190 Abstracts and Reviews

as in Germany up to now for this purpose no useful

071101 (E61)
The role of government in the United States in
addressing natural catastrophes and environmental
exposures.
Nutter F.W., The Geneva Papers on Risk and
Insurance, Vol. 19, nr. 72, July 1994, pp. 244-256.
Insurers doing business in the United States today are
faced with extraordinary potential losses from natural
catastrophes and skyrocketing claims for the clean-up of
hazardous waste sites pursuant to the "Superfund" law.
In both cases, U.S. insurers are turning to government
as a partner in addressing these exposures. (Author)
Keywords: Natural Catastrophes, Superfund.
071102 (E61, M31, B40, B41)
A comparative analysis of 30 bonus-malus systems.
Lemaire J., Zi H., University of Pennsylvania, Astin
Bulletin, Vol. 24, No. 2, 1994, pp. 287-310.
The automobile third party insurance merit-rating
systems of 22 countries are simulated and compared,
using as main tools the stationary average premium
level, the variability of the policyholders' payments,
their elasticity with respect to the claim frequency, and
the magnitude of the hunger for bonus. Principal
components analysis is used to define an "Index of
Toughness" for all systems. (Authors)
Keywords: Automobile Third Party Insurance, Merit-
rating Systems.
statistical material about mortality of assured lives
exists. Its use ordinary guarantees, that the prospective
premium reserves are rated sufficiently. Thereafter,
criteria were developed, which guarantee a comparable
degree of certainty, when they are observed in case of
a possible development of deviating corporate mortality
tables. (Author)
Keywords: Mortality, Germany.
E62: I N T E R N A T I O N A L SURVEYS
071104 (E62, B81)
Retirement policy - an international perspective.
Latulippe D., Transactions of the Society of Actuaries,
Vol. XLV, 1993, pp. 187-214.
Through a review of legislative and policy provisions,
this paper highlights national differences in retirement
policy and identifies alternative retirement policy strate-
gies. The countries studied are France, Germany, Japan,
Sweden, the Netherlands, the United Kingdom, and the
U.S. In addition to the traditional tools of retirement
policy - normal, deferred and early retirement - other
areas of policy with a potential impact on retirement are
studied. Data on retirement experience also are
presented and discussed. (Author)
Keywords: Retirement Policy.

071103 (E61, B10)

Construction of an appropriate mortality table for
whole life assurances.
Loebus H., Hamburg, Bl?itter der Deutschen
Gesellschafi fiir Versicherungsmathematik, Band XXI,
Heft 4, 1994, pp. 497-524.
Since construction of the last association mortality
table of assured lives 1986, which is based upon the
German Population Mortality Table 1981/83, the relative
mortality rates have substantially decreased. In view of
the lapse of licensing requirement by the German
federal supervisory office for insurance companies from
July 1st 1994 the DAV-committee "Life-lnsurance"
formed a working group with order to construct among
others an appropriate mortality table for whole life
assurances. At first a mortality table - the DAV-Mortali-
ty-Table 1994T - was constructed. The last German
Population Mortality Table 1986/88 was taken as basis,