1. Edvard W. Frees is Assurant Health Professor of Actuarial Science, School of Business, University of Wisconsin, Madison, WI 53706 . Emiliano A. Valdez is Professor of Actuarial Science, Department of Mathematics, University of Connecticut, Storrs, CT 06269-3009 . The authors acknowledge the research assistance of Mitchell Wills, Shi Peng, and Katrien Antonio. The work of Frees was supported by the National Science Foundation (grant SES-0436274) and the Assurant Health Insurance Professorship. The work...