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STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
But you may use the Capability Model now to help you identify topics. For example, if you want to move up one level under the content area “Functional Expertise,” you may search topics in the particular functional area to expand your knowledge.
Recorded content is searchable by Capability Model attribute and level in the CAS Online Library.
Medical Professional Liability: Effects of the New Healthcare Law
Three highly experienced panelists will present the current state of the Medical Professional Liability (MPL) market. The panel will provide information on how the MPL market is likely to change due to the supreme court decision to approve the new Health Care Law as constitutional. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6321.html#sthash.Rs2hHI6Z.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Kevin Helman
Panelists:
Kevin Bingham, Brian Ingle, Elke Kirsten-Brauer
Marine Insurance
This is session will have two components. We will first explore the loss exposure of cargo accumulation at ports. Cargo in transit presents a unique challenge as the insured exposures are inherently mobile and accumulated values at ports are uncertain. It is typically a blind spot in Cargo cat modeling. We will explore a technique that has been developed to model the cargo port accumulation exposure of a cedant. We will also discuss lessons learned from the recent experience of Hurricane Sandy at the Port of Newark.
The next session will be an introduction to Marine P&I Reinsurance. In theory, Marine P&I reinsurance should be one of the most easily managed of marine lines. However, in practice it's not quite that simple. Come and find out about:
What P&I (protection and indemnity) insurance is and who writes it
The International Group of P&I Clubs and their pooling arrangement
The International Group Reinsurance Programme
The complications for actuarial pricing for the IGPI Programme
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Kevin Helman
Panelists:
Jason Rosin, Helen Bradley
Is This Truly a Hard Market?
Recent market rate monitors and commentary indicate a significant uptick in pricing. However, looking at the drivers of past hard markets, it is an open question whether this is sustainable. What drives underwriting market cycles? How do insurance and reinsurance results change over the cycle? Can these recent rate increases continue in the current market? This session will explore the divergent views of the market. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6271.html#sthash.B2zwCPp5.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Orin Linden
Panelists:
Raju Bohra, Meyer Shields
International Property
This session will provide a survey of the international property market and benchmarking methodologies, with an emphasis on per risk covers. Similarities and differences between U.S. and various European, Asia-Pacific and other developed and developing country data sources will be discussed. Various curve applications and adjustments for differences such as construction, occupancy, and protection differences (COPEA adjustments) and resulting macro country-wide validations will be explored. This session will include a case study approach to highlighting sensitivities and pitfalls of having incomplete data.
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
John Buchanan, Dave Sandeman, Christie Lee
International Casualty
This session will provide a survey of the various European and worldwide markets and hot topics. The session will explore various localized issues and trends in liability in Europe including claims inflation and propensity to sue in most relevant lines and countries including medical malpractice and European sourced asbestos. Presenters will also provide an overview of the continuing impact that the introduction of annuity-type settlements for large UK bodily injury claims (Periodic Payment Orders or PPOs) has had on insurance and reinsurance markets, including the challenges of introducing "life" aspects to a GI insurance and reinsurance product. The resulting disconnect between insurers and reinsurers, and implications for other European territories will be explored. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6243.html#sthash.iUhi701j.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
John Buchanan, Amit Parmar, Michael Cane, Alessandro Santoni, Dave Sandeman
Incorporating Reinsurance Considerations into Primary Pricing
This session will discuss how reinsurance profitability analysis conducted in a price optimization setting can inform product design decisions. Indeed, as alternative reinsurance arrangements impact the net risk profile of portfolios, they eventually affect underwriting rules, premium income, policy retention, quote conversion patterns, and ultimately, the bottom-line net of reinsurance profitability. However, usual two-dimensional price optimization analyses fail to capture the impact of reinsurance on portfolio metrics by only focusing on portfolio-level trade-offs between top line volume and gross of reinsurance profitability. By adding a third dimension representing reinsurance spend, such analyses can be expanded and lead to better informed product design decisions. This session will present a conceptual framework and discuss practical challenges for implementation, from data gathering to risk modeling and building adequate management information systems and dashboards.
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
Yves Colomb
Hedging Casualty Risk Through Index Products
Insurance-linked-securities are often used to hedge an insurer's exposure to catastrophic property losses. Under an Industry Loss Warranty (ILW), for example, the reinsurance recovery is linked to an index incorporating the entire insurance industry's experience --not just the insurer's. In theory, the insurer's actual losses from some catastrophic event and the value of the index corresponding to the same event should be correlated. The major advantage of an index-based approach is that there is little or no moral hazard; the tradeoff is the presence of basis risk. The near absence of moral hazard not only reduces the cost of coverage but also expands the universe of potential sellers beyond that of traditional reinsurers.
