 2019 - By Neil Dissanayake, Peter Lin, Nima Shahroozi

European equity markets had a mixed performance in October.

18 November 2019 - By Milliman Employee Benefits Research Group

Key administrative dates and deadlines for calendar-year single-employer defined benefit plans subject to ERISA and the Internal Revenue Code.

18 November 2019 - By Mark R. Shapland

Under Solvency II, non-life reserving risk takes on a meaning based on the change in the estimated ultimate loss over a one-year time horizon, which accounts for the payments during the one-year time horizon and the consequences for future payments after the one-year time horizon.

18 November 2019 - By Heerak Basu, Shamit Gupta, Richard W. Holloway

Milliman conducted a survey to assess trends in life insurance actuarial outsourcing.

15 November 2019 - By Mark R. Shapland

This paper focuses on the closed form model developed by Mack, modified by Merz and Wüthrich to address the one-year horizon under Solvency II, and on its extension for two-year, three-year, etc. time windows that can be reconciled back to the original Mack formulas.

15 November 2019 - By Lalit Baveja, Carol Bazell, Alison Counihan

The successful adoption of value-based care in the Middle East faces important challenges.

15 November 2019 - By Mark R. Shapland

Under Solvency II, reserving risk takes on a different meaning, based on the change in the estimated ultimate loss over a one-year time horizon, which accounts for the payments during the one-year time horizon and the consequences for future payments (i.e., the change in reserves) after the one-year time horizon.

15 November 2019 - By Milliman Employee Benefits Research Group

The Department of Health and Human Services' Centers for Medicare and Medicaid Services (CMS) has announced cost-of-living adjustments (COLAs) for Medicare Parts A and B for 2020.

14 November 2019 - By Gillian Tucker

This briefing note provides an introduction to data visualisation.

13 November 2019 - By François Dauphin, William C. Hines, Daniel D. Skwire

This paper illustrates the potential impacts of Accounting Standards Updates 2018-12, Targeted Improvements for Long-Duration Contracts, relative to current US GAAP accounting with respect to products with long claim periods such as individual disability insurance and highlights some practical implementation challenges.

13 November 2019 - By Milliman Employee Benefits Research Group

The Department of Labor (DOL) released a proposed rule that, if finalized, will provide an additional "safe harbor" for plan administrators to use electronic media to furnish retirement plan information to participants and beneficiaries.

12 November 2019 - By Mike Claffey, Rob Frize, Patrick Meghen

This briefing discusses Irish SFCRs in 2017 and 2018 and ORSA processes and outcomes.

11 November 2019 - By Eamon Comerford, Cormac Gleeson, Eoin King, Kevin Manning, Daniel McAleese, Matthew McIlvanna

The potential role of pooled investment funds in helping alleviate Ireland’s affordable housing crisis.

11 November 2019 - By Aisling Barrett, Eoin King

This briefing note summarises EIOPA’s October 2019 consultation paper on its opinion on the Solvency II 2020 review.

11 November 2019 - By Joe Becker

The global equity market in October notched its second consecutive monthly return of more than 2% and its eighth positive monthly return for 2019.

11 November 2019 - By Charles J. Clark, Zorast Wadia

In October, the funded status of the 100 largest corporate defined benefit pension plans increased by $11 billion as measured by the Milliman 100 Pension Funding Index.

08 November 2019 - By Jeremy Cunningham, Mat DeLillo

This paper discusses the risks and considerations of changing Medicaid’s funding formula to a general block grant structure.

08 November 2019 - By Milliman Employee Benefits Research Group

The 2020 adjusted figures for high-deductible health plans and health savings accounts included in this Client Action Bulletin were released by the IRS earlier this year and are provided here for convenience.

06 November 2019 - By Milliman Employee Benefits Research Group

Key administrative dates and deadlines for defined benefit plans subject to ERISA and the Internal Revenue Code.

