Search Presentations
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.
Refine Your Search
The presentation materials are offered in connection with CAS professional education offerings. © 2022 Casualty Actuarial Society. All Rights Reserved. The presentation materials may contain copyrighted content the use of which has not been specifically authorized by the copyright owner. You are permitted to view and print the materials for personal/professional noncommercial research purposes. Except for the foregoing, you agree not to reproduce, distribute, modify, create derivative works, or commercially exploit the presentation materials without prior written permission from CAS. Please direct any copyright permission inquiries regarding use of the presentation materials to acs@casact.org.
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.
Risk Metrics
Risk measures and risk-return yardsticks are necessary tools for the ERM process. Different tools might be used, depending on the intended applications. The practitioner speakers will share the uses their companies have made of different risk metrics, the strengths and weaknesses they have found, and the data collection and calculation procedures needed to support the use of these metrics. The academic speaker, as one of the original authors of coherent risk measure framework, will share his latest research on multi-period risk measures. Audience questions and interactions are welcomed and encouraged.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Leo Tilman
Panelists:
David Ruhm, Fred Tavan, Philippe Artzner
Risk Tolerances and Risk Reactions - A Behavioral Finance Approach
ERM frameworks require practitioners to establish a variety of important parameters for which there is often little guidance. Among the most important of these parameters are those that establish the company's risk tolerance and serve as the critical cut-off point for many risk measures. In this session, the presenters will discuss the pitfalls that companies must avoid in establishing their risk tolerances. For example, some firms attempt to rely upon seemingly objective measures such as bond default rates to set the risk tolerances in their ERM models and there are many pitfalls that must be avoided with this approach. After risk tolerances are set, managers tend to often display the somewhat sub-optimal reactions to risk that have been documented within the new field of behavioral finance. The ways that an ERM system can help to overcome those reactions will be discussed.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Zvi Bodie
Panelists:
Dave Ingram, Richard Goldfarb
Capital - Economics vs. Rating Agency vs. Regulatory
This session will present an overview of the various approaches in use for determining an insurance company's capital, as well as its uses and applications. In particular, the panelists will analyze the implications of recent and proposed regulatory changes for determining capital and reserves directed at using economic capital methodology, i.e. reflecting a company's proprietary risks.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Harry Panjer
Panelists:
Hubert Mueller, Jóse Siberon
Reports of Research Working Parties
Last year, the Casualty Actuarial Society introduced the Research Working Party concept and formed three parties to better address long-standing research needs. Working parties have proven to be effective for other organizations. They are collective research paper task forces under the direction of CAS Research Committees with the charge of addressing targeted practical research topics in a short timeframe. Working parties are open to CAS members and non-members alike.
This session will feature representatives from each of the working parties who will report on progress to date on their respective topics and share experiences about the working party process.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Harry Panjer
Panelists:
Glenn Meyers, Nathan Babcock, Don Mango
Creating Value through ERM
Several industry experts will discuss their experiences on how ERM is making a difference in their organizations. Find out how these companies have started out and the path they have taken in implementing ERM, as well as the benefits achieved thus far. Speakers will discuss their experiences where ERM has proven to be an effective risk management tool, how it allowed to quantify risk exposures and created added stakeholder value to the organization.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Harry Panjer
Panelists:
Vinaya Sharma, Randy Tillis, Donald Watson
COSO Framework - Review and Discussion
This session will provide an overview, discussion of, and status update on the Committee of Sponsoring Organizations' (COSO) project to develop an Enterprise Risk Management Framework. You will hear an overview of the new draft Framework, issues on adopting this framework and a definition of enterprise risk management and its components. The session speakers will outline the relationship between the new framework and COSO's previously issued Internal Control - Integrated Framework, as well as discuss its similarities and differences with other frameworks. The discussion will also address implementation issues for insurers, banks, other financial institutions as well as other industries. An Academy of Actuaries representative will discuss the feedback the North American actuarial organizations provided in response to the initial COSO draft. Audience's comments, questions, and feedback are encouraged.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Margaret Brinkman
Panelists:
Joel Aronchick, Richard Reynolds
Insurer Solvency Assessment - Report of IAA Working Party
