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STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
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STAY TUNED! If you are anticipating additional search filters by attribute and level to align with the CAS Capability Model, it is coming later this Summer. As the CAS begins to code recorded sessions by specific attributes and levels (starting with the 2023 Annual Meeting), these will be tagged in the CAS database of presentations going forward and should be searchable.
But you may use the Capability Model now to help you identify topics. For example, if you want to move up one level under the content area “Functional Expertise,” you may search topics in the particular functional area to expand your knowledge.
Recorded content is searchable by Capability Model attribute and level in the CAS Online Library.
Automobile Ratemaking in the U.S. and U.K.
The U.K. is the one market outside of North America where U.S. actuaries feel most at home. The actuarial training is the most similar to our own, the business
culture is quite similar, and we do speak the same language. Underneath the surface similarities there are many differences to explore, such as the role of rate regulation and product design. How do these differences affect the way that ratemaking is performed? This session is intended to give the CAS actuary a view into how different actuarial work can be and to challenge our own ideas of actuarial fairness.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Alan Hines
Panelists:
Kevin Kelso, Michael Brockman
The Use of Credit History in Underwriting/Pricing
Public and private databases have made more demographic data available to insurance companies. Research has shown that while some of this data may appear to have no causal relationship to insured losses, it may have significant predictive value. Credit history, in particular, has drawn significant attention by insurance companies, regulators, and consumer groups.
Recent actuarial literature demonstrates the value of using credit information in homeowner and private passenger automobile risk selection. Credit bureaus have also developed scoring models to assist insurers in their risk selection.
Consumer groups, however, are concerned that use of credit will have a disparaging impact on low income consumers who can least afford insurance. The NAIC continues their work on this issue as state insurance departments begin to develop regulations on when and how credit information may be used for insurance underwriting and pricing. The panelists will discuss the issues surrounding the use of credit information in a question and answer debate format.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Brian Brown
Panelists:
Eddy Lo, Mona Carter, Steven Sheffey
Package Pricing for Small Commercial Accounts
This session will discuss the multiperil insurance product as it specifically relates to smaller commercial accounts. Often the small business does not generate enough premium to qualify for the individual rating plans that larger risks enjoy. The panel will discuss how large carriers approach their smaller commercial accounts.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Oakley Van Slyke
Panelists:
Kathleen McMonigle
Pricing Large Insureds
Actuaries are faced with several challenges when pricing large accounts. Oftentimes, the account will have significant data to use in pricing. However, the data are usually not fully credible and may not be reflective of future exposures. Therefore, in pricing large accounts, it is necessary to weigh individual client data with industry data after appropriate adjustment. This session will discuss various approaches to blending account-specific data with industry data.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Oakley Van Slyke
Panelists:
Christopher Claus, Stewart Gleason
Nonmedical Professional Liability
Unique ratemaking considerations of nonmedical professional liability coverages are the topic of this session. The calculation of rates for claims made, extended reporting, and prior acts coverages, will be addressed, along with a discussion of the unique considerations involved in establishing classification plans. Practical examples will be provided.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
James Surrago
Panelists:
Denise Olson
Patients' Rights Liability Issues
Various emerging liability issues within the health care system have defined new legal responsibilities for medical professionals, health care providers, and
managed care organizations. In this session, panelists will review recent changes in case law and legislation that have affected exposure under traditional medical malpractice policies as well as other types of liability coverage. A practical case study illustrating the actuarial implications for assessing coverage within a managed care organization will be provided. Additionally, panelists will review the history of patient rights laws affecting the liability of long-term care providers, along with the corresponding impact this has had on the frequency and severity of liability claims for this unique provider group.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
James Surrago
Panelists:
Theresa Bourdon, Richard Lord, Stephen Klein
Basic Techniques for Workers Compensation
Basic techniques in workers compensation ratemaking, including a description of coverages, exposure bases, and databases will be covered in this session. The panel will also review the essential components of a typical rate filing from the perspective of the National Council on Compensation Insurance, other bureaus, and from the view of companies in loss cost jurisdictions.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
James Surrago
Panelists:
Andrew Doll
The Cost of Financing Insurance
This session will analyze how to use dynamic financial analysis to determine profitability targets for the various underwriting divisions of an insurance company. The cost of financing an insurance company is defined to be the combined cost of capital, reinsurance, and options on a catastrophe index. This analysis will develop an approach for allocating the cost of financing back to the individual underwriting divisions.
The original research on this topic, "The Cost of Financing Insurance_Version 1.0," is the CAS Forum's first "virtual paper" and may be found at www.casact.org/pubs/forum/00sforum/meyers/index.htm
Source:
2001 Ratemaking Seminar
Type:
concurrent
Panelists:
Glenn Meyers
Profit and Contingencies in Ratemaking
This panel is intended to provide a forum for active audience participation and will include a panel discussion of an overview of the myriad of methodologies of how insurance profit reflected in ratemaking. An overview of regulatory mandated procedures will be discussed including the views of their inherent strengths and weaknesses. These procedures will be compared and contrasted to panelