Moderator's Remarks

What does “open competition” really mean? It means what I choose it to mean-neither more nor less. It also means different things to different people. This fact provided the idea for the format of our presentation, i.e., each panelist will discuss what open competition means to him as an insurance department actuary, a bureau and company actuary, a consulting actuary, and a college professor (and consumer) of insurance, respectively. The “open competition” label has been applied to the differently worded laws of several states, and, therefore, the meaning of the label is apt to vary geographically. New York, Illinois, and Minnesota, which are among the “open competition” states, are represented on our panel.