06 November 2019 - By Milliman Employee Benefits Research Group

By year-end 2019, sponsors of calendar-year single-employer retirement plans must adopt necessary and discretionary plan amendments to ensure compliance with the statutory and regulatory requirements of ERISA and the tax code. This Client Action Bulletin looks at key areas - including administrative compliance issues - that defined benefit (DB) and/or defined contribution (DC) plan sponsors should address by Dec. 31, 2019.

04 November 2019 - By Dominick Pizzano

This article highlights points to consider when conducting a Section 409A “to be or not to be” determination process.

04 November 2019 - By Eric Buzby, Catherine M. Murphy-Barron

In the past two years, CMS has expanded the types and flexibility of supplemental benefits Medicare Advantage organizations (MAOs) can offer enrollees. This issue brief discusses the implications of actions taken by plans in response.

01 November 2019 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 191 bps as of the end of October 2019, down 10 basis points from the previous month, driven by an increase in long-term interest rates.

01 November 2019 - By Jacob Bryniarski, Joanne E. Fontana

This article, using publicly available CMS data, explores the current landscape of dental benefits offered in Medicare Advantage plans, discussing the ramifications for insurers and consumers alike.

01 November 2019 - By Dustin J. Grzeskowiak, Darin Muse, Daniel J. Perlman

There may be some uncertainty for plans and consumers alike around the Quality Information Rating Bulletin—specifically, what the quality scores represent, how they are developed, and/or how they may be used now or in the future.

29 October 2019 - By Dan Freeman, Mike Gaal, Cory Gusland, Jennifer Janvrin

Health and group benefits news and developments in the United States.

28 October 2019 - By David D. Evans, Cody Webb, Eric J Xu

Wildfire risk has become a key focus of California property insurers.

25 October 2019 - By Josh Dobiac, Ram Kelkar, Jeanne Russo , David Schreiner

Major initiatives are under way to reform interest rate benchmarks and move away from Interbank Offered Rates (IBOR) to overnight near risk-free rates.

24 October 2019 - By Jason Karcher, Jason J. Petroske, Cameron Gleed

This article breaks down the purpose and technical details of the Patient Protection and Affordable Care Act risk adjustment data validation audit.

24 October 2019 - By Claire Booth, Tanya Hayward, Peter Moore, Thomas Peplow

This paper discusses the areas which should be assessed before, during and after embarking on an outsourcing agreement with a cloud provider.

24 October 2019 - By Sean S. Hilton, Thomas D. Murawski

Insurers who forgo periodic, comprehensive analyses to ensure the appropriateness of their dental rating manuals risk reduced product marketability (if rates are too high) or non-profitability and adverse selection (if rates are too low).

22 October 2019 - By Thomas Bulpitt, Andrew Kay, Henny Verheugen

This note summarises some of the key points and remaining issues raised during the consultation period for the Exposure Draft, particularly those raised by the European Financial Reporting Advisory Group and the European Insurance CFO Forum.

18 October 2019 - By Benjamin J. Diederich, William J. Fox, Brent Jensen

Employers should adjust health plan options for morbidity in order to reduce the selection bias.

17 October 2019 - By Rex Barker, Kevin M. Campe, Timothy L. Connor, Stuart Kliternick, Nina M. Lantz, Ladd E. Preppernau, Joel E. Stewart

The Fall 2019 Multiemployer Pension Funding Study updates the estimated funded status of U.S. multiemployer plans as of June 30, 2019, showing the change in funding levels from December 31, 2018.

17 October 2019 - By Neil Dissanayake, Peter Lin

European equity markets made a strong recovery in September as the ECB cut the benchmark rate by 10 basis points and restarted its asset purchase programme in response to a weaker economic outlook.

17 October 2019 - By Joanne Buckle, Alison Counihan, Tanya Hayward, Nicholas Kallis, Bridget MacDonnell, Kevin Manning, Neha Taneja

This guide can assist managers in thinking through the practical components of a population health management programme, from overall objectives and definitions, through to the people, processes and technology enablers that are so critical for success.

15 October 2019 - By Joe Becker

Global equities rallied in September, recovering all of their losses from August and notching their third consecutive quarter of positive returns.

