Last year, I recorded a podcast episode with Frank Grossman, discussing a research project he completed looking at ethical concerns within the profession. I’ve known Frank for over thirty years, and I don’t think we have ever had a conversation that lasted less than an hour, so I wasn’t surprised when we continued talking for another forty minutes after the recording was completed.
New research by the Canadian Institute of Actuaries reveals that low reserve fund contributions will likely lead to overwhelming annual increases and require lump-sum payments from owners to cover shortfalls, and could potentially lead to the loss of homes, especially in the context of rising interest rates.
The experience related to the impact of COVID-19 on lapse/persistency of life and health insurance contracts is just starting to emerge and life insurers are monitoring this experience closely. Amal Rajwani and Dan Doyle discuss short-term and long-term considerations in relation to lapse and persistency.