This session explores the potential use of casualty indices in the hedging of casualty insurance risk. We discuss the pros and cons of potential indexed-based products from both the perspectives of insurer and the reinsurer (or alternative capital provider/investors). The development of a market for index-based casualty insurance products creates a new asset class that allows investors to make a "pure play" on casualty insurance risk and provides a more efficient mechanism for insurers to reduce their exposure to systemic casualty "shocks" (the casualty analog to a property CAT). Of particular concern to insurers is exposure to systemic reserve risk (e.g. medical inflation risk for workers compensation reserves), an issue increasingly on the radar screen of rating agencies and regulators.
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
Michelle Harnick, Alex Korb
Flood Risk: Lessons Learned from Hurricane Sandy
Hurricane Sandy caused tremendous losses to the insurance industry. The wind component of the damage is relatively small comparing to the flood component. We will start the session by reviewing PCS' definition for CAT event as well as some historical CAT event, then we will discuss some unique features of hurricane Sandy. In this session we will also show field survey results done after hurricane Sandy. We will discuss the losses from an engineering prospective. Lastly we will discuss some lessons we have learned from the insurance industry about this special hurricane event from a loss prospective. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6285.html#sthash.tz7l34sc.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
William Wilt, Gary Kerney, Ming Li, Cagdas Kafali
ERM Survey Results for Insurers and Reinsurers
How do reinsurers stack up against the larger global insurance industry with their progress towards embracing Enterprise Risk Management (ERM)? Come to this session where the results of two recent ERM surveys will be presented and discussed. Further, we will highlight the results for reinsurers and contrast these findings with the rest of the insurance industry as well as compare the results of the two surveys. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6244.html#sthash.F3l1ukAf.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
Bruce Fell, Henry Jupe, Matthew Ball
Efficient Parameterization of Loss Models, with Examples of Implied Constraints - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6274.html#sthash.tx0pCmTe.dpuf
The presenters will provide examples of how selecting a particular parameter for a distribution can unexpectedly pin down other properties of that distribution. The speakers will also suggest creative ways to build correlation into your modeling results. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6274.html#sthash.tx0pCmTe.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
David Homer, Richard Rosengarten
Cyber Liability
As data storage demands increase exponentially, the cyber risks have reached the cloud layer. As cloud computing becomes the new normal, risk management is more complex. The spectrum of interested (and insurable) parties is broad: cloud providers (infrastructure, software, and platforms for hosting data), end users of cloud services and business and personal customers of end users. We will discuss first and third party coverage; captives, insurance providers of cyber insurance, CGL and specialized data policies. Key risks and actuarial issues around loss of access to data, loss of data confidentiality, and loss of data itself will be addressed via cloud service contracts, insurance and reinsurance. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6320.html#sthash.4n8VKisQ.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Jeffrey Mayer
Panelists:
Christopher Diamantoukos, Gerry Finley, Andrew Lea
Crop Insurance
The 2012 drought provided for an interesting year in Crop insurance. We will discuss crop modeling from a weather based index perspective for the U.S. as well as China. We will also discuss the basics of government protection in crop insurance and how this impacts reinsurance. Finally, we will discuss price/yield correlations and the impact it has on indemnities and reinsurance pricing. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6249.html#sthash.7MKlkH1S.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Lawrence Mirel
Panelists:
Carl Ashenbrenner, Hongtao Wang, James Long
Changing Role of the Reinsurance Broker (What are Broker, Ceding Company, and Reinsurer expectations?)
