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CAS Shows You the Best of Boston at the 2009 Annual Meeting

Join CAS in Boston for the 2009 Annual Meeting. Scheduled for November 15-18 at the The Westin Boston Waterfront. This meeting offers a variety of continuing education sessions, opportunities to sharpen your business skills, and ample time for casual discussion. With two receptions and a dinner, you’ll be able to catch up with old colleagues, make new acquaintances, and simply socialize with actuarial peers.   

This year’s featured speaker will be Senator Paul Sarbanes, who will discuss his co-authoring of the Sarbanes-Oxley Act and what it means for American business. The former senator will focus on how transparent business practices have strengthened the economy and markets, and why it is important for the United States to advocate strong business regulation and ethics.   

Four General Sessions Offered
Federal regulation has been debated for years. With the recent changes in the political landscape, federal regulation has become a hot button issue resulting in several insurance companies being in favor of it and others strongly opposed. One general session will feature the two differing viewpoints in a debate format with each side presenting their case and then allowing their opponent to respond. We will wrap up the session with questions from the audience.   

With two CAS actuaries convicted of violating securities and criminal laws, it is important to review our legal obligations to the public. A second general session reviews the case against five AIG and Gen Re insurance professionals, focusing on the accounting of reinsurance contracts. The facts of the case are reviewed and the audience is walked through the relevant securities and criminal laws. It is an eye-opening presentation that will educate actuaries on how important documentation is, how important it is to be conscious and precise in communications, and other pertinent professionalism considerations.   

A third general session will focus on the NAIC’s Climate Risk Survey Disclosure requirement and the climate risk disclosure inquiries that are now appearing on the rating agency (AM Best, Moody’s, S&P, etc) questionnaires. The discussion will include what the current requirements are and from whom, and what future requirements are likely to appear. The discussion will then address what this means for the actuarial profession and our risk management role in climate change.   

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? Our fourth general session features Kathryn Morgan of the U.K. Financial Services Authority and deputy chair of the Institute of Actuaries’ General Insurance Practice Executive Committee and Terri Vaughan, ACAS, ASA, MAAA, who is the current CEO of the NAIC. Ms. Morgan and Ms. Vaughan 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.   

Concurrent Sessions
Concurrent sessions will delve into various topics like the underwriting cycle, workers compensation and national health care reform, predictive modeling, reserve ranges, usage-based pricing, fair value and international accounting, and professionalism.   

Location, Location, Location
A quick cab ride from the heart of Boston, the AAA Four Diamond award-winning Westin Boston Waterfront serves as the perfect gateway to the city. Take a quick trip over to Back Bay or the Financial District to experience Boston’s unique blend of history and the arts. Or go for a jog along the tree-lined streets with a Runner’s World map, offered by the hotel, designed to show you the best of Boston.   

Don’t miss this CAS tradition convening this year in historic Boston. Register today on the CAS Web Site!

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