Medical Professional Liability: Where Do We Go From Here?
This session will address the latest trends in Medical Liability Insurance and their impact. Have medical schools been successful in teaching better bedside manners to new graduates? Is saying “sorry” an effective way to reduce lawsuits? Are all physicians likely to be hospitalists? What are the long-term effects of pending Healthcare legislation and the Supreme Court decision in June? What are the real trends in frequency, severity, premiums, and available capacity? A very experienced and distinguished panel will discuss these key questions for this insurance segment from a practical point of view.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
James Merz
Panelists:
Kevin Bingham, Kimber Lantry, Elke Kirsten-Brauer
Link between Pricing and Reserving
This session will connect the pricing and reserving processes and link the roles played by pricing and reserving actuaries. This session will address the impact of pricing on reinsurance reserving, including how to recognize the issues and their implications, special Cat reporting issues, and identifying cycle changes through emergence testing and loss ratio estimations. Closing the feedback loop will involve spotting the issues and monitoring the results. The session will also focus on how to incorporate the output and indicated action steps from the reserving analyses into pricing.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
James Merz
Is That A Worm Or A Bot? - Cyber Liability Insurance
Cyber Liability and Network Security insurance are new coverage concepts that are evolving at an amazing pace every day. There are lots of questions surrounding these concepts such as: What are the risks and how do you insure them? What is the coverage and what types of businesses need to have this coverage? What does this mean for your company, be it a primary insurer, a reinsurer, a broker, or a consultant? And, most importantly, what does it mean to your clients?
Our speakers will present their views on current trends for this line of business as well as the pain points of the marketplace as they answer these and other important questions. The speakers are knowledgeable and among the veterans of this recent and fast growing coverage. They will share their experience from the point of view of a primary insurer and reinsurance company.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Panelists:
Jane Taylor, John Merchant, Michael McCarthy
International Pricing Approaches - Property
This session will further extend the above concepts and techniques to International Property lines of business. Similarities and differences between U.S. and European data sources, curve applications, coverage adjustments and validations will be discussed. This session will include a case study approach to highlighting sensitivities and pitfalls of applying U.S. and other benchmarks in exposure modeling as proxies to other countries. The perspective of an international claims expert for Cat and non-Cat claims is expected to be included.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
Manolis Bardis
Panelists:
Amit Parmar, Michael Cane
International Pricing Approaches - Casualty
This session will apply and extend the above concepts for International Casualty lines of business. Similarities and differences between the U.S. and European cultures and approaches will be discussed. Different data sources, benchmarking uses, and coverage adjustments will be highlighted. This session will include a case study approach to highlighting sensitivities and pitfalls of applying U.S. and other benchmarks in exposure modeling as proxies to other countries.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
Manolis Bardis
Panelists:
Ana Mata, Robert Bender
Intermediate/Advanced Exposure and Experience Rating
This session will build upon last year’s INTMD-1 and INTMD-2 materials and will presuppose familiarity with the basics of exposure and experience rating methodologies. This session will quickly review those materials, including the case study and puzzle solving that was presented, and extend that material. This extension will include the usage of more advanced techniques to address common excess rating challenges, trending issues for large claims, information lags, emergence testing, assessing confidence in benchmarking practices, and ultimately leading to enhanced underwriting cycle management.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
Manolis Bardis
Panelists:
Dave Clark, John Buchanan
Hot Topic in Workers Compensation
We will explore two critical elements faced by everyone involved in pricing and reserving workers compensation business; workers compensation excess loss development and pain management.
WC Excess Loss Development: The speaker will discuss the finding from the latest update to the NCCI WC Excess Loss Development Study. The NCCI analysis is based on a review of 26 years of large claims. The discussion will explore some of the interesting findings including the following:
Do large claims actually develop downward?
Do large losses develop differently for deductible business?
How do medical lump sum settlements effect large loss development?
The “Pain”ful Truth about Workers Compensation Medical Severity Trends: This speaker will discuss a hot topic in the workers compensation medical arena – pain management. Improper pain treatment drives up medical and indemnity claims costs. This fact has even reached the mainstream media, with myriad of stories reporting physicians over-prescribing high-potency prescription drugs to workers compensation claimants. This discussion will include opioid usage and its effect on claim duration, medical cost, abuse addiction and claim settlements.
