International financial reporting standards and insurance contracts
He covered some introduction and background and the discussion paper and then transitioned to recent events, key projects, profit emergence, and project timetable. His complete presentation is attached.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Gareth Kennedy
Keywords:
International financial reporting standards
Personal lines auto frequency
Keith had us "taking sides" when talking about the effects on auto frequency due to past influences, economic climate, changing demographics, safety technology, legislative, other technology and activities, weather, and internal frequency drivers.
Source:
2009 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Keith Rutman
Keywords:
Personal lines, auto
Principles Underlying Actuarial Science
One of the authors of this paper will discuss the purpose of this educational paper and the background leading to its publication. The scope of the paper will be related to standards applied when performing actuarial work and its role as in articulating significant principles underlying the scientific framework of all areas of actuarial practice will be discussed. Application of the principles will be discussed through examples of work and services undertaken by actuaries in practice. Questions and answers will be encouraged.
Source:
2009 Regional Affiliate - CAMAR
Type:
affiliate
Panelists:
Christopher Diamantoukos
Keywords:
Actuarial Science
The Role Actuaries Plan in Mergers & Acquisitions
Up to 1.5 CE Actuaries play pivotal roles in mergers and acquisitions. While the traditional actuarial scope of most due diligence activities will include estimating unpaid loss liabilities of the target, the actuary's role is often much broader. The panel will discuss the various roles that actuaries play in merger and acquisition transactions.
Source:
2009 Regional Affiliate - CAMAR
Type:
affiliate
Moderators:
L. Conlee
Panelists:
Thomas Myers, Ritendra Roy
Keywords:
Mergers & Acquisitions
Data and Information Quality in a Rapidly Changing World
The focus of insurance information - the type of data, how collected, how used - has been changing dramatically over the past few years, but has data quality and data quality methods and tools kept pace? This session will explore the changing focus of insurance information, the expanding reach of data quality (to predictive modeling, the reuse of data, data standards, data transparency, and a tool to monitor solvency, etc.) and the impact of these changes on companies and the industry.
Source:
2009 Regional Affiliate - CAMAR
Type:
affiliate
Panelists:
Peter Marotta
Keywords:
Data and Information Quality
Impact of the Economy on Workers Compensation Insurance
We will examine the impact of the economic cycle on workers' compensation insurance. We will review historical data and trends for various industries and discuss the implications for workers' compensation insurance. We will focus separately on exposures, claim frequency, indemnity and medical severity, and investment income.
Source:
2009 Regional Affiliate - CAMAR
Type:
affiliate
Panelists:
Martin Wolf
Keywords:
Workers Compensation, Workers Compensation Insurance, economy
The Fundamentals of Reserve Variability: From Methods to Models
We will discuss the differences between using a variety of deterministic methods to calculate a range versus using stochastic models to calculate a distribution. Current standards of practice refer to "best estimates" but the industry is actively pursuing the use of distributions and some countries, such as Australia, already require reserves to be set using a percentile of the distribution. We will briefly discuss some considerations related to our evolving standards of practice, but the primary focus will be the criterion the practicing actuary can use to help evaluate stochastic models in their search for the model that best fits the data.
Source:
2009 Regional Affiliate - CAMAR
Type:
affiliate
Panelists:
Mark Shapland
Keywords:
Reserve Variability
Florida Catastrophe Fund
Florida Catastrophe Fund
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Jason Masch
Keywords:
Catastrophe
Innovations and Value Creation in Predictive Modeling
Innovations and Value Creation in Predictive Modeling
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Robert Curry
Keywords:
Predictive Modeling
IFRS and accounting issues
IFRS and accounting issues
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Ken Kruger
Keywords:
IFRS and accounting issues
primer on collateralized debt obligations (CDOs) and credit default swaps (CDSs)
will provide a primer on collateralized debt obligations (CDOs) and credit default swaps (CDSs).
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
MaryAnn DiMaggio
Keywords:
collateralized debt obligations
Enterprise risk management
enterprise risk management
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Laureen Regan
Keywords:
Enterprise risk management
Code of Professional Conduct and Actuarial Standards of Practice
will discuss the goals of the board and issues relating to the Code of Professional Conduct and Actuarial Standards of Practice.
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Al Beer
challenges faced by property/casualty insurers
Discuss the challenges faced by property/casualty insurers, where the P/C market may be headed, and what companies can do to be well positioned in the market.
