Casualty Actuarial Society

Professional Education

Actuarial Opinions and ASOP Nos. 36 and 43 Webinar

A Webinar presented jointly by CAS and COPLFR

Wednesday, February 2, 2011
12:00 – 1:30 PM (ET)

Session Description

Actuarial Opinions and ASOP Nos. 36 and 43 Webinar

Actuarial Standards of Practice with the most direct impact on Statement of Actuarial Opinion (SAO) assignments are ASOP No. 43 Unpaid Claim Estimates and ASOP No. 36 Statements of Actuarial Opinion Regarding Property Casualty Loss Reserves. The introduction of ASOP No. 43 provided guidance to actuaries on preparing the analysis and report that underlies an SAO. ASOP No. 36 (revision pending) provides guidance for preparing the actual SAO document. This session will review the contents of ASOP No. 43, discussing practical consideration of its application to an SAO assignment. A brief refresher on the contents of ASOP No. 36 will be followed by a discussion of the pending revisions incorporated into the second exposure draft.

Session Outline

ASOP No. 43

  • History
  • Structure
  • Purpose & Scope
  • Issues & Recommended Practices
  • Disclosures

ASOP No. 36

  • Refresher
  • Exposure Draft

Presenter

Lisa Slotznick is a managing director with PricewaterhouseCoopers LLP (PwC) in Atlanta. She is a member of the American Academy of Actuaries and a Fellow of the Casualty Actuarial Society. She is a member of the American Academy of Actuaries Committee on Property Liability Financial Reporting.

Ms. Slotznick is PwC's lead resource on statements of actuarial opinion and actuarial professional standards. In this role, she is a subject matter expert on many financial reporting matters.

Registration Information and Fees

Registration Fees (U.S. Dollars) Received BEFORE
January 21, 2011
Received on/after
January 21, 2011
Individual Registration $50 $75
Multiple Registration*
Multiple registrations must use the same computer and telephone connection.
$250 $300

*Multiple Registrations may provide a list of attendees to the CAS via email, meetings@casact.org so CAS may note attendance for all participants in their CAS member record.

Cancelations/Refunds

Registrations fees will be refunded for cancellations received in writing at the CAS Office via fax, 703-276-3108, or email refund@casact.org, by January 21, 2011 less a $25 processing fee.

CAS Continuing Education Policy

The Casualty Actuarial Society (CAS) designates this educational activity for a maximum of up to 1.8 CE Credits. Participants should claim credit commensurate with the extent of their participation in the activity. CAS members earn 1 CE Credit per 50 minutes of educational session time not to include breaks and/or lunch.

The CAS Code of Professional Conduct states that, β€œan actuary shall perform professional services when the actuary is qualified to do so and meets applicable qualification standards.” The American Academy of Actuaries (AAA) establishes qualification standards for public statements of actuarial opinion in the United States of America. Those standards require that actuaries update and maintain knowledge of applicable principles of actuarial science and actuarial standards of practice and their satisfaction through continuing education. The AAA publication Qualification Standards for Prescribed Statements of Actuarial Opinion provides a complete list of guidelines concerning continuing education. Actuaries attending a CAS seminar to satisfy AAA requirements should review all guidelines in that publication.

2014 CLRS

On-Demand Continuing Education Credit

 

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