Fairness is an important feature of pension systems, but it is a wide concept with multiple sides. In this chapter, we try to distinguish some of them with the aim of using the terms in a proper manner. More specifically, we have observed at least five meanings for the notion of fairness when...

In this paper, we investigate the fair valuation of insurance liabilities in a dynamic multi-period setting. We define a fair dynamic valuation as a valuation which is actuarial (mark-to-model for claims independent of financial market evolutions), market-consistent (mark-to-market for any...

We defend, from a contractarian perspective, that the fair price of an insurance policy is the amount that the contracting parties agree when they are both equally uncertain about the insured event. Drawing on the approach developed by R. Sugden in The Community of Advantage, we answer two...

We give a general discussion of linear mixed models and continue with illustrating specific actuarial applications of this type of models. Technical details on linear mixed models follow: model assumptions, specifications, estimation techniques and methods of inference. We include three worked...

We start with a discussion of model families for multilevel data outside the Gaussian framework. We continue with Generalized Linear Mixed Models ([GLMMs]), which enable generalized linear modeling with multilevel data. The Chapter includes highlights of estimation techniques for GLMMs, in the...

Explicit actuarial capability frameworks are being developed to measure actuarial quality as a basis for pre- and post-qualification learning goals. These frameworks focus on the development of broader and normative capabilities that can be described as actuarial judgement. This paper explores...