Casualty Actuarial Society

Professional Education

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2013 CAS Annual Meeting

Schedule

The schedule of events includes:

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8:00 a.m.–8:45 a.m. Central Time (9:00 a.m. - 9:45 a.m. Eastern Time):
  • Celebration of New Members
  • All meeting attendees are invited and encouraged to attend this session - come celebrate the achievements of new CAS members and listen to the Address to Members, presented by CAS Past President Pat Grannan.
8:45 a.m. – 9:00 a.m. Central Time (9:45 a.m. - 10:00 a.m. Eastern Time)
Refreshment Break
9:00 a.m. – 10:15 a.m. Central Time (10:00 a.m. - 11:15 a.m. Eastern Time):
General Session: Cycle Management: Theory and Practice

Why do we have an underwriting cycle? How can actuaries help insurers and reinsurers manage through the cycle? How has the cycle distorted our estimates? And, what can we, as actuaries, do better going forward? This session will review how well actuaries have estimated losses during the high and low points of the past underwriting cycles. Then, it will discuss how a business plan can be made to accommodate the cycle utilizing strategies to help grow profitably through the cycle. This session will give you practical ideas to use as a basis for evaluating your own situation.

    Moderator:
    Jessica Leong, Lead Casualty Specialty Actuary, Guy Carpenter & Co., LLC
    Panelists:
    Jessica Leong, Lead Casualty Specialty Actuary, Guy Carpenter & Co., LLC
    Donald Mango, Head of Global Advisory, Guy Carpenter & Co., LLC
    Susan Witcraft, Financial Analysis Director, OneBeacon Insurance Companies
    Denis Guenthner, Vice President & Actuary, The Travelers Companies, Inc.

Questions can be asked via Twitter by using the hashtag #CASannual13GS1

10:15 a.m. – 10:30 a.m (11:15 a.m. - 11:30 a.m. Eastern Time)
Refreshment Break
10:30 a.m. – 11:15 a.m. (11:30 a.m. - 12:15 p.m. Eastern Time)
Business Session

2013 CAS Spring Meeting

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8:00 a.m.–9:00 a.m. PDT: (11am-12pm EDT)
  • Celebration of New Members
  • All meeting attendees are invited and encouraged to attend this session - come celebrate the achievements of new CAS members and listen to the Address to Members, presented by CAS Past President Pat Grannan.
9:00 a.m.–9:15 a.m. PDT (12pm-12:15pm EDT)
Refreshment Break
9:15 a.m.–10:45 a.m. PDT:(12:15pm-1:45pm EDT)
General Session & Business Session

Shining a Light on the CAS Brand

    Panelists:
    Gary Josephson, President
    Wayne Fisher, President Elect
    Arlie Proctor, VP-Marketing and Communications
    Mike Boa, Director of Communications and Marketing

The webcast audience is encouraged to submit questions online throughout the session.

11:00 a.m.–11:45 a.m. PDT: (2pm-2:45 EDT)
Featured Speaker

Bruce Weinstein, Ph.D.,

The Ethics Guy®, has a simple purpose in life: he wants to enrich your appreciation of ethics in everyday life and to help you make the best decisions possible. He writes the column, “Ask the Ethics Guy,” for BusinessWeek.com.

2012 CAS Annual Meeting

8:00-9:00 am ET
Watch the Celebration of New Members and New Member Address
  • Welcome Message
  • Celebration of New Members
  • New Member Address
9:00 a.m. – 9:15 a.m
Break
9:15 a.m. – 10:45 a.m.

GS-1 Chief Risk Officer Roundtable


Watch the Chief Risk Officer Roundtable

The position of Chief Risk Officer is gaining in prominence and visibility. Most major insurers now have a CRO, who is a member of the senior management team. In addition, the CROs from 28 of the largest Life and P&C insurers in North America have formed an association to develop and promote leading practices in risk management throughout the insurance industry, and to act as an industry voice on risk management to external audiences such as regulators and rating agencies. The panelists will discuss the following topics:

  • Their roles and responsibilities within their organization
  • The activities and agenda of the CRO Council
  • Key external risk management issues, such as ORSA, ComFrame, and Solvency II
  • Key internal risk management issues, such as emerging risks, model validation, and leading practices
  • Opportunities for actuaries in risk management

Time will be reserved for Q&A.