15 October 2019 - By Michelle Klein, Matt Kranovich

This paper highlights several key changes to Medicare Plan Finder— and potential unintended consequences— and offers suggestions as to how those changes could potentially affect Medicare Advantage Organizations.

14 October 2019 - By Joanne E. Fontana

New trends in dental care and insurance coverage are aimed at improving the patient experience as Milliman’s Joanne Fontana discusses.

10 October 2019 - By Ankush Aggarwal, Joanne Buckle, Tanya Hayward

This report provides an updated view of National Health Service England prescription drug costs for financial year 2018/2019.

10 October 2019 - By Demosthenis Demosthenous, Ed Morgan

The Greek insurance market contracted every year between 2009 and 2016, and even with improvement in the last couple of years, is still nearly 30% below the peak level reached in 2009.

10 October 2019 - By Claire Booth, Emma Hutchinson

This paper discusses the key findings of the European Insurance and Occupational Pensions Authority’s report titled ‘Cyber Risk for Insurers- Challenges and Opportunities’ with respect to cyber risk as an element of an insurer’s own operational risk profile.

09 October 2019 - By Milliman Employee Benefits Research Group

Monthly benefits news and developments in the United States.

09 October 2019

Markets were mixed for the quarter as investors digested potential risks and opportunities in the market.

08 October 2019 - By Stoddard Davenport, Stephen P. Melek

Milliman has been retained by a number of state agencies to advise them on appropriate methods by which to conduct parity compliance analyses and audits for nonquantitative treatment limitations.

08 October 2019 - By Patrika Bansal, Heerak Basu

This briefing note analyses the evolution of the discount rate for measuring employee benefit obligations under AS15(R), AS19 and IAS19.

07 October 2019 - By Charles J. Clark, Zorast Wadia

In September, the funded status of the 100 largest corporate defined benefit pension plans rose by $38 billion as measured by the Milliman 100 Pension Funding Index.

04 October 2019 - By Arthur Rains-McNally, William Strange

This article presents perspectives on the challenges of the current interest rate environment.

03 October 2019 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 201 bps as of the end of September 2019, down 10 basis points from the previous month, driven by an increase in long-term interest rates.

02 October 2019 - By Jean-Baptiste Coulomb, Adeline Maulet, Eliott Pradat , Badis Zeghmar

EIOPA published its first wave of consultation papers on the Solvency II 2020 review in June 2019. This briefing note summarises EIOPA’s proposals regarding Financial Stability Reporting.

02 October 2019 - By Derek Newton, Marc Smillie , Flavien Thery

This report summarises the third set of Solvency II public reports, the Solvency and Financial Condition Reports, as they relate to non-life insurers in the UK or Gibraltar.

02 October 2019 - By David Burston, Neil Christy, Jessica Crowson, Stuart Reynolds

EIOPA published its first wave of consultation papers on the Solvency II 2020 review in June 2019. This briefing note summarises EIOPA’s proposals regarding the Solvency and Financial Condition Report (SFCR).

02 October 2019

EIOPA published its first wave of consultation papers on the Solvency II 2020 review in June 2019. This briefing note summarises EIOPA’s proposals regarding Insurance Guarantee Schemes.

02 October 2019 - By Divey Hiranandani, Eoin King, Ellen Matthews

EIOPA published its first wave of consultation papers on the Solvency II 2020 review in June 2019. This briefing note summarises EIOPA’s proposals regarding the Quantitative Reporting Templates.

02 October 2019 - By Jean-Baptiste Coulomb, Adeline Maulet, Eliott Pradat , Badis Zeghmar

EIOPA published its first wave of consultation papers on the Solvency II 2020 review in June 2019. This briefing note summarises EIOPA’s proposals regarding general issues on supervisory reporting and public disclosure.

01 October 2019 - By Utku Cagatay Arslan, Ayse Pinar Coban, Halil Kolbasi, William Smith , Jennifer Strickland

This report focuses on the preparedness of Turkish insurers and reinsurers for the new accounting standard, International Financial Reporting Standard 17.

