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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.
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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.
Workers Compensation vs. Group Health
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
John Robertson
Keywords:
Workers Compensation, Health
Homeowners/CAT Issues and How They Affect the Insurance Market as a Whole
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
John Rollins
Keywords:
Homeowners, CAT Issues
Defense Base Act and the War Hazards Compensation Act
The histories of the Defense Base Act and the War Hazards Compensation Act, as well as gave insight on how the wars in Iraq and Afghanistan have impacted the types of claims arising out writing this type of business. The presentation began by giving a history of the Defense Base Act, the types of workers covered by the Act, and the coverage it provides. It then detailed underwriting criteria typically used in writing this type of coverage, including recommended best practices. Roger then relayed some his personal experiences, including how the current War on Terrorism is impacting this type of insurance.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Roger Ellickson
Keywords:
history of the Defense Base Act, underwriting criteria, Terrorism
Risk Transfer Testing
This presentation discussed the processes and methods for performing, documenting, and managing risk transfer analysis. It began by giving an overview of the attestation requirement dictated by current accounting standards. Next, it gave several examples of different methods by which one could meet this requirement. Rob then detailed several risk transfer metrics and criteria as well as information on risk transfer responsibilities regarding controls and monitoring.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Robert Downs
Keywords:
processes and methods for performing, documenting, and managing risk transfer analysis
Update on CAS Working Parties
This presentation detailed what exactly a "working party" is - a task force that relies on the team approach to focus on a specific research project or develop a solution to a specific problem. Next, Leslie discussed which working parties had completed their work and what those working parties had accomplished. These working parties included "Correlations and Dependencies Among All Risk Sources", "Executive Level Decision Making Using Dynamic Risk Modeling", "Elicitation and Elucidation of Risk Preferences", "Quantifying Variability in Reserve Preferences", and "Risk Transfer Testing". Finally, Leslie gave an update on the working parties whose projects were still in-progress, the expected completion dates of the projects, and the goals those projects hoped to achieve.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Leslie Marlo
Keywords:
working party
What Reserve Range Makes You Comfortable?
Tom discussed with the membership different methods of estimating reserve variability and the consequences of using those methods in practice. The methods he detailed spanned the scope of complexity from the very simple (range indicated by your actuarial methods) to the very sophisticated (statistical modeling techniques). Dovetailing nicely with the prior presentation, Tom also discussed how to incorporate your reserve range and your risk work into your Enterprise Risk Management process.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Tom Hettinger
Keywords:
statistical modeling techniques, methods in practice
Enterprise Risk Management for P-C Insurance Companies
This paper examines a conceptual ERM framework for Property-Casualty insurance companies. The presentation identified major risks associated with business operations for P-C insurance companies, addressed current companies' practices, and detailed what the authors believe is needed to promote better ERM practice.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Shaun Wang, Robert Faber
Keywords:
conceptual ERM framework, Property-Casualty insurance companies
Plastic Card Liability Coverage
An interactive session on Plastic Card Liability coverage. They described the coverage (it reimburses the insured for losses resulting from an unauthorized transaction occurring in the insured's credit, debit, or ATM cards), presented specific actuarial challenges associated with the coverage, and asked the audience to brainstorm possible solutions and avenues of research for dealing with those challenges. The actuarial challenges discussed included how to count and record claims, which exposure base to use for pricing purposes, what combination of exposure and/or manual rating to use, and how to structure deductibles, per-event limits, and aggregate limits.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Mark Cis, Rick Prescott
Keywords:
Plastic Card Liability coverage, structure deductibles, aggregate limits
Why Should I Care About International Accounting Standards?