    Moderator:
    Stephen Lowe, Managing Director, Towers Watson
    Panelists:
    Barry Franklin, Chief Risk Officer, Zurich North America
    Patricia Matson, Enterprise Risk Management, MassMutual Financial Group
    Mark Verheyen, Senior Vice President and CRO, CNA Financial
10:45 a.m. – 11:00 a.m
Break
11:00 a.m. – 11:45 a.m.
Featured Speaker, Dean Oliver, Director of Production Analytics, ESPN
Watch the Featured Speaker

http://www.casact.org/education/annual/2012/index.cfm?fa=speaker

2012 CAS Spring Meeting

8:00 a.m. – 9:45 a.m. MST (11:00 – 12:45 EDT) Business Session

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  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
10:30 a.m. – 12:00 p.m. MST (1:30 p.m. – 3:00 p.m. EDT) Keynote Session

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In lieu of a featured speaker on Monday morning, there will be panel of insurance company CEOs, moderated by Mark Vonnahme. This panel will conduct a round table discussion of important topics related to the property and casualty insurance industry and how these issues affect the actuarial profession.

    Moderator/Panelist:
    Mark Vonnahme, Finance Professor, University of Illinois at Urbana-Champaign
    Panelists:
    Bill Martin, President & CEO, Bankers Insurance
    John Welch, President, CNA Surety
    Donald A. Smith, President & CEO, SCF Arizona

2011 CAS Annual Meeting

Business Session, Presidential Address

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2011 Annual Meeting Webcast, November 7, 2011
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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G-1: Actuarial and Business Perspectives on the Insurance Cycle
This session will discuss the insurance cycle from both an actuarial, technical model perspective as well as a business, underwriting perspective. The first speaker will set the stage with an overview of cycles since 1970 and a look at various explanations commonly put forth for the cycles. The audience will then hear views from a senior commercial lines and personal lines actuary/CUO who will discuss whether the industry has become too model-centric and whether catastrophe and economic capital models help or hinder the market. For example, are these models providing useful input to management or have they failed to fulfill their initial promise, and, especially in Europe, have they been subsumed into a rating agency and regulatory morass? The panel will further discuss the impact of predictive modeling on pricing and the cycle; and how this varies among low-touch underwriting lines, middle markets, full experienced-based pricing lines, and all the way to more specialized technical underwriting. Other questions to be discussed include whether the cycle can be explained by changing views of risk and return, whether current techniques are capturing risk correctly, how has reinsurance factored into past cycles and the current cycle, and if different explanations are needed for the hardening and softening phases of the market. The panel will then address questions from the audience. They will conclude with some predictions on where the cycle is headed over the next 18 to 24 months.

    Moderator:
    Stephen Mildenhall, Chief Executive Officer, Aon Benfield Analytics
    Panelists:
    John Beckman, Senior Vice President & Chief Risk Officer, CNA Insurance Companies
    David Bassi, Chief Underwriting Officer, Plymouth Rock Assurance Corporation

2011 CAS Spring Meeting

Business Session

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2011 Spring Meeting Webcast, May 16, 2011
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
Keynote Speaker - Brian P. Sullivan

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Brian P. Sullivan

Well-Known Insurance Industry Journalist

Mr. Sullivan has been an insurance reporter and editor at the Journal of Commerce and the Philadelphia Inquirer, Editor-in-Chief of the Philadelphia Business Journal and Managing Editor of the American Banker, before being named President of American Banker Bond Buyer Newsletters.

Brian Sullivan is a journalist who has been covering financial services and the insurance industry for 30 years. Today, Brian is editor and publisher of two of the leading newsletters in the property and casualty insurance industry, Auto Insurance Report and Property Insurance Report, and is chairman of annual conferences for those businesses. With a well-earned reputation for speaking his mind, Brian has been called upon to host seminars for the senior management teams and boards of directors for insurance companies of all sizes, and make presentations on industry trends to agents, claims and operations professionals.

