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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.
Professionalism: The Roles of the ASB and the ABCD
The session will provide an In-depth discussion of the distinct functions of both the ASB and the ABCD as well as illustrating the important role each plays in supporting the Profession.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Donald Hendriks
Panelists:
Albert J. Beer FCAS, MAAA
Drivers of Social Inflation and the Impact on Casualty Results
The topic of this session is the drivers of social inflation and the impact on casualty results. Panelists will approach this issue from several different perspectives. The first panelist will review evidence of increased social inflation and the socio-economic drivers. It will include a review of the trends in court statistics and in jury verdicts. He will then discuss drivers including increased legal advertising, developments in litigation financing, and income inequality. The second panelist studies the relation between damage awards in jury trials and income inequality using four publicly available data sets.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Shelby Wolff
Panelists:
William Burns, Frank Schmid, William Miller
Bayesian MCMC Stochastic Loss Reserve Models for Paid Loss Triangles
After a brief introduction to Bayesian MCMC stochastic loss reserve models, this session will present a number of models applicable to paid loss triangles. The output from these models will be a predictive distribution of outcome and various statistics that summarize this distribution. It will illustrate some real-time model selection tools, and some analyses of the various models’ performance on lower triangle holdout data. A running debate among actuaries whether or not to use incurred loss data. This session will show how to use incurred loss data to improve the accuracy of paid loss estimates.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Michelle Iarkowski
Panelists:
Glenn Meyers
Actuaries in a World of AI
The data P&C insurers have been collecting in recent years has exploded, but only recently has the industry begun utilizing the tools in machine learning and artificial intelligence to gain the actionable insights from this information. Join Murli in this fireside chat where he will discuss how the industry can harness these tools with this information to better quantify risks and become partners with insureds in managing risks, and what the implications could be for the actuarial profession. This will include how actuaries can play a key role in embracing the power of machine learning and artificial intelligence, what skills will be important for them to develop, and how actuaries can bring value to their insurance organizations in this emerging world of AI.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Featured Speaker
Moderators:
Donald Hendriks
Panelists:
Murli Buluswar, Pete Miller
What's Your Opinion? Actuarial Opinion Requirements across Jurisdictions
Most CAS members are generally familiar with the form, content and requirements for an NAIC statement of actuarial opinion. However, many non-US jurisdictions also require statements of actuarial opinion related to reserves carried on the balance sheet. How do these opinions compare/contrast with an NAIC statement of actuarial opinion? This session will focus on the form, content and requirements for actuarial opinions from a variety of non-US jurisdictions.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
Kyle Vrieze, Denise Cheung, Veekash Badal
Impact of COVID-19 on the Sharing Economy
How did COVID-19 impact the following aspects of the Sharing Economy:
• Impact on the business: revenue, distribution shifts and others
• Impact on the claims process and type of claims
• Strategies to adjust the reserving process
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Maroun Mourad
Panelists:
Francois Morissette, Vincent Lavallee-Laliberte, Matt Callahan
Emerging Risks 2020
A view of current and emerging risks facing risk managers today. Likely emphasis on the healthcare and life sciences industries.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
Richard Messick, Michael Meadows, Roxsann Wilson, Aaron Simpson
IFRS 17 Workshop - the Basics and Beyond
Brief background and overview of IFRS 17 concepts along with a deeper dive into some of the more complex issues
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Workshop
Moderators:
Pam Sealand Reale
Panelists:
Lela Patrik, David Kaye, Tope Ogunmola, A. Carver Roya
Spotlight to Shine on US Actuaries as Independent Experts
Oklahoma has now made good on its promise to become the leading domicile for a new US-based insurance restructuring mechanism – the Insurance Business Transfer (IBT). A consulting actuary was hired to be the Independent Expert (IE) in this transaction. The session will include discussion of the purposes of the report, limitations of the report, what the IE report included, what an Oklahoma regulator (speaker) thinks about this report and the IE role, and how he worked together with his client (speaker). The session will also discuss where the industry stands with IBTs. Actuaries should leave the session motivated to serve as IEs in future in IBTs.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
David Foley, Andy Schallhorn, Stephen DiCenso
Bayesian Inference and Reserving Models