Many underwriters and actuaries believe that companies, reinsurance brokers, and reinsurers are facing an “analytical arms race” in placing business. What are the expectations of the ceding company from a reinsurance placement and how have they been changing? Actuaries at Brokerage houses as well as at reinsurers face unprecedented weather/social changes, greater availability of large amounts of external data as well as significant regulatory pressures to utilize more sophisticated risk modeling tools (catastrophe, capital, simulation, etc.). This session will explore some of the expectations and analytical tools to address the varying expectations and how actuaries have responded to such. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6332.html#sthash.0u4WJGcc.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Lawrence Mirel
Panelists:
Gilbert Korthals, Paul LeStourgeon
Capital Markets Alternatives: Evolving Role of Reinsurers
There is a growing market for capital markets alternatives to traditional reinsurance risk transfer. What are some of the motivations for investors and companies issuing these securities? How have actuaries been responding and what is their role at reinsurance companies to best assist their company in managing this process. How have reinsurance business models been changing to meet the capabilities required to participate in the Insurance-Linked Securities(ILS) ? These are some of the questions to be answered by our panel. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6331.html#sthash.4zyUXpVz.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Lawrence Mirel
Panelists:
John Ferrara, Steven Webersen
An Actuarial Model of Excess of Policy Limits Losses and An Excel-Based Data Exchange (EBDEx) for Uniform Formatting of Reinsurance Submissions
Excess of policy limits (XPL) losses is a phenomenon that presents challenges for the practicing actuary. Exposure rating seems to be completely unworkable for the challenge of pricing XPL losses; yet often, an exposure rating approach is the only method available. The approach presented incorporates XPL into the classic actuarial framework of frequency, severity, and limited expected value (LEV) of claims. In this way, XPL will simply be part of a broader landscape of claims behavior, and can draw upon and seamlessly integrate with standard actuarial tools for incorporating XPL losses into the pricing of reinsurance contracts and stochastic economic capital models.
Data presented in reinsurance submissions varies greatly from submission to submission. This creates inefficiencies for reinsurers trying to populate pricing models and increases the risk of input errors. This also makes aggregating data across submissions very difficult. An Excel-Based Data Exchange (EBDEx) will be presented as a potential starting point for standardizing the data in reinsurance submissions
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Dragica Grbavac
Panelists:
Neil Bodoff, Dominique Yarnell
A Tale of Two Triggers: Analyzing the Basis Risk / Reward Tradeoff Under Index and Parametric Triggers
Traditional property reinsurance contracts utilize an indemnity trigger, where recovery occurs if and only if underlying net loss exceeds a certain threshold. Some alternative coverage triggers, including index, parametric, blended, and dual triggers will be discussed during this session. Particular attention will be given to the tradeoffs between total cost and transfer of basis risk, both favorable and unfavorable.
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Dragica Grbavac
Panelists:
William Dubinsky
A Shifting Landscape of Solvency Regulation: New Year - New Changes
This session will cover how the NAIC is pressing ahead with the Solvency Modernization Intiative, and introducing explicit Catastrophe Risk Charges to the Risk Based Capital requirements. Own Risk and Solvency Assessment Model Law is going though the state legislatures and will go into effect in 2015. In the meantime, the effective date for the Solvency II Directive is postponed again; Bermuda has its risk-based supervision under control. - See more at: http://cas.confex.com/cas/rein13/webprogram/Session6334.html#sthash.QjLT6MdR.dpuf
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Moderators:
Dragica Grbavac
Panelists:
Alan Seeley, Joseph Sieverling, Sean Moore
(Re)insurance in a Climate of Change
Climate change is a compelling topic for insurers and reinsurers. The plaintiff in Kivalina v. Exxon Mobil has recently petitioned the U.S. Supreme Court for certioriari and other actions and coverage disputes are possible. Potential defendants include the Fortune 1000 --in what could be a replay of the 1980's Superfund coverage battles. Meanwhile, the industry has reacted to changing weather patterns by reducing their exposures in coastal areas, raising premiums, reinsuring their catastrophic exposure, and added hurricane deductibles. Incentives for resiliency products to facilitate adaptation and mitigation to climate change risk are additional alternatives. This panel will address these coverage and industry issues. We will also consider implications for reinsurers and insurers of climate disclosure requirements now in effect in NY, CA and DC which the NAIC is considering mandating nationwide. The speakers will address the importance of sustainability disclosure and reporting for insurers from the perspective of regulation, customers, insureds, and stakeholders.
Source:
2013 Seminar on Reinsurance
Type:
concurrent
Panelists:
Chris Walker, Lindene Patton, Laura Foggan, Sallie Kraus
Lights! Camera! Professionalism!
Source:
2013 Regional Affiliate - MAF
Type:
affiliate
Calamities: Natural and Political
Source:
2013 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Steven Weisbart
Advancing Your Analytic Capabilities
Source:
2013 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Mo Masud, Eric Besman
ERM – What Actuaries Should Expect
Source:
2013 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Susan Cleaver
Retention Optimization
Source:
2013 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Ann Conway
Emerging Issues in the CAS
Source:
2013 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Ann Conway
Economic Scenario Generator
Source:
2013 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Loic Grandchamp