01 October 2019 - By Thomas Poinsignon

The recent increase in the amount of data generated, stored and analysed by insurers to establish their pricing and underwriting policies has led to the emergence of new needs both from a regulatory point of view, with the recent implementation of the European framework of the General Data Protection Regulation and with a view to offering new services on the market (cyber risk).

30 September 2019 - By Eoin O'Baoighill, Eamonn Phelan

This briefing note discusses some of the tools and techniques that can be used to validate and understand black box models.

24 September 2019

The Segal Blend method of determining withdrawal liabilities in multiemployer pension plans was ruled improper in a recent case with the New York Times but it has been upheld in others, leaving the issue open for future challenges.

23 September 2019 - By David D. Evans, Nancy P. Watkins

This article provides an overview of the trends in the U.S. private flood market.

23 September 2019 - By Rachin Aggarwal, Abhishek Agrawal

This article examines how the concept of a standard health product would benefit various stakeholders in India.

20 September 2019 - By Anne C. Kallfisch, Dana S. Ryan

Insurtech presents unique opportunities for new and established insurers in the title space to innovate and gain market share.

18 September 2019 - By Heerak Basu, Richard W. Holloway, Philip Jackson, Sanket Kawatkar

This e-Alert provides background on the emerging Bangladeshi life insurance market.

17 September 2019 - By Aisling Barrett, Eamon Comerford, Joseph Sloan

A breakfast briefing on investment strategies under Solvency II.

16 September 2019 - By Mike Hamachek, Christopher Kunkel

What happened in the first year of Merit-Based Incentive Payment System reporting?

16 September 2019 - By Molly Barth, John W. Rollins

The visibility of climate’s impact on property hazard is increasingly leading individuals and their chosen leaders to ask: how might an increase in hazard affect the desirability of living in various communities, and how do we manage the socioeconomic impacts?

13 September 2019 - By Chihong An, Stephen H. Conwill, Michael Daly, Richard W. Holloway, Wen Yee Lee, Paul Sinnott, Wing F. Wong

The Milliman 2018 Embedded Value Results: Asia report provides in-depth analysis of the embedded value methodologies and assumptions adopted as well as the impact of key regulations and other market developments in the region.

12 September 2019 - By Patrick Meghen

With the recent increase in regulatory focus on outsourcing, (re)insurers need to ensure that their system of governance, risk management and monitoring of outsourcing arrangements all satisfy the expectations of the regulator.

11 September 2019 - By Carol Bazell, Dane Hansen, Pamela M. Pelizzari, Bruce S. Pyenson

This report discusses the economic and clinical burden of new osteoporotic fractures that occurred in 2015 in the Medicare fee-for-service population using information from a large administrative medical claims database.

10 September 2019 - By Joe Becker

Global equities notched their worst month of the summer amidst heightened volatility.

09 September 2019 - By Chihong An, Stephen H. Conwill, Michael Daly, Richard W. Holloway, Wen Yee Lee, Paul Sinnott, Wing F. Wong

This report compares and contrasts the various different approaches taken to embedded value reporting across Asian markets and insurers.

09 September 2019 - By Joanne Buckle, Tanya Hayward

This paper outlines some of the key considerations associated with using real-world data to widen the evidence base used in economic evaluations.

06 September 2019 - By Charles J. Clark, Zorast Wadia

In August, the funded status deficit of the 100 largest corporate defined benefit pension plans increased by $87 billion as measured by the Milliman 100 Pension Funding Index.

05 September 2019 - By Daren Lockwood, Xiaohong Mo, Adam Schenck

The expected hedge cost for a hypothetical GLWB block (see Index Methodology1) is estimated to be 211 bps as of the end of August 2019, up 38 basis points from the previous month, driven by a decrease in long-term interest rates.

03 September 2019 - By Joe Becker

Market observers have posited in recent years that Volatility Control funds represent a focal point of instability for financial markets.

30 August 2019 - By Rachel Soich

Due to the growing instability of directors and officers coverage, insurers have their eyes on three rising risks: increased securities action lawsuits, heightened awareness to social issues, and growing cyber risks and data protection laws.