Sam Gutterman, FCAS, MAAA, Price Waterhouse Coopers. The International Accounting Standards Board has been discussing how to account for insurance contracts for almost a decade, yet is only this year planning to expose a discussion paper on the subject. But with accounting standards convergence between the IASB and the FASB, and the growing importance of international regulatory accounting guidelines looking they are for real, all of a sudden concepts such as discounting of loss reserves and explicit adjustment for risk may be required in the next several years. Yes, even you might be affected.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Sam Gutterman
Keywords:
accounting standards convergence between the IASB and the FASB, international regulatory accounting guidelines, loss reserves and explicit adjustment for risk
Non-Traditional Reserving Methods
Ragesh Sahasrabuddhe, FCAS, MAAA, Aon Risk Consultants, will describe a simulation model that helps overcome problems in estimating risk or uncertainty for longer tail lines. The presentation will highlight aspects of professional liability exposures that may be somewhat inconsistent with assumptions underlying traditional actuarial models such as Chain-Ladder and Bornhuetter- Ferguson, and show how these methods use less than 100% of the information available. In addition, professional judgment and the demands of "Sarbanes-Oxley" will be discussed. Although the model will be presented in a medical malpractice context, it may also be used to evaluate D&O, E&O and other professional liability exposures. The paper on the topic has been submitted to the Proceedings.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Ragesh Sahasrabuddhe
Keywords:
Sarbanes-Oxley, simulation model, professional liability exposures, assumptions underlying traditional actuarial models such as Chain-Ladder and Bornhuetter- Ferguson, D&O, E&O and other professional liability exposures
CAS Update
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Keywords:
CAS Update
Directors and Officers
Elissa Sirovatka, FCAS, MAAA, Tillinghast Towers Perrin, will discuss the current state of the D&O marketplace and telling the story using information from their 2005 survey including premium changes by business class, asset size, ownership and for primary vs. excess layers; changes in policy limits and deductibles/retentions by business class, asset size, ownership and for primary vs. excess layers; directional trends in coverage enhancements/exclusions; and, changes in frequency and severity by business class, asset size, ownership. In addition, Elissa will present their view on where they think the D&O marketplace is headed in 2006.
Source:
2006 Regional Affiliate - MAF
Type:
affiliate
Panelists:
Elissa Sirovatka
Keywords:
D&O marketplace, primary vs. excess layers
CAS Panel Discussion
There are many "hot topics" that Casualty Actuarial Society members need to understand and keep current on their status. This session, which will include a member of the CAS Board of Directors, the Chairperson of the Examination Committee and a member of the Long Range Planning Committee, will discuss several of the topics in the limelight such as the rights of Associates, changes to CAS bylaws, travel time, and the long term focus of the CAS. Each of the distinguished panel members will give a brief overview of their respective committee and questions will be welcomed and encouraged.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate,general
Moderators:
Dan Rosen
Panelists:
Susan Gildea
Two Views of Risk in the Post 9/11 Era
This presentation will provide two views of risk in the post 9/11 era. The first view includes a discussion on Managing Natural Catastrophes. The second view includes a discussion relating to Government as the Ultimate Risk Manager.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate,general
Keywords:
Managing Natural Catastrophes, Ultimate Risk Manager
Enterprise Risk Management
Spurred on by rating agency, regulatory and market forces, Enterprise Risk Management is rapidly emerging as an area that insurance companies must address in a more formal manner. Since pricing and reserving are major drivers of insurance risks and returns, and further since these fall within the actuarial responsibility, actuaries are positioned to play a critical role in the ERM process. The panelists will discuss risk / return concepts, the ERM process and the potential role actuaries can and should be playing.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate
Panelists:
John Kollar, Russ Bingham
Keywords:
Enterprise Risk Management
Actuaries in Non-traditional Roles
Pricing. Reserving. Reinsurance. Predictive Modeling. These are the career paths that come to mind when you think of actuarial work. There are actuaries among us who have taken the road less traveled and have found opportunities to use their skills as actuaries to make a difference in other disciplines. This session will focus on the experiences of four actuaries in "Non-Traditional" actuarial roles including Underwriting, Project Management, Legal (Legislation/Litigation), Claim, Financial, and even non-insurance pursuits. Each panel member will provide a description of their unique career path, and then the panel will open the floor up to questions you may have about how to move from a traditional to non-traditional role, the pros and cons of such a move, or others.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Daniel Goddard, Martha Winslow, Kevin Finn
Keywords:
Non-traditional Roles