Source:
2012 Seminar on Reinsurance
Type:
concurrent
Moderators:
Manolis Bardis
Panelists:
Joseph Paduda, Jonathan Evans
Basics of Capital Modeling
Source:
2012 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Hyeji Kang
Validating Predictive Models
Source:
2012 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Christopher Monsour
MegaTrends and MicroTrends: The Past and Future of P/C Insurance
Source:
2012 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Steven Weisbart
Lights! Camera! Professionalism!
Source:
2012 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Patrick Gilhool
Workers Compensation Overview
Source:
2012 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Robert Moss
Hands on: How to use Generalized Linear Models to Model Loss Triangles
This is a hands-on session. Bring your fully charged laptop, and have Excel and the Solver add-in activated.
Participants in this session will learn how to use a simple generalized linear model (GLM) to model a loss triangle. Like the chain ladder, a GLM captures accident year and development year trends, but it can also capture calendar year trends. You need to know your historical calendar year trends to understand how changing future trends can affect your pricing and reserving. This is a key risk in the current uncertain inflationary environment. By the end of this session, you will understand how the basic GLM model works for a loss triangle. No prior knowledge needed.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Federal Crop Insurance Program
This session will focus exclusively on the Federal Crop Insurance program. This will include a description of coverage offered to farmers, the operational differences between the program and traditional Property/Casualty insurance, changes introduced by the 2008 Farm Bill, the renegotiation of the Standard Reinsurance Agreement effective in 2011, the outlook for the 2012 Farm Bill, the effect of recent rate activity on the profitability of the program, as well as the potential impact of the 2012 drought.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Frank Schnapp
Update from the CAS Board
This session will discuss recent CAS Board initiatives and strategic objectives. Topics will include:
CAS Mission and Strategic Planning
SOA's general insurance track
Future CAS Education initiatives
Chartered Enterprise Risk Analyst (CERA)
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Gary Josephson
Storm activity - Is There Evidence of a Long Term Trend?
Natural catastrophes and storms have stolen the headlines over the past few years and are on the minds of actuaries at most property exposed insurance companies. In this session we will review historical weather data and look for long term trends to assist us in making more informed decisions.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Scott Jean
Professionalism and the Casualty Actuary
While our actuarial education provides us with the requisite knowledge to practice as actuaries, the scope of our practice is guided by professionalism requirements. This session will discuss relevant professionalism requirements, including:
Code of Conduct
Actuarial Standards of Practice
Continuing Education Requirements.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Gary Josephson
Price Change/Price Adequacy Measurement Systems
Most insurance companies attempt to capture the impact of price changes and quantify their effect on overall rate adequacy. However there is no standard method in use in the industry today. This presentation talk about the uses of price monitoring and will present several methods for calculating price change and price adequacy change metrics. The price metrics will be demonstrated and compared using a common sample set of policies. The session will wrap up with a brief discussion on the challenges and decisions one faces when setting up a price monitoring system.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Anthony Hill
Lunch Speaker: U.S. Solvency Regulation -- Impact on P&C Actuaries
Since 2008 through the NAIC, state insurance regulators have embarked on a process to improve the insurance solvency regulatory framework in the U.S., including a review of international developments and other potential options for use in U.S. Insurance regulation. This session will focus on the changes in regulatory reporting likely to have an impact on actuaries and will compare the new U.S. regulatory framework to the EU's proposed Solvency II.
Source:
2012 Regional Affiliate - CSAF
Type:
affiliate
Panelists:
Kris DeFrain
Catastrophe Models
Source:
2012 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Martin Simons
Ratemaking Work Product
Source:
2012 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Martin Simons, Rebecca Williams
Problems and Alternatives to Capital Allocation
Source:
2012 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Leigh Halliwell
Loss Reserve Development Risk
Source:
2012 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Gene Connell, Han Chen
Emerging Issues in the CAS
Source:
2012 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Jeanne Crowell
The NCCI Experience Rating Plan: the Recent Revision, and a Fresh Perspective
This recent revision to the NCCI Experience Rating Plan is a major one, not seen for more than 20 years. The current Advanced Ratemaking exam syllabus has not yet reflected this update. Key features include indexing the primary and excess loss split point to inflation. This presentation will explain why this feature is crucial for the long-term health of the plan, and also discuss how the plan can be viewed from a predictive modeling perspective even if an alternative method is used to create the plan. This untraditional view allows us to ask several meaningful questions and help plan users find better ways to serve their customers.
Source:
2012 Regional Affiliate - CANW
Type:
affiliate
Panelists:
Penglin Huang