This workshop is designed for actuaries who want a hands-on practical introduction to building reserving models using Bayesian inference. We will start with an approachable introduction to Bayesian inference. Next, we will review the underlying assumptions behind several popular reserving methods then use a combination of R and Stan (open source Bayesian estimation and simulation software) to build these and new reserving models using Bayesian techniques. This is not a mathematically intensive session. The focus will be on understanding, testing and changing the underlying model assumptions.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Workshop
Moderators:
Pam Sealand Reale
Panelists:
Stephen Lienhard, Daniel Mitte
Rating Agency and Investor View on Financial Condition of Insurer
The current COVID-19 pandemic has certainly stressed the investment portfolio and underwriting of the P&C Industry. Our panel will consist of two individuals who monitor the P&C Insurance Industry on a daily basis. The panel will discuss the Industry from a Rating Agency and an equity research firm perspective. The panelists will discuss key issues used in the evaluation of the financial strength of a P&C Insurance company. Particular attention will be paid to how a company’s loss reserves, underwriting and ERM capabilities are evaluated as part of their evaluation process. The panel will also share their observations regarding the Industry’s response to the pandemic.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
Sarah Hibler, Kyle LaBarre
What is Fair Value - It Depends on Your Perspective
The concept of "fair value" of reserves arises in a variety of contexts in Financial Reporting globally. Broadly speaking, the concept involves a "best-estimate" of remaining unpaid claim liabilities, a provision for discounting for time value of money, and a provision for "risk margin" to reflect the potential for adverse outcomes relative to the "best estimate." However, the details of implementation of Fair Value can vary significantly depending on the specific Financial Reporting context. This session looks at "fair value" reserves in a number of Financial Reporting contexts, comparing and contrasting the details of the implementation of fair value reporting across contexts.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
Gareth Kennedy, Daniel Leff, Alexander Smatt
Mortgage Insurance - Reserving In the Midst of a Pandemic
Mortage Insurance is a segment of the P&C market unfamiliar to most actuaries. And yet, it plays an important role in the housing finance system. In addition to providing an introduction to mortgage insurance, this session will focus on:
- The current pandemic's impact on mortgage insurers.
- Key differences in the economic landscape between the Global Financial Crisis of 2007-2008 and the 2020 COVID-19 crisis.
- Reserving techniques and frameworks utilized in estimate loss and premium provisions.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Pam Sealand Reale
Panelists:
Michael Schmitz, John Gaines
Update of An Overview for P/C Insurers’ Audit Committees
This will be a discussion about COPLFR's revised version of the guide for Audit Committees. The content of the guide will be discussed as well as the best way to deliver this to audit committees.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Donald Hendriks
Panelists:
Kathleen Odomirok, John Pierce, Brenda Hebert
Coffee Klatch for Opinion Writers
So, you have a few questions about your upcoming or recent opinion. You probably won’t find a better place to get your answers than this session. Or maybe you have resolved an interesting issue in your opinion. Come and share your knowledge and help your fellow practitioners avoid similar problems. Need help making a better presentation to your board or senior management? These panelists are sure to have helpful insight, along with your fellow attendees. The same can be said about interacting with regulators, auditors and even lawyers. Bring your questions and take advantage of the collective experience that will be in this session.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Donald Hendriks
Panelists:
Joseph Herbers, Kathleen Odomirok, Michael Toothman, Edward Yorty
Data, Documentation and Report-Writing
This session will help the appointed actuary with issues of data quality and documentation so that the actuary can develop a superior actuarial report.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
John Gleba, Michelle Iarkowski
Directors' & Officers' Liability - The Evolving Landscape
Explain what was happening in D&O market leading up to 2019, the market inflection in 2019 and potential Covid impact.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Pam Sealand Reale
Panelists:
Ricardo Ramotar, David Moore
Large Loss Trends in Medical Professional Liability
This roundtable will discuss large loss trend in Medical Professional Liability from both a severity and frequency standpoint and potential drivers of large losses and areas of concern.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Pam Sealand Reale
Panelists:
Arthur Randolph, Patricia MarzellaGraubert
Recent Developments in ILS Reserving
Due to a series of major catastrophe events over the past three years, the insurance-linked securities market has gained a wealth of experience in refining its models of catastrophe loss development. It has also wrestled with the issue of trapped collateral, where contractual buffers against reserve variability can lead to investors’ collateral being held well past the expiration of the contract period and reduce their returns.
