Society of Actuaries News

Actuaries Estimate Four Years of Opioid Crisis Cost Economy $631 Billion

The opioid epidemic cost the U.S. economy at least $631 billion from 2015 to 2018, according to a Society of Actuaries’ (SOA) analysis of non-medical opioid use during this timeframe. The SOA report, authored by Milliman, also projected future costs …

Actuaries Face Uncertainty Amid Encroachment by Data Scientists

Riley Howsden has one of those hip jobs everyone loves to hate. He works at L.A.-based video game producer Riot Games, where business attire includes hoodies, the food comes free and his job entails deducing what kinds of products gamers …

RMS Peru Earthquake Model and Actuaries Climate Index Are Launched

RMS and a group of actuarial societies each rolled out new products designed to respectively help measure risks related to earthquake and weather events. In RMS’ case, the catastrophe modeling firm gained regulatory approval in Peru to start marketing its …

Actuaries Have Disappointing News for Americans Including Millennials

Death awaits all of us, but how patiently? To unlock the mystery of when we’re going to die, start with an actuary. Members of this 200-year-old profession who study risk and uncertainty pore over the data of death to estimate …

Study Shows Medical Claims Cost Increasing in Delaware

A new study says medical claims costs in Delaware will increase by almost 30 percent for individual policies under President Obama’s health care reform plan. The report released Tuesday by the Society of Actuaries says medical claims costs in Delaware …

Report: Massachusetts to See Drop in Medical Claims Costs

Medical claims costs are expected to soar in many states under President Barack Obama’s health care overhaul. Massachusetts is an exception. A new study by the nation’s leading group of financial risk analysts, the Society of Actuaries, has found that …

Actuaries: Health Costs to Go Up No Matter What Court Decides on Law

As the country awaits the highly anticipated ruling by the U.S. Supreme Court to uphold or overturn the Patient Protection and Affordable Care Act (ACA), the actuarial experts who price are warning that health insurance costs will likely continue to …