Casualty Actuarial Society

Professional Education

Assessing the Value of Risk Reduction

January 7, 2014
12:00 - 1:30 ET

  

Description:

In this webinar Gary Venter and Alice Underwood will discuss the concepts covered by their paper on the value of risk reduction, one of the more recent additions to the CAS Syllabus. They will discuss implications of the actuarial theory of risk reduction in an ERM context, highlighting the reasons why risk reduction can provide a value that significantly exceeds its costs. The webinar will also review various methods for quantifying the value of risk reduction, providing participants with practical ways to assess the question of when it makes sense for a firm to incur costs in order to mitigate risk.

Please note that audio for this presentation will be streamed via WebTalk. The WebTalk platform supports computers, smartphones and tablets including, iPhones, iPads and flash-enabled Androids. In order to join the webinar in a timely manner, please be sure to prepare your computer in advance of the presentation per the system requirements and instructions (TEST YOUR COMPUTER). Group registrants are encouraged to work with their IT departments to insure that the presentation and the presentation's audio can be streamed through a computer.

Intended Audience:

This webinar will be of interest to all CAS members, and of special interest to more seasoned FCAS and ACAS .

Speakers:

Gary G. Venter, FCAS, CERA, MAAA
is Head of Property-Casualty Model Validation at AIG and holds an adjunct appointment at Columbia University teaching graduate level quantitative risk management. In his forty years in the insurance and reinsurance industry he has seen stints at the Instrat group, which started in a small reinsurance broker and eventually ended up at Guy Carpenter, the Workers Compensation Reinsurance Bureau, the National Council on Compensation Insurance, Prudential Reinsurance (now Everest), and Fireman's Fund (now Allianz). Gary has an undergraduate degree in mathematics and philosophy from UC Berkeley and a Masters in mathematics from Stanford University. He has served on a number of committees of the Casualty Actuarial Society and is on the editorial team of several actuarial journals.

Gary has published scores of actuarial research papers and is a frequent seminar speaker worldwide. His focus is now on developing and applying testing methodology for applied models of financial processes.

Alice M. Underwood, FCAS, CERA, MAAA
is an Executive Vice President with Willis Re and leads the Analytics team for Willis Re North America, encompassing actuarial, catastrophe modeling, financial and rating agency advisory, and ERM services. Alice holds a Bachelor of Science in mathematics from The University of Texas and a Ph.D. in mathematics from Princeton University. Her actuarial career has focused on reinsurance and risk management, including positions with Zurich Re in Switzerland, Converium Reinsurance in New York, Guy Carpenter and now Willis Re. Alice has served as a board member of the Casualty Actuaries of Greater New York and in 2008 she was elected to the CAS Board of Directors. In 2011, upon the conclusion of her term as a Board member, she began a three-year term as CAS Vice President– Research & Development.

Registration Information and Fees

  

Registration Fees (in U.S. Dollars) Received on/by
December 24, 2013
Received after
December 24, 2013

Individual Registration

$50

$75

Multiple Registrations*
Multiple registrations must be using 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.

Cancellations/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 December 31, 2013 less a $25 processing fee.

CAS Continuing Education Credit

The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide Actuarial Services. Actuarial Services are defined in the CAS Code of Professional Conduct as "professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings or opinions based upon actuarial considerations." Members who are or could be subject to the continuing education requirements of a national actuarial organization can meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a national actuarial organization recognized by the Policy. For further information regarding the CAS Continuing Education Policy please visit the CAS web site.

CAS Webinars may qualify for up to 1.8* CE Credits for CAS members. 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 amount of CE credit that can be earned for participating in this activity must be assessed by the individual attendee. It also may be different for individuals who are subject to the requirements of organizations other than the Casualty Actuarial Society.

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