The Report of the Working Party is now complete! The session will describe the key principles being recommended for a global insurer solvency framework. The panelists will address the report details and discuss the reaction of the insurance supervisors to the report. Overviews of the life and non-life insurer case studies included in the report are presented. The attendees will learn of the numerous implications for risk modeling, risk measures and risk aggregation for life and non-life insurers.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Theodore Zubulake
Panelists:
Glenn Meyers, Stuart Wason
External Views on Risk Management
Boards of directors want to ensure that best practices are adopted, and risks are identified, capitalized upon, and/or hedged before escalating to board level. Rating agencies are more forgiving for companies identified as having excellent risk management practices. Regulators want to make sure nothing happens during their watch. This session is a discussion by representatives of several external groups and organizations of their take on risk management developments in various industry sectors. They will compare and contrast areas of interest and concern, definition and practice of risk management, and their predictions for future trends.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Stewart Gleason
Panelists:
Allan Brender, Robert Mark, David Koenig, Joel Levine
Latest in ALM
This session provides an in-depth discussion of the latest developments and trends in the Asset Liability Management field. Leading practitioners share their insights on preeminent ALM techniques and related practical issues. A discussion of the latest banking and insurance practices is presented and addressed from a variety of perspectives. During the session, expert panelists will share their practical experiences, discuss relevant issues, and address potential pitfalls in implementing a sound ALM framework. In addition, the session provides an overview of the latest work on evaluating ALM from a Corporate Finance function perspective.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Stewart Gleason
Panelists:
Prakash Shimpi, Thomas Ho
Industry and Interdisciplinary Views on Risk Management
The area of risk management is still new and ever evolving. Various sectors of the industry are trying to solve numerous risk management issues, each tackling them from their own perspective, even though cooperation might be a better approach to utilize on commonality of the problems. Fragmentation, differing terminology, and varying standards exacerbate the issue. Diversity, inclusive communication, and partnership can help to better frame, understand the process, and advance the state of risk management practice. Only recently there has been more dialogue and collaboration among various groups.
Source:
2004 Enterprise Risk Management Symposium
Type:
concurrent
Moderators:
Graham Masters
Panelists:
Nicholas Hayes, Felix Kloman, Terry Vaughn
General Session III: Strategic Perspective-Theory Behind ERM
ERM is a new and evolving discipline, and practitioners are facing a host of strategic, conceptual, and methodological issues related to the implementation of ERM frameworks. This general session takes an out-of the-box approach and examines the foundation on which Enterprise Risk Management is based, the principles behind the ERM revolution, and provides predictions for the future evolution of ERM. The expert panel from insurance, banking, and consulting backgrounds will challenge the audience with thought-provoking ideas and considerations regarding such much-debated issues as risk integration, economic capital, risk attribution, quantification of operational risks, and others.
Source:
2004 Enterprise Risk Management Symposium
Type:
general
Moderators:
Robert Curry
Panelists:
Shaun Wang, Darryll Hendricks, Tom Wilson
General Session II: State of Risk Management Practices: Financial Sector and Beyond
This second general session will explore the latest developments in risk management practices across a broad variety of sectors. Experts in risk management with different backgrounds share their perspectives on various issues they encounter and discuss approaches they take to address these issues as well as the lessons learned. The session will address broad ERM issues of interest to participants in all practice areas, to build a common ground for more specialized discussions in the subsequent concurrent sessions.
Source:
2004 Enterprise Risk Management Symposium
Type:
general
Moderators:
Claudine Modlin
Panelists:
Don Mango, Leo Tilman, Chuck Lucas, Leo Bever
DAY I, General Session Luncheon: Enterprise Risk Management for Pensions
Some companies that sponsor defined benefit pension plans have been coming under closer scrutiny for valuation and funding methodologies that may potentially bias asset allocation strategies and impact the risk of the overall enterprise and question the fiduciary responsibilities of those responsible for pension plan administration and the company board of directors. Can enterprise risk management balance the many competing interests and produce a holistic view to define, measure and manage them?
Source:
2004 Enterprise Risk Management Symposium
Type:
general
Moderators:
Leon Gottlieb
General Session I:Chief Risk Officer Forum
Renowned CROs deliver keynote speeches at this year's ERM Symposium. These experts were at the cornerstone of the implementation of ERM systems/processes in general and their respective firms in particular, and have written authoritative books/articles on enterprise risk management. Presenters will provide in-depth discussions on ERM frameworks, and share their expert insights on important strategic and implementation issues confronting the industry. This session will provide a brilliant start to the ERM Symposium.