This year, the COVID-19 pandemic has produced another challenge for ILS reserving practices and introduced the industry to an entirely new type of catastrophe exposure. This roundtable will review some of the reserving lessons learned from recent loss activity in the ILS space, provide insight into the approaches and methodologies that companies and ILS funds are using to track COVID-19 impacts, and address any reserving topics associated with the ongoing 2020 hurricane season.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Shelby Wolff
Panelists:
William Miller, Aaron Koch
Managing Captives with Capital Modeling
Captives need to operate as the insurance companies which they are. All insurance companies need to strategically deploy capital to achieve their operating goals. A robust capital model is the starting point. We will provide an overview of the inputs and outputs of a capital model. In addition, we will present examples for how a capital model can influence strategic decisions such as: (1) coverage layers; (2) lines of business; (3) reinsurance structure; (4) risk appetites and tolerances; (5) capital management, (6) investment strategies.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Kathleen Knudson
Panelists:
Dan Gibson, Michael Atkinson
Maximizing The Value of Your Actuarial Report and Opinion
Your actuarial opinion and reports are reviewed and analyzed for appropriateness to different stakeholders, including company management, auditors, regulators, court officials and jurors. Each group has different needs for information and you will want to be able to communicate effectively to all.
This workshop will deepen your expertise on the latest requirements for P&C Statements of Actuarial Opinions with a review of actuarial qualification standards, standards of practice and interactive case studies.
In the half day-long session, the workshop will offer attendees the opportunity to:
• Gain an understanding of regulatory/company/auditor perspectives and expectations.
• Remain up to date on the latest regulations and standards.
• Delve deeper into subjects such as RMAD, ranges, documentation, data and report writing.
• Focus on communicating effectively to various stakeholder groups.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Workshop
Moderators:
Donald Hendriks
Panelists:
Derek Freihaut, Kathleen Odomirok, Susan Gozzo Andrews, Michael Toothman
Coronavirus And Beyond: Secular and Cyclical Forces Coming Together
Full Title: Coronavirus And Beyond: Secular And Cyclical Forces Coming Together To Alter The P/C Industry
The presentation will address both our (Dowling’s) current thoughts on COVID-19 and the related effects on the (re)insurance market from both a loss / reserving and market conditions perspective. By itself, COVID-19 is likely to be the largest (re)insured loss in the last 30+ years. When combined with a number of other secular changes and cyclical pressures, the P/C (re)insurance is poised for meaningful change. We’ll explore the various moving pieces and where we expect to go from here.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
General Session
Moderators:
Shelby Wolff
Panelists:
Kyle LaBarre
Social Inflation and Emerging Mass Torts – Now, Next and Beyond
The Property & Casualty Insurance industry has experienced notable increases in loss trends in recent years that are likely attributable to the impacts of social inflation and emerging mass torts. This session will discuss some of the underlying societal and legal trends driving these emerging costs, as well as the operational considerations associated with them (claims, actuarial/reserving, accounting). This will be followed by an analytical discussion on quantification of the increase in trends, and on the potential effects on ultimate loss estimates of continued elevated trends under various prospective scenarios.
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Shelby Wolff
Panelists:
Peter Venetis, Michael McComis, Christian Lemay
Wheels: Commercial Auto, Another Dip in the Road
• This session provides a year-end 2019 holistic update to the Commercial Auto industry experience and trends, most recently presented at the May CAS On-line Webinar (“as part of the 4-year Wheels series”). In addition to reviewing items such as lengthening LDFs and large loss pressures on ILFs, a comparison between commercial and personal auto trends will be presented.
• A company actuary/underwriting managers perspective will be given on the state of the market, including the expected impact of various societal and jury impacts. Impacts on the portfolio and potential underwriting responses, as well as discussion of the significant issues and pausing impacts from Covid-19, will be given.
• To also help frame potential scenarios, this session will Include a historical look to prior shock events including the Great Recession on premium level dips, troughs and recovery shapes, and a framework for measuring similar impacts under various Covid-19 emerging scenarios. A conceptual ac
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Concurrent Session
Moderators:
Maroun Mourad
Panelists:
Sean Devlin, John Buchanan
Michigan Auto No-Fault Reform
Attendees will learn about the changes in MI personal auto law
Source:
2020 Casualty Loss Reserve Seminar (CLRS)
Type:
Roundtable Discussion
Moderators:
Donald Hendriks
Panelists:
Lori McAllister