General Session

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G-1: No Insurer Is an Island

Download Presentation by Alessandrea Quane
Download Presentation by Kathryn Morgan
Download Presentation by Kris DeFrain
Download Presentation by Kris DeFrain

Insurance boundaries are disappearing. Without exception U.S. insurers and regulators should no longer view themselves as islands unto themselves. Increasingly, the business and regulation of our industry will be influenced as much by developments and trends from across the seas as from within our own shores. Consequently, insurance company self-examination will not be limited to the confines of our own organizational structure but will also require a global perspective that considers emerging macro trends as potential sources of risk.

This international panel will discuss risk management performed by insurers in comparison with the new cadre of solvency monitoring/management schemes rapidly gaining traction and adoption in regulatory arenas around the world. Panelists will provide background and context to current developments and, perhaps even more importantly, suggest how and when these developments will impact actuaries in all practice areas. Insurers around the world are already using these risk management techniques for competitive advantage.

All practicing actuaries should find relevance in this session. Whether a consultant or a regulator, a chief actuary for a large international insurer or a pricing manager for a regional insurer, you likely will soon be called upon, (if you have not already received the invitation!) to participate in risk quantification in multiple facets and applications. This session will shed light on the evolving issues and their implications for you.

    Moderator:
    Mary Frances Miller, Founder and Senior Consulting Actuary, Select Actuarial Services; President, American Academy of Actuaries
    Panelists:
    Kathryn Morgan, Manager, Prudential Insurance Policy, Financial Services Authority (U.K.)
    Kris DeFrain, Director, Actuarial and Statistical, NAIC; Vice President-International, CAS
    Alessandrea Quane, SVP-Chief Risk Officer, Chartis International

Visit the 2011 CAS Spring Meeting Brochure

2010 CAS Annual Meeting

Business Session

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2010 Annual Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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G-1: The Actuary as Leader and Professionalism: Challenges of Today’s Chief Actuary

The chief actuary has been one of the most visible examples of the actuary as leader in our profession. Every professional has had significant contact with this position, as a team member, regulator, adviser, stakeholder, or leader. The role is one of the earliest examples of corporate acceptance of the profession. It remains today the primary example of actuary as leader for all of us.

The position requirements have changed since it first emerged and with it, the changing demands of professionalism. Given the evolution of the profession and business environment, we still have the need to meet necessary levels of professionalism, which presents opportunities and challenges not all readily apparent.

We put this crucial interface between the actuary as leader and professionalism in perspective by offering an in-depth look at this position from experienced leaders. Through a Q&A round table, listen to and participate in the exchange of views on the risks, rewards, and challenges in a lively, free-ranging discussion of the actuary as leader and the professional challenges that arise in all our encounters.

    Moderator:
    Richard Fein, Principal, RIF Consulting, LLC
    Panelists:
    Larry Haefner, Executive Vice President and Chief Actuary, CNA Insurance Companies
    Mike LaMonica, Vice President and Actuary, Allstate Insurance Company
    Janet Fagan, Chief Actuary, Sentry Insurance
    Raymond J. Reimer, Vice President and Chief Actuary, Middle Market, The Travelers Companies, Inc.

Visit the 2010 CAS Annual Meeting Brochure

2010 CAS Spring Meeting

Business Session

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2010 Spring Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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G-1: NAIC Credit Hearings

Download Presentation by Richard Babel Sr.
Download Presentation by Eric Nordman

Although credit has been in use by many companies as a rating, tiering or underwriting factor, it continues to come under intense scrutiny. This scrutiny has been strengthened by the current economic situation and a belief by many that the hardships caused by the mortgage crisis and downturn in the economy have lead to the considerable worsening of scores, and consequently increased insurance rates for many companies. The NAIC has been holding a series of hearings and discussions over the past year, and continues to review and debate the subject.

This session will discuss what has been occurring with the NAIC, and where the organization currently stands. In addition, we will present some of the issues/arguments made by the AAA in their presentation at the hearings last April, and other industry viewpoints.

