• ASTIN Reinsurance Paper Presentations

  Authors of ASTIN papers on reinsurance will present their papers on the joint day. During the discussion, the authors will elaborate on the technical aspects and the methods applied to their research, and present further developments. The presentations typically initiate a lively audience debate on the topic, which gives all participants the opportunity to further explore the subject.

• Representations, Warranties, and Other New Professional Liability Products

  This panel will provide an overview of the new and exciting professional liability coverages of Transactional Risk Insurance. The panelists will also discuss the underwriting and pricing issues relating to these coverages, which include representations, warranties, and other transactional related coverages.

  Moderator:
  William Hopkins
  Vice President
  American Re-Insurance Company

  Panelists:
  David S. DeBerry
  First Vice President
  The Hartford
  Peter Szendro
  Vice President
  Zurich Reinsurance (North America)

• Aggregate Distribution Modeling

  This session will address correlation and other advanced topics relating to modeling aggregate loss distributions. Topics will include:

  • Correlation issues in reinsurance;
  • Correlation models including copulas and common shock models;
  • Different measures of correlation and why they are not sufficient;
  • Brief discussion on the benefits and drawbacks of using simulation, closed form, and Fourier transform methods to calculate aggregate distributions; and
  • Distribution back-testing and statistical evidence.

  Moderator:

  Michael J. Belfatti, FCAS
  Vice President
  ACE Financial Solutions

  Panelists:
  Glenn G. Meyers, FCAS
  Chief of Actuarial Research
  Insurance Services Office, Inc.
  Shaun S. Wang, ACAS, Ph.D.
  Associate Actuary
  SCOR Reinsurance

• Finite Risk Reinsurance

  The finite risk market is continually changing, bringing new challenges and opportunities to those involved. This session will look at the current state of the market with an eye towards recent trends as well as future demand for these products. Panelists will present viewpoints of both the underwriting and brokerage sides of the finite risk business.

  Moderator:
  David L. Drury, FCAS
  Senior Vice President and Chief Actuary
  Tempest Re USA

  Panelists:
  Robert N. Darby, FCAS
  Senior Vice President
  Zurich Reinsurance (North America)
  Gary R. Kratzer, FCAS
  Managing Director
  Guy Carpenter & Company, Inc.

• Non-U.S. Liability Insurance: Pricing and Reserving Challenges

  As more insurers and reinsurers enter into the reinsurance of international exposures, U.S. actuaries are beginning to address the many pricing and reserving challenges of overseas countries. There are differences in the available data, benchmarks, and current nonactuarial practices in various regions of the globe. This session will focus on pricing international exposures, reserving issues in other countries, as well as the difficulties faced securing reinsurance for non-U.S. exposures. Also covered will be an approach to estimating size of loss distributions for foreign risks.

  Moderator:
  Michael E. Angelina, ACAS
  Consulting Actuary
  Tillinghast-Towers Perrin

  Panelists:
  James M. Maher, FCAS
  Vice President-Director
  St. Paul Re
  Charles Aman
  Vice President
  Towers Perrin Reinsurance
  TBD

• Reinsurance Options and Derivatives

  This session will explore derivative instruments available in the marketplace and methods used to price and evaluate these products. Accounting treatments and FASB 133, which governs accounting for derivative instruments, will also be discussed.

  Moderator:
  Elizabeth E.L. Hansen, FCAS
  Senior Vice President
  Guy Carpenter & Co. Inc.

  Panelists:
  Philip A. Kane, ACAS
  Vice President
  Salomon Smith Barney
  Philippe Joly
  Vice President
  Salomon Smith Barney
  TBD

• Workers Compensation

  The panelists will discuss current conditions and recent developments in workers compensation. Topics will include legislative and regulatory activity, trends in loss frequency and severity, and an analysis of medical costs. Issues affecting both prorata and excess of loss reinsurance will be discussed.

  Moderator:
  George N. Phillips, FCAS
  Vice President & Associate Actuary
  Transatlantic Reinsurance Corp.

  Panelists:
  Kay K. Rahardjo, FCAS
  Vice President
  Liberty Mutual Insurance Company
  TBD

• Advanced Reinsurance Reserving Topics

  Using stochastic methods to reserve for finite reinsurance contracts is the first of two topics to be discussed in this session. The session will also introduce the concept of "speed-of-settlement" contracts as a reinsurance product being offered to offshore reinsurers. The presentation will focus on how to quantify an accurate liability for these types of contracts from a statutory accounting perspective, with an emphasis on using stochastic methods to determine a release of reserves and, thus, an earning of profits on these contracts.

  The second topic will be on analyzing and negotiating commutations of reinsurance contracts. The session will focus on the key issues that arise during negotiations and the challenges in performing actuarial analysis of these commutations.

  Moderator:
  Douglas W. McKenzie, FCAS
  Vice President
  Zurich Reinsurance (North America)

  Panelists:
  Jeffrey W. Davis, FCAS
  Chief Reserving Actuary & Vice President
  American Re-Insurance Company
  Sandra C. Santomenno, ACAS
  Actuary
  Employers Reinsurance Corp.

• Latent Exposures

  This panel will discuss both new and more established latent liabilities, including an update on recent developments with asbestos, and a discussion of new torts such as toxic mold, tobacco, MTBE, lead, and alcohol. A brief discussion will follow of how these liabilities can effect the balance sheet and value of insurance and reinsurance companies.

  Moderator:
  Bruce D. Fell, FCAS
  Vice President
  Am-Re Consultants, Inc.

  Panelists:
  Jennifer L. Biggs, FCAS
  Consulting Actuary
  Tillinghast-Towers Perrin
  Michael Frantz
  Vice President
  American Re-Insurance Company

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