29 August 2019 - By Clement Bonnet, Scott Chow, Michael Daly, Janice Wang

The Milliman Fulfillment Ratio Index covers Hong Kong life insurance companies representing a significant market share as measured by in-force premiums.

23 August 2019 - By Dana-Marie Dick, Natasha Singhal

This paper considers the current and developing regulation, in the UK and Europe, surrounding climate change-related risks, the risk identification and risk management practices available to insurers and examples of the key challenges faced by insurers in response to climate change.

23 August 2019 - By Raji Bhagavatula, Mark Goldburd, Manyi Luo , Jason L. Russ

The U.S. property and casualty insurance industry as a whole has experienced significant deterioration in loss ratios for general liability in calendar years 2015 to 2018.

23 August 2019 - By Neil Dissanayake, Peter Lin

Equity markets had a modest performance in July as the US Federal Reserve lowered interest rates by 25 points for the first time in 11 years.

22 August 2019 - By Clement Bonnet, Scott Chow, Michael Daly, Paul Sinnott

This e-Alert gives an overview of the latest Quantitative Impact Study (QIS) 3 specifications and highlights some of the key differences with QIS 2.

22 August 2019 - By Cory Gusland, Daniel Henry, Raheel Sohail

This paper explores key model features of the Center for Medicare and Medicaid Innovation’s Primary Care First, a new voluntary payment model focused on primary care.

21 August 2019 - By Chris Beck, Chris Harner

There is a significant need in the market to transform cyber assessments, information technology metrics, and information security into the common language of risk management.

20 August 2019 - By Rachin Aggarwal, Joanne Buckle, Vidhi Gupta, Neha Taneja

This paper looks at the key provisions of the Mental Healthcare Act, 2017, mental illness prevalence, supply-side indicators and the current treatment gap.

20 August 2019 - By Robert Eaton

Combination products provide valuable, and often substantial, health insurance coverage in the framework of a life insurance or annuity policy.

19 August 2019 - By Brian Colgan, Halim Gunawan, Richard W. Holloway, David Kong

Developments in the Indonesian life insurance industry during the period 1 April 2019 to 30 June 2019

01 August 2019 - By Aisling Barrett, Eoin King

In this presentation given at the Society of Actuaries in Ireland’s Annual Convention, Aisling Barrett and Eoin King discuss their experience of the Reviewing Actuary role (having both been part of teams performing the review as well as being part of teams subject to review by another Reviewing Actuary).

01 August 2019 - By Tim F. Kempen, Allen J. Schmitz

This report presents the results of our sixth triennial long-term care insurance valuation survey.

26 July 2019 - By Charlie Howell, Michael Leitschkis, Russell Ward

This paper introduces ESG Rebase, a technology capable of accurately translating a baseline risk-neutral Economic Scenario Generator file representing an entirely different set of market conditions, such as nominal yield curve, equity volatility vector or fixed interest volatility surface.

25 July 2019 - By Aaron C. Koch

An interview with Aaron Koch about the current state of affairs in the insurance-linked securities market and how captives are using this segment.

24 July 2019 - By Sinéad Clarke

This briefing note looks at the Year End 2018 Solvency and Financial Condition Reports (SFCRs) of a sample of life insurers based in Ireland and includes analysis of key information included in the Quantitative Reporting Templates published with the SFCRs.

23 July 2019 - By Van Beach

Understanding the business versus the operational skills and activities related to modeling holds the key to the new actuarial operating model.

23 July 2019 - By Patrick Meghen

The amendments to the Solvency II Delegated Regulations resulting from the 2018 interim review have now been published in the Official Journal of the EU.

22 July 2019 - By Heerak Basu, Richard W. Holloway, Philip Jackson, Sanket Kawatkar

This e-Alert highlights the key changes in regulations regarding non-linked and linked insurance products from 2013 to 2019 and discusses the business implications for insurers.

16 July 2019

How will rain and lingering flooding in the Midwest farm belt affect farmers’ choice of planting and insurers’ crop insurance losses?

