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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.
What's Happening at the CIA
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
Charles McLeod
Keywords:
CIA
Business Session
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
Patricia Hladun
Keywords:
business session
Alphabet of Federal Legislation Affecting the Insurance Agency
Even though the business of insurance is regulated by the states there are many federal regulations that insurers must also comply with. This presentation will address a range of federal regulations and how they affect or don't affect the property casualty insurance world, including the Gramm-Leach-Bliley Act (GLBA), the Health Insurance Portability and Accountability Act (HIPAA), the Fair Credit Reporting Act (FCRA), the Fair and Accurate Credit Transactions (FACT) Act, the PATRIOT Act and the Office of Foreign Asset Control (OFAC).
Source:
2005 Regional Affiliate - CANE
Type:
affiliate,general
Panelists:
Kathleen Jensen
Keywords:
federal regulations
Trends in Workers' Compensation and Medical Malpractice Insurance
Medical Malpractice
The availability and affordability of medical malpractice insurance continues to make headline news across the country. Although rate increases have moderated after three years of significant rate activity, the subject of caps on non-economic damages and other traditional solutions continues to foster debate between proponents and opponents of tort reform. This session will briefly touch upon the industry's current operating results and rate expectations. Trends regarding tort reform such as caps, joint & several liability, and constitutionality will be explored. The session will wrap up with a discussion of some non traditional solutions likely to impact medical malpractice insurers such as predictive modeling, computerized physician order entry and improved physician communication.
Workers' Compensation
Once classified as an "accommodation line" of insurance and considered reasonably predictable, workers' compensation has increasingly become one of the most unpredictable and costly lines in the insurance business. Reviewing past experience and industry statistics tell part of the story. It is more important, though, to understand the claims trends as well as other issues that impact costs for this "long-tail" line. This presentation, from a claims perspective, will help the listener gain insight into what it takes to reserve lifetime workers' compensation claims properly.
Source:
2005 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Kevin Bingham, Lew Palca
Keywords:
Workers' Compensation, Medical Malpractice Insurance
Reserving Ranges and Acceptable Deviations
The session will compare the main differences between stochastic and deterministic methods. It will describe how ASOP #36 advises actuaries to handle reserve variability. A brief illustration of various types of stochastic models will be provided. The calculation of materiality standards and ranges of reasonable reserve estimates will be explained in the context of stochastic reserving. The topic of calculating reserve variability assuming correlation across various lines of business will be also discussed.
Source:
2005 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Kevin Weathers, Emmanuel Bardis
Keywords:
Reserving Ranges, Deviations
What is Predictive Modeling?
Different methods of predictive modeling and its common applications in insurance will be surveyed. In recent years, more and more actuaries have begun using predictive modeling as an important tool in doing their work. Discussion will include what predictive modeling is and how it is applied in insurance pricing, underwriting, and marketing. Methods touched on will include multiple regression models, generalized linear models, and decision trees.
Source:
2005 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Christopher Monsour
Keywords:
Predictive Modeling
Value Creation In Insurance-A Finance Perspective
The ultimate challenge for the management of an insurance company, as for any other business, lies in understanding of the components of the value creation process, and in controlling and influencing them in order to enhance the long run value of the firm. The definition of value and its measurement involve important finance concepts that extend beyond those that are traditionally practiced by actuarial and accounting professionals. The many varied and seemingly disconnected approaches that are applied in the analysis of insurance company financial data may differ in their specific purposes and levels of application, yet all should share a common objective, which is the assessment of profitability, performance, and ultimately value creation. Unfortunately, many of the current models, such as those used in ratemaking, continue to be too narrowly focused. The failure to take a sufficiently broad perspective and to speak the language of management limits the effectiveness of those who do so, and creates the risk that important business drivers may be missed. The broader finance perspective on the essential elements of the value creation process in insurance is presented here to provide a unifying umbrella framework within which all the various methodologies ultimately fall. Understanding the economics of insurance and the important financial concepts and linkages among variables can only help practitioners, such as actuaries and accountants, become more relevant in a converging financial marketplace.
Source:
2005 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Russell Bingham
Keywords:
Value Creation In Insurance
Actuarial Malpractice and Ethics
Litigation against actuaries has significantly increased in recent years. By incorporating a high level of professionalism into their work, actuaries can reduce their risk of being successfully sued for malpractice. This session will focus on the interaction between professionalism and malpractice risk and on how to develop and maintain good professional practices that will help protect actuaries from unfair lawsuits.
