aaa risk classification

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1、2014-CAS8§19AAARiskClassificationHCM5/13/14,Page1149Section19,AAARiskClassificationStatementofPrinciples832833TheAmericanAcademyofActuaries“RiskClassificationStatementofPrinciples”isashortandratherdryreading.834Therearereasonablenumberofexampointsperpageofthisreading.Doyourbesttogetwhat

2、youcanoutifit,perhapsonlylookingatapageorlessatatime.Trytoconnecttheprinciplestoclassificationsystemsandissuesyouhaveencounteredinyourworkandreading.PrimaryPurposesofRiskClassification:1.Protecttheinsurancesystemʼsfinancialsoundness.2.Befair.3.Permiteconomicincentivestooperateandthusenc

3、ouragewidespreadavailabilityofcoverage.Basicprinciplesofanysoundriskclassificationsystem:1.Thesystemshouldreflectexpectedcostdifferences.2.Thesystemshoulddistinguishamongrisksonthebasisofrelevantcost-relatedfactors.8353.Thesystemshouldbeappliedobjectively.4.Thesystemshouldbepracticaland

4、cost-effective.5.Thesystemshouldbeacceptabletothepublic.StatisticalConsiderationsinDesigningaRiskClassificationSystem:1.Homogeneity2.Credibility3.PredictiveStabilityOperationalConsiderationsinDesigningaRiskClassificationSystem:1.Expense2.Constancy3.AvailabilityofCoverage4.AvoidanceofExt

5、remeDiscontinuities5.AbsenceofAmbiguity6.Manipulation7.Measurability832AmericanAcademyofActuariesCommitteeonRiskClassification,“RiskClassificationStatementofPrinciples,”June1980.CASLearningObjective:A1.Itwaswrittenbyactuariesforactuaries.833InNovember2011itwasupdatedbytheAmericanAcademy

6、ofActuaries,“PublicPolicyMonographOnRiskClassification,”notyetonthesyllabus.834ThisstatementappliestoLifeInsuranceandHealthInsurance,inadditiontoPropertyCasualtyInsurance.ItisrelatedtobutdistinctfromtheActuarialStandardofPracticeASOPNo.12,“RiskClassification(forAllPracticeAreas)”Decembe

7、r2005,notonthesyllabus.835Inmyopinion,principlesnumbers1and2overlaptosomeextent.2014-CAS8§19AAARiskClassificationHCM5/13/14,Page1150NumberofRiskClasses,AdverseSelectionandIndividualEquity:836“Intheprocessofdesigningariskclassificationsystem,theselectionofthenumberofriskclassest