11 July 2019 - By Brian N. Anderson, Greg Callahan, Michael DiPrima

This article describes the origin of pharmacy benefit managers (PBMs), how claims are processed, and ways in which blockchain could disrupt the PBM marketplace.

09 July 2019 - By Clement Bonnet, Brian Colgan, Michael Daly, Sharon Huang, Farzana Ismail, Philip Jackson, Wen Yee Lee, Atsushi Okawa, Wing F. Wong

This report covers the capital regimes in 10 markets in Asia plus the 2018 International Capital Standard field test.

08 July 2019 - By Ankush Aggarwal, Joanne Buckle, Pravin Harodia

What are the current and potential uses of generalised linear modelling in the Indian health market?

08 July 2019 - By Matthew McIlvanna, Eoin O'Baoighill, Eamonn Phelan

This briefing note summarises EIOPA’s recent report on its thematic review of the uses of big data analytics in motor and health insurance.

03 July 2019 - By Claire Booth, Paul Fulcher, Fred Vosvenieks, Russell Ward

This paper provides some context for a discussion of insurer liquidity risk, exploring sources of that risk and providing some examples of where it has challenged insurers in the past.

19 March 2019 - By Joy A. Schwartzman

As corporate officers reevaluate their current directors and officers coverage, it is important to thoroughly understand the type of coverage purchased and to quantify a board’s potential risk or “claim severity.”

09 October 2018 - By Andrew Gaffner, Barbara Collier, Joseph Boschert

Screening and risk assessment are critical to exercising sound clinical judgment and making effective care decisions regarding opioid use disorder.

18 September 2018 - By Robert W. Beal, Tasha S. Khan

This report presents the results of Milliman’s 2018 Annual Survey of the U.S. Individual Disability Income Insurance Market.

01 June 2017 - By Tatiana Egoshina, Stuart Reynolds, Philip Simpson

This note proposes a reporting approach that links back to the Solvency II balance sheet and makes an allowance for items of value that may not be included within Solvency II calculations and disclosures.

01 March 2017 - By Jeffery T. Dukes

Discounted accelerated benefits, where the accelerated benefit paid is a present value of expected claims less a present value of future premiums, are often believed to be cost neutral.

01 October 2015 - By Juliet M. Spector, Brian H. Studebaker, Ethan Menges

This paper outlines the general steps and considerations for designing, implementing, and measuring results of existing payment reform models.

22 May 2013 - By Susan J. Forray, Shaun Cullinane

While the lawyers professional liability industry posted strong operating results in 2011, the past four years of operating results have been worse than those experienced in the prior 15 years- even during the previous soft market of the late 1990s through 2001.

25 July 2012 - By Susan J. Forray, Shaun Cullinane

Specialty writers of lawyers professional liability insurance exhibited strong financial results in 2012.

11 June 2012 - By Aldo Balestreri, Luca Cavaliere, Christophe Vallet, Takanori Hoshino, Takahiro Kinoshita

This report introduces modeling practices currently observed in France, Italy, and Japan in order to illustrate various issues that many companies are facing when modeling policyholder dividends under a market-consistent framework.

28 June 2010

The pension funding relief provisions of the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 are generally effective the first day of the first plan year ending after August 31, 2008.

05 January 2009

This Multiemployer Alert focuses on the Worker, Retiree, and Employer Recovery Act of 2008 provisions that demand immediate or near-term decisions by multiemployer plan trustees.

26 May 2007 - By Wayne E. Blackburn, Derek A. Jones, Joy A. Schwartzman

This paper explores the concepts underlying the valuation of an insurance company in the context of how other (noninsurance) companies are valued.

14 December 2006 - By Gary Finkelstein, Takanori Hoshino, Rikiya Ino, Ed Morgan

This report endeavors to answer questions as well as to look at a few illustrative cases of how economic capital can be practically applied. The report will help decision-makers formulate an approach to economic capital that will align with their larger corporate strategies.

- By Michael Taggart, Don Biron

This 2020 market overview highlights some of the changes affecting the health and group benefit administration market that employers need to understand to take advantage of improvements and avoid issues in managing their administration providers.