Source:
2009 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Matt Mosher
Keywords:
property/casualty, challenges
Ceding Company Considerations
Ceding companies consider many issues when purchasing reinsurance. Among these include service quality, structuring expertise, analytical services, data work and technology. Also included within these considerations are security criteria and valuation, ratings agency assistance, loss payment and collection, and market access. The panelists will discuss these issues and considerations from a ceding company perspective.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
L. Conlee
Panelists:
Brian Mahon, Ronald Pridgeon
Keywords:
Ceding Company Considerations, service quality, structuring expertise, analytical services, data work and technology, security criteria and valuation, ratings agency assistance, loss payment and collection, and market access
Environmental Insurance
This session will present an overview of Environmental Insurance from both underwriting and actuarial perspectives. The session will cover the origins and development of the market, common coverages, data issues, and current actuarial approaches to pricing and reserving.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
L. Conlee
Panelists:
Jennifer Kish, Richard Corbett, Kate Dodge
Keywords:
Environmental Insurance, underwriting, actuarial perspectives, common coverages, data issues, and current actuarial approaches to pricing and reserving
Research Corner
Hosted by the CAS Reinsurance Research Committee, the Research Corner is a forum to present preliminary reports on works in progress or recently completed. Research Corner participants can pose new problems and demonstrate innovative practical approaches. Individual investigators as well as representatives of research working parties and other groups are encouraged to participate. There is no need to preregister—“walk in” speakers are most welcome, though advance notice is appreciated whenever possible. Speakers should plan on having ten to fifteen minutes to make their presentation. Attendees who would like to present their work during this session are invited to contact the moderator.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
L. Conlee
Panelists:
Paul Kneuer
Keywords:
CAS Reinsurance Research Committee, Research Corner, research working parties
The Credit Crisis and Associated Liabilities
2007 and 2008 saw significant exposures due to what were initially the result of deficiencies in sub-prime lending, but expanded and ballooned into the overall credit crisis. As this crisis has had extreme effects on the global economy and many long-standing institutions, remembering the potential impact to the insurance and reinsurance business is highly important. As these claims may take several years to unfold, companies writing professional liability line of business are exposed to potential liabilities. The panel will discuss coverage implications, loss estimation processes, and market effects from the crisis.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
L. Conlee
Panelists:
Francois Morin, Jennifer Salyer, Bill Barbagallo
Keywords:
sub-prime lending, Credit Crisis and Associated Liabilities, discuss coverage implications, loss estimation processes, and market effects from the crisis
Investments and ERM-a Credit Crunch Perspective
This session will discuss investment issues for (re)insurers particularly with relation to the credit crunch environment of 2008/09.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
Lixin Zeng, Steven Jakubowski
Keywords:
(re)insurers, credit crunch, investment issues
Rate Monitoring
The Rate Monitoring process has evolved considerably over the past decade. Most primary insurance companies have developed rate monitors with varying sophistication. The process is fairly straightforward for operations writing only Primary business, since policy limits and deductibles are generally somewhat contained and stable. However, for operations writing Excess/ Umbrella business, or certain non-standard lines of business, such as D&O, the process becomes more complex. This session will explore some approaches taken by such entities.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
Louis Gariepy, Michael Quigley
Keywords:
Rate Monitoring, primary insurance companies, rate monitors, Excess/ Umbrella business, or certain non-standard lines of business, D&O, policy limits and deductibles
Trend: Record Spending Future
Trend is a major component of any actuarial pricing exercise. Should we be modeling trend in different ways (stochastically, index, bureau approach)? This session will discuss what impacts of the economic downturn, and government spending initiatives on the trend indications going forward. Could we be headed for deflation or record setting inflation? Panelists will address some of these various issues related to Trend.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
Spencer Gluck, Jeffrey Dollinger, Jon Mossman
Keywords:
actuarial pricing exercise, economic downturn
Climate Change: Fact vs. Fiction and Implications for our Profession and Industry
This session will discuss climate change issues from both a scientific view and an insurance industry view. An indepth scientific view will separate fact from fiction regarding global warming. The insurance industry view will discuss the implications of climate change for the actuarial profession and the insurance/reinsurance industry as a whole. In addition, the CAS recently created a new Committee to address climate change issues. This session will also address the charge of this Committee.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
Douglas Collins, Katharine Hayhoe
Keywords:
climate change, scientific view, insurance industry view, insurance/reinsurance industry
Unstable Loss Development Factors
Most actuaries learn loss development on the job and pick up whatever techniques are being used by those around them. The authors circulated a somewhat-unstable loss triangle and got development factor selections from 51 actuaries. The paper describes the wide range of results and the wide range of approaches taken by these 51 actuaries.
In presenting the paper, the authors will discuss the results of the survey, make some comments on the various approaches taken by the participants, as well as discussing the implications of this survey for actuarial education and for the "science" in actuarial work.
Source:
2009 Seminar on Reinsurance
Type:
paper
Moderators:
Richard Anderson
Panelists:
Gary Blumsohn, Michael Laufer
Keywords:
loss development
Capital Markets Update
The recent turmoil in the capital markets has had a profound impact on the world of reinsurance. This session will discuss the changes in investor attitudes towards Cat bonds and sidecars as well as general views regarding traditional investment in reinsurance companies.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
J. Brosius, Sean McCarty, Manoj Gupta
Keywords:
capital markets, reinsurance, Cat bonds and sidecars
Federal Reinsurance/Insurance Issues: Where Do We Go From Here?
With a new President and Congress, what are some of the likely Federal regulatory and state related specific Cat driven issues (Florida and the Gulf Coast States) as well as taxation of onshore vs. offshore reinsurers which could profoundly change the industry. Speakers will provide updates on current initiatives from the States and the Capitol and what discuss what their impact or importance is to a pricing actuary.
Source:
2009 Seminar on Reinsurance
Type:
concurrent
Moderators:
Richard Anderson
Panelists:
Bradley Kading, Tracey Laws
Keywords:
Federal regulatory and state related specific Cat driven issues, taxation of onshore vs. offshore reinsurers