Source:
2004 Enterprise Risk Management Symposium
Type:
general
Moderators:
Barbara Ewing
Panelists:
James Lam, Robert Mark, Luc Henrard
CALL-3
Cheng-Sheng Peter Wu and John Lucker, A View Inside the "Black Box": A Review and Analysis of Personal Lines Insurance Credit Scoring Models Filed in the State of Virginia (.pdf)
Source:
2004 Ratemaking Seminar
Type:
Paper
Keywords:
Personal Lines, Credit Scoring Models
CALL-2
John Major, Gradients of Risk Measures: Theory and Application to Catastrophe Risk Management and Reinsurance Pricing (.pdf)
Benjamin Turner, Credible Risk Classification (Word document)
Source:
2004 Ratemaking Seminar
Type:
Paper
Keywords:
Reinsurance, Catastrophe Risk Management
CALL-1
Richard Derrig and Elisha Orr, Equity Risk Premium: Expectations Great and Small (.pdf)
Frank Schnapp, The Cost of Conditional Risk Financing (.pdf)
Source:
2004 Ratemaking Seminar
Type:
Paper
Keywords:
Risk Financing
Policyholder Retention and Its Impact on Pricing
The policyholder retention and its impact on profitability have long been overlooked in actuarial literature. As insurance draws closer to other financial services industries, the emphasis those markets place on retention, lifetime customer value, and the economic value of the current client base are getting increased attention.
This session will present possible measures of retention, a discussion of how different market segments may respond to rate changes, an approach to modeling prospective retentions by market segment, and how this information can be used to optimize a proposed rate change.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Gregory Engl
Panelists:
Claudine Modlin, Robert Walling
Basic Concepts in Credibility
Credibility is one of the cornerstones of the ratemaking process. In this session, credibility will be reviewed in the context of ratemaking concepts. Both classical and Bühlmann models will be described. The session will include a review of variables affecting credibility, credibility formulas, and practical techniques for applying and increasing credibility.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Panelists:
Paul Brehm
Finite Reinsurance-Where's the Risk?
While the accounting treatment of finite reinsurance has long been subject to scrutiny, the recent increase in attention towards all financial reporting has elevated this even further. This session will provide an overview of what the accounting issues are and just why finite reinsurance transactions are receiving such attention. Panelists will provide both the auditor and finite reinsurer's perspectives in assessing these transactions for appropriate accounting treatment.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Jeffrey Eddinger
Panelists:
David Molyneux, Robert Miccolis
Experience and Exposure Rating in Excess of Loss Reinsurance
This session will build on the reinsurance topics presented in the introductory track. Focus will be on the use of experience and exposure rating in excess of loss reinsurance contracts as well as the reconciliation between the two. Distinction will be made between property and liability exposures. Panelists will also discuss the pricing of more advanced contract features such as annual aggregate deductibles and reinstatement provisions in these contracts.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Jeffrey Eddinger
Panelists:
Elliot Burn
What Makes a Good Rate Filing?
What makes a good rate filing? It depends on whom you ask. Now is your opportunity to ask three individuals with very distinct opinions: a regulator, a company actuary responsible for state filings, and a consultant with a similar responsibility.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Jeffrey Eddinger
Panelists:
Timothy Wisecarver, Charles Romberger, Debra Stein
Keywords:
Filing, Regulator, Regulation, Organization, Documentation
The Actuary as an Expert Witness
Session panelists will address basic issues behind data management, issues of privacy and confidentiality, the actuarial standards concerning data quality, issues concerning how to control the data, and the need to be concerned about data quality.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Nancy Treitel
Panelists:
Martin Simons, Michael Miller
Ratemaking Research Working Party
In continuing efforts of the CAS Research and Development Committees to optimize research efforts commensurate with the CAS's Centennial Goal, this session is intended to develop another research working party with a focus on ratemaking issues. Potential considerations include: correlation of risks between lines of business, GLM and classification ratemaking, and allocating the cost of capital to line of business.
Those interested in being a member of a developing research working party or who would like to express corresponding ideas and views should attend this session.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Nancy Treitel
Cost of Financing Insurance-The Next Phase
Combining the cost of capital, reinsurance, and options on a catastrophe index is the cost of financing an insurance company. This analysis updates previous approaches for allocating the cost of financing back to the individual underwriting divisions and discusses further developments on the topic. During this session, panelists will analyze how to use dynamic financial analysis to determine profitability targets for the various underwriting divisions of an insurance company. The latest research on this topic, "The Cost of Financing Insurance- Version 2," is available.
Source:
2004 Ratemaking Seminar
Type:
concurrent
Moderators:
Patricia Saporito