    Moderator:
    Gary Josephson, Principal, Consulting Actuary, Milliman, Inc.
    Panelists:
    Richard Babel Sr., Vice President, InsurQuote, Inc.
    Eric Nordman, Director of Research, National Association of Insurance Commissioners
    Geoffrey Werner, Managing Director, EMB America LLC

Visit the 2010 CAS Spring Meeting Brochure

2009 CAS Annual Meeting

Business Session

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2009 Annual Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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G-1: Solvency Regulation

Download Presentation by Kathryn Morgan
Download Presentation by Ramon Calderon

The NAIC has started a wholesale review of how they regulate insurers, called the Solvency Modernization Initiative. How does U.S. solvency regulation compare with Solvency II in Europe? This panel features Kathryn Morgan of the U.K.’s Financial Services Authority, who has been deeply involved with the creation of Solvency II, and Ramon Calderon, Director for the Center for Insurance Policy & Research, NAIC. Panelists will discuss Solvency II, the NAIC Solvency Modernization Initiative, and how the concepts of Solvency II may or may not work in the U.S.

    Moderator:
    Cara Blank, Actuary, Massachusetts Division of Insurance
    Panelists:
    Kathryn Morgan, Technical Specialist, Internal Models, Financial Services Authority
    Ramon Calderon, NAIC, Director for the Center for Insurance Policy & Research

Visit the 2009 CAS Annual Meeting Brochure

2009 CAS Spring Meeting

Business Session

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2009 Spring Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members by Past President Bob Anker
  • Presentation of Awards
  • Update from The Actuarial Foundation by Board of Trustees Vice-Chair David Hartman
  • Update from the Society of Actuaries by SOA President–elect Michael McLaughlin
General Session

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G-2: Town Hall Meeting with the Independent Auditor’s Actuary

Interactions among company, consulting, and auditing actuaries continue to grow alongside the rising profile of independent statutory and GAAP audits. The four largest accounting firms conduct over 70% of U.S. independent audits. In this session, actuaries from these firms will share their perspective on the work products they review and some of the more common professionalism issues they tackle. Given the advances being made in determining reserve ranges, how are these ranges incorporated both in the audit approach and in company's financial statement disclosures? Where does the concept of the risk of material adverse deviation (RMAD) fit into financial reporting? What mistakes, conflicts, and issues commonly emerge in year-end audits? What leading practices do companies need to know? This session’s town hall format will give you the opportunity to ask representatives from the top auditing firms to address the questions and issues that you find most relevant.

    Moderator:
    Michael Toothman, Actuarial and Risk Consulting Services
    Panelists:
    Lisa Slotznick, Director, PricewaterhouseCoopers LLP
    Patricia Teufel, Principal, KPMG LLP
    Steven Visner, Principal, Deloitte Consulting LLP
    James Votta, Principal, Ernst & Young LLP

Visit the 2009 CAS Spring Meeting Brochure

2008 CAS Annual Meeting

Business Session

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2008 Annual Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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Understanding Capital and When You Really Need It—Lessons Learned or Not Learned from Subprime

Note: No handouts are available at this time.

The subprime crisis negatively affected a lot of different industries, including the insurance industry. Obviously those companies that had a better understanding of the risks to their capital were better able to weather the storm. What have we learned from this experience, and are there other, similar type problems lurking in the industry, i.e., what other potential areas may adversely affect companies? And what steps, if any, should we be taking?

    Moderator:
    Thomas Hettinger, Managing Director, EMB America LLC
    Panelists:
    Michael Schmitz, Principal and Consulting Actuary, Milliman, Inc.
    Don Mango, Managing Director, Guy Carpenter
    Dave Ingram, Senior Vice President, Willis Re

Visit the 2008 Annual Meeting Brochure

2008 CAS Spring Meeting

Business Session

Watch with Windows Media Player | Watch with Silverlight

2008 Spring Meeting Webcast
  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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Economic Capital Modeling: A Report Card

Over the last five years, enterprise risk models have become instrumental in how we view our business. This roundtable discussion will explore the successes, failures, and opportunities of our modeling efforts to date. It will focus on some crucial questions the modeler faces every day: What reasonable expectations can we have of models? How has the recent subprime crisis affected how we view our models? Can we really rely on estimates at the 1 in 1,000 year level with only 100 years of data? Are our structural models all they are supposed to be or do they appear more robust than they actually are? What are we missing? How should models balance frequency and severity? Sudden (cat) vs. gradual (liability) losses? Will ERM make a difference in the current softening market? Finally, what new actuarial techniques are needed to address these issues?