FLAVORED Models: Risk Management is its Own Reward
Without a consensus on a value-based theoretical framework for risk management, analysts are left hypothesizing risk-reward preferences to guide corporate strategies. Whereas the usual approach considers a two-dimensional risk vs. reward decision space, the "FLAVORED" ("optimal dividends") models considered in this presentation put both risk and reward on the same dimension: market value. The original model dates back to de Finetti 50 years ago, and the models have seen tremendous mathematical development since then. Only recently, however, has this research been related to the literature of corporate finance and hedging. This presentation will show how the models fit naturally within the finance theory canon and discuss solution techniques for more sophisticated, and realistic, versions.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate
Panelists:
John Major
Keywords:
Risk Management
Regression Models and Loss Reserving
Casualty actuaries have begun to turn from deterministic methods to stochastic models. Deterministic reserving methods, such as the chain ladder, Bornhuetter-Ferguson, and Cape Cod, have been to varying degrees either blended or replaced with stochastic models, especially with regression models. This session will show how stochastic reserving relates to and moves beyond deterministic reserving, the progress made to date in applying regression models to loss reserving, and what progress remains to be made. Simple examples will illustrate the theory and will suggest how to apply it to loss reserving.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Leigh Halliwell
Keywords:
Regression Models, Loss Reserving
Captives
This session provides an introduction to captives and some of the issues encountered in ratemaking for them. It will describe various capture structures and domiciles, and discusses the reasons for forming these entities, as well as issues encountered in estimating rates. In addition, a captive manager will discuss the actuarial involvement in the formation and licensing of a captive and with its ongoing operations.
Source:
2006 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Andrew Sargeant, Ann Conway
Keywords:
ratemaking
Medical Professional Liability Update
The Physician Insurers Association of America (PIAA) is a trade association of more than fifty doctor and dentist owned and operated medical professional liability insurance companies. Ed Amsler is the Vice Chair of the PIAA Board of Directors, an accomplished attorney, and a Vice President at Medical Liability Mutual Insurance Company. He will share his view and the PIAA's view on the current condition of the Medical Professional Liability insurance market.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Ed Amsler
Keywords:
Medical Professional Liability
Crop Insurance - Teaching an Old LOB New Tricks
It's not your grandfather's Crop/Hail any more. After a short primer on Multiple Peril Crop Insurance, we will examine how technology is broadening the scope of risk management for America's farmers. This will provide new and unique opportunities for P&C insurers and reinsurers, but also pitfalls for the unwary as well.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Gregg Evans
Keywords:
crop reinsurance
Workers Compensation Update
This session will provide an overview of industry workers compensation results. The presentation will highlight the most current industry financial results, including a review of loss trends, changes in claim frequency and severity, residual market results, and other factors affecting the workers compensation environment.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Karen Ayres
Keywords:
Workers Compensation
CAS / CCA Update
Once again, we will have an update on current matters facing the Casualty Actuarial Society. Don Mango, a member of the Board of Directors of the CAS, will present recent developments in the areas of enterprise risk management, research and publications, governance issues and education.
We will also devote part of this session to introduce the function and mission of the Conference of Consulting Actuaries. This will be led by Al Weller, a former CAGNY President and a member of the Conference's Board of Directors.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Donald Mango, Alfred Weller
The Evolution of Catastrophe Modeling
Catastrophe modeling of insurance portfolios came into focus in the wake of Hurricane Andrew. These tools have since become an intrinsic component of property catastrophe risk management and have come under close scrutiny in recent highly active hurricane seasons. This session will address how the models work, how effective they have been in predicting catastrophes and what we have learned in a post-Katrina cat management world.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Elizabeth Cleary
Keywords:
Catastrophe Modeling
ERM: The New Tool for S&P
Standard & Poor's began evaluating the Enterprise Risk Management capabilities of insurers in late 2005. David Ingram, Director, ERM at S&P will describe the range of activities that falls under the criteria that are being used for these evaluations including the risk management culture, risk controls, risk models, emerging risk processes and strategic risk management. In addition, the resulting findings from the first several months of completed evaluations will be reviewed.
Source:
2006 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
David Ingram
Keywords:
ERM