Source:
2005 Regional Affiliate - CANE
Type:
affiliate
Panelists:
Lauren Bloom
Keywords:
Actuarial Malpractice and Ethics
Captive Insurance: Vermont
While captive insurance companies can be established in many domiciles, the premier on-shore location for captives in the United States is Vermont. It is also one of the largest and most desired domiciles for captive insurance in the world. With the assistance of the Vermont Captive Insurance Association (VCIA), we are able to offer two views of the market and the actuary's role - one from the perspective of a regulator and one from the perspective of the New York-based risk manager for one of the nation's largest real estate companies.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Bill Motherway
Keywords:
Captive Insurance
Directors & Officers Insurance
Over the last few years D&O insurance has experienced significant rate increases and changes in terms and conditions - influenced by corporate governance scandals, substantially higher average settlement values and the passage of the Sarbanes-Oxley Act. Our speaker will discuss the current state of the D&O market as well as the results of the latest Tillinghast D&O claim survey.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Elissa Sirovatka
Keywords:
Directors & Officers Insurance
Catastrophe Modeling and Property Reinsurance Pricing
This presentation considers catastrophe modeling in the context of pricing property reinsurance business. What can the cat modeling input tell you about a company? What can the output tell you about the reinsurance? What adjustments should be made to either? Most importantly, how do the modeled results work their way into the final price? We will also discuss modeling issues and lessons learned from the 2004 hurricane season.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Kathy Garrigan, Bill Churney
Keywords:
catastrophe Modeling, property reinsurance
Reinsurance Risk Transfer Issues: An Overview Reinsurance Risk Transfer Issues: An Overview
In recent months, reinsurance risk transfer issues have been the subject of much discussion. This presentation will provide background on "finite" reinsurance and the current accounting rules related to reinsurance risk transfer (including the "cliff problem," i.e., small changes in economics sometimes lead to large changes in accounting) in order to shed light on why these issues have been in the news. We will also explore the actuary's role in evaluating risk transfer and the results of the recent AAA survey on risk transfer evaluation practices. Finally we will take a look at possible changes in reinsurance accounting.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Peter Licht
Keywords:
reinsurance, risk transfer
D&O Reinsurance Pricing: A Financial Market Approach
The large number of high severity D&O losses in recent years has created a serious capacity crunch resulting in dramatically increased pricing and restricted coverage. In this session, a methodology for quantifying the risk associated with portfolios of D&O policies is presented. The research shows strong correlation between class action lawsuits and the financial performance of firms and recognizing this is critical in evaluating reinsurance exposure. Their work also suggests mechanisms of transferring risk to capital markets to create additional capacity.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Athula Alwis, Vladimir Kremerman
Keywords:
reinsurance, pricing
Enterprise Risk Management and the Casualty Actuary
Enterprise Risk Management is the discipline by which organizations in all industries assess, control, exploit, finance and monitor risks from all sources for the purpose of increasing both short and long term value for stakeholders. The objective of ERM is not simply to protect the organization from threats, but to proactively create value. The CAS's centennial goal states that "CAS members will be recognized as the leading experts in the evaluation of hazard risk and the integration of hazard risk with strategic, financial, and operational risk." Said another way, casualty actuaries will be recognized as experts in ERM quantification. But actuaries are not alone in their interest in ERM. There are many professional organizations around making moves in this dynamic, emerging space. What does all this mean for practicing casualty actuaries? This session will provide an update on many ERM-related activities and challenge the audience for their feedback.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Donald Mango, John Kollar
Keywords:
ERM, Enterprise Risk Management
A Word from the President
The President of the Casualty Actuarial Society will update CAGNY on issues affecting CAS Members and candidates. Time will be provided for questions and answers.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Paul Braithwaite
Research Working Party on Quantifying Variability in Reserve Estimates
In order to quantify the potential variability of ultimate losses, it is critical to understand the underlying risks that produce losses. Casualty actuaries and others have made significant contributions to the discussion on how to estimate potential variability of loss estimates; the CAS Working Party on Quantifying Variability in Reserve Estimates recently prepared a summary report on the historical research related to this topic. This session will discuss this topic and present a summary of the findings of the Working Party.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Gary Venter
Keywords:
Quantifying Variability, Working Party
2005 Overview and Outlook for the P/C Insurance Industry
2005 has been an interesting year for the property casualty insurance industry. As we draw to year-end, our speaker, Dr. Robert Hartwig of the Insurance Information Institute, will offer his views on the year that was, as well as provide comments on issues that are sure to dominate the headlines in 2006. Catastrophes, TRIA, contingent commissions, finite reinsurance and the softening market will be among the topics discussed.
Source:
2005 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Robert Hartwig
Keywords:
Property-Casualty
Current CAS Issues and Directions
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
David Oakden
Keywords:
current CAS issues
Finite Reinsurance - A Regulator's Perspective
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
August Chow
Keywords:
finite reinsurance, regulators
GISA: New Automobile Statistical Plan
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
Darlene Hall
Keywords:
automobile, statistical plan
Business Session
Source:
2005 Regional Affiliate - OCCA
Type:
affiliate
Panelists:
Patricia Hladun
Keywords:
business session
Asbestos session
Source:
2005 Regional Affiliate - CAMAR
Type:
affiliate
Keywords:
Asbestos
Predictive Modeling Presentation
Source:
2005 Regional Affiliate - CAMAR
Type:
affiliate
Keywords:
Predictive Modeling
What's Happening in the Reinsurance Market?
The reinsurance market has gone through many changes in the past 20 years. In this session, reinsurance executives will discuss how the competitive landscape, distribution channel, and reinsurance needs have changed over the years as well as provide insight on current trends and how these trends will affect the reinsurance and insurance industry in the future. Following the presentation, audience members will have the opportunity to express their opinions on the subject during a question and answer period.
Source:
2005 Annual Meeting
Type:
concurrent
Moderators:
Michael Toth
Panelists:
Joy Takahashi, Yves Provencher
Keywords:
reinsurance market, reinsurance and insurance industry
Predictive Modeling-Pitfalls and Potentials
Predictive modeling has been used very effectively in other countries for years. Until recently, only a few leading US personal lines companies have been utilizing these advanced ratemaking techniques. That has been changing and predictive modeling techniques are now being employed by a wide variety of insurance companies from the largest to the smallest and within the broad spectrum of lines of business.
As with anything, new techniques bring both opportunities and issues. The panel will discuss some of the benefits the industry has realized by using these techniques as well as some of the issues that have already arisen.
Source:
2005 Annual Meeting
Type:
concurrent
Moderators:
Julia Chu
Panelists:
John Pedrick, Michael Larsen
Keywords:
Predictive modeling, predictive modeling techniques
