Births, Marriages, and Divorces

A NY Times report on a National Center for Health Statistics study indicates that U.S. birth, marriage, and divorce rates all fell slightly during 2009. The 100-year births-per-year graphic is nice - for example, one can see what happens to the birth rate during recessionary or expansionary periods.

- Rick

Cost of Motor Vehicle Crash Injuries

A recent study by the Centers for Disease Control and Prevention, as reported in Insurance Journal, finds that the annual medical care and productivity costs associated with motor vehicle crash injuries totals over $99 billion, or nearly $500 per licensed U.S. driver.

- Rick

Life Expectancy After Retirement

Here is a nice chart showing, for several countries, the increase in life expectancy after retirement over the last roughly 40 years. Important data for anyone discussing whether or not to increase retirement ages necessary for full benefits.

- Rick

Boys versus Girls

Today's (February 18) Chicago Tribune (page 25, first page of the Business section) has an article titled "Teen Risk Gap Shrinks" (link here). According to the article (which references a new Allstate Foundation report), the gap between teen boys and teen girls in terms of driver risk has been diminishing. Historically, teen boys have been much riskier drivers, and more costly to insure, than teen girls -- but that gap is now characterized as narrowing.

Although... The article keeps referring to teenage girls as "admitting to" speeding, texting, etc., more often than teenage boys. It will be interesting to see whether this survey-type data, which I would think depends upon the honesty of those surveyed, is ultimately borne out by future emerging loss data...

By the way... It still shocks me that anyone would even think about texting while driving. It perhaps shocks me even more that we often have to engage in societal arguments about whether or not it should be illegal...

- Rick

Using the Terminally Ill Against Insurers

In Tuesday's (February 16) Wall Street Journal, page A1, there is a very interesting article titled "Investors Recruit Terminally Ill To Outwit Insurers on Annuities." Well worth seeking out for actuaries and actuarial science students.

We certainly seem to be in an environment these days in which anything goes against the "big, bad" insurers...

- Rick

Risk Interrelationships

This "Risks Interconnection Map" from the World Economic Forum 2010 is interesting. You can move your cursor around and click on the risk nodes, providing additional information regarding the frequency, severity, and interconnections associated with that risk. Fun to play with -- and a nice example of the kinds of things we are all doing in Enterprise Risk Management and related areas.

- Rick

Terrorism Risk in Context

A key role played by actuaries and risk managers is the assessment of risk. An article in today's Wall Street Journal, "Undressing the Terror Threat," attempts to put the risk of terrorist attacks into perspective, and some some interesting statistics.

Also, see the accompying text, "Crunching the Risk Numbers."

- Rick

Organ Recital

"The Meat Market" is an interesting article in today's (Jan. 9, 2010) Wall Street Journal, discussing the current situation with respect to organ donation, shortages of needed organs, and possible approaches to providing incentives to increase donations. Relevant to actuarial science for the topic's potential impact on health care costs, healthiness and longevity (perhaps of both recipients and donors), etc.

- Rick