The Truth About Loss Reserve Adequacy
A perennial, loss reserves adequacy, has been the subject of intense renewed interest in the past year. This panel will explore loss reserve adequacy from various perspectives addressing, among other things:

• The state of actuarial practice as it relates to loss reserving, both the art and the science;
• Implications from a regulatory, investor, and legal perspective;
• Implications for the education of the actuary; and
• The need for improved communications with users of actuarial estimates of reserves.

This session will also consider what might be done to address this issue in a business like manner.

Moderator:
C. K. "Stan" Khury, Principal, Bass & Khury
Panelists:
Chuck Bryan, President, CAB Consulting, LLC
Joseph P. Dailey, Partner, Dailey & Selznick
Mary Miller, Actuary, Ohio Department of Insurance

Professionalism Standards in Practice
How long has it been since you knocked the dust off of your Actuarial Standards of Practice binder or read the CAS Code of Professional Conduct? This session, which will be facilitated by members of the CAS Committee on Professionalism Education, will discuss several case studies involving professional dilemmas. These case studies are intended to lead to lively and educational audience interaction. We guarantee that you will walk away with an increased awareness of professionalism and its impact on the reputation of the actuarial community.

Moderator:
Richard J. Currie, Vice President and Actuary, American Re-Insurance Company
Panelists:
John T. Gleba, Consulting Actuary, Madison Consulting Group, Inc.
Roosevelt C. Mosley, Actuary, Pinnacle Actuarial Resources, Inc.

A Proposed Global Framework for Insurer Solvency Assessment
Acting in support of the International Association of Insurance Supervisors (IAIS), the Insurance Regulation Committee of the International Actuarial Association (IAA) formed the Insurer Solvency Assessment Working Party in early 2002 to prepare a report on insurer solvency assessment. This report represents the culmination of that mandate and is meant to help develop a global framework for insurer solvency assessment and determine insurer capital requirements.

In the course of its mandate, the Working Party presented its work to various insurance supervisory and actuarial meetings. Feedback from these presentations has been both positive and constructive. This session will discuss the critical components of the Working Party's recommendations. Audience participation and discussion is strongly encouraged.

Moderator/Panelist:
Stuart Wason, Director, Mercer Oliver Wyman, Inc.
Panelists:
Allan Brender, Senior Director, Actuarial Division, Office of the Superintendent of Financial Institutions Canada
Glenn G. Meyers, Chief of Actuarial Research and Assistant Vice President, ISO, Inc.

Fair Value Accounting- Can It Work?
Many practicing actuaries are relatively uninformed about fair value accounting standards and the repercussions they will have on their profession and their employers. This panel will present a brief history of fair value accounting standards and the rationale behind its implementation. Panelists will share their thoughts on whether this new concept makes sense for the insurance industry.

Moderator:
Ralph S. Blanchard, III, Second Vice President & Actuary, Travelers Property Casualty Insurance Company
Panelists:
Mark W. Littmann, Principal, PricewaterhouseCoopers LLP
Stephen P. Lowe, Principal & Consulting Actuary, Tillinghast-Towers Perrin