    Moderator:
    Stephen Mildenhall, Executive Vice President, AON RE Services, Inc.
    Panelists:
    Stephen P. Lowe, Managing Director, Towers Perrin
    John Beckman, Senior Vice President and Chief Risk Officer, CNA Insurance Companies
    David Cummings, Director, Enterprise Risk Management, State Farm Insurance Companies

Visit the 2008 Spring Meeting Brochure

2007 CAS Annual Meeting

Business Session

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  • Ceremony for New Associates
  • Ceremony for New Fellows
  • Address to New Members
  • Presentation of Awards
  • Presidential Address
Professionalism Session

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The Revised U.S. Qualification Standards

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This presentation is offered to help actuaries prepare for the implementation of the new version of the U.S. Qualification Standards, which will take effect January 1, 2008, and will affect most practicing actuaries in the United States. Changes that have been made in the Qualification Standards and details on how to meet the revised requirements are among the topics that will be addressed. Ample time will be allotted for questions from the audience.

    Presenter:
    Mary Frances Miller, President, Select Actuarial Services and Member of the American Academy of Actuaries Committee on Qualifications

Visit the 2007 Annual Meeting Brochure

2007 CAS Spring Meeting

Business Session

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  • Ceremony for new Associates and new Fellows
  • Address to New Members by Past President Steve Lehmann
  • Announcement of Awards
  • Presentation on Variance: Advancing the Science of Risk by Gary Dean, Editor in Chief
  • Update on the American Academy of Actuaries by AAA President Steve Lehmann
  • Actuarial Foundation Presentation by David Hartman
    Download Handout
  • Update on CAS ERM Initiatives by John Kollar, VP-ERM
General Session

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Traditional Actuarial Roles—Putting it All Together in an Enterprise Risk Management Framework

Download Handout 1
Download Handout 2
Download Handout 3

Enterprise Risk Management (ERM) envisions a holistic treatment of risk—both positive and negative—across an enterprise. Pricing and reserving are the traditional actuarial functions. How do those “silos”—pricing and reserving—relate to an insurer’s enterprise-wide ERM process? How is pricing an ERM function? What aspects of reserving coincide with ERM? The panelists will address these and many more issues regarding ERM, including risk and return analysis and planning.

Moderator:
Donald F. Mango, Managing Director, Guy Carpenter & Company, LLC
Panelists:
Russell Bingham, Director of Research and Development, The Hartford
Eugene C. Connell, Senior Vice President and Chief Actuary, Erie Insurance Group
John J. Kollar, VP-Consulting & Research, ISO and CAS VP-Risk Integration and ERM

Visit the 2007 Spring Meeting Brochure

2006 CAS Annual Meeting

Business Session

High Bandwidth | Low Bandwidth

  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
General Session

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AAA Qualification Standards

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The qualification standards in the United States will soon be broadened to cover most statements of actuarial opinion. This seminar examines that which constitutes a statement of actuarial opinion.

  • Do you need to be qualified?
  • How can you tell if you are qualified?
  • What changes are being made to the basic and continuing education requirements?
  • What kind of documentation do you need to keep?
  • Why do we even need qualification standards?

Find out the answers to these and (not all your) other pressing questions.

    Moderator/Panelist:
    Mary Frances Miller, President, Select Actuarial Services

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2006 CAS Spring Meeting

Business Session

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  • Ceremony for New Fellows and Associates
  • Address to New Members
  • Presentation of Awards
  • Presentation on Proposed Constitution and Bylaws Revisions on 2006 Election Ballot
    Download Handout
General Session

High Bandwidth | Low Bandwidth

Visit the 2006 Spring Brochure

Additional Information

To view the webcast, you will need either Microsoft Windows Media Player or Microsoft Silverlight, both free from Microsoft, and a connection to the Internet.

If you experience technical difficulties, please use the online help or call the CAS Office at 703-276-3100 and we will assist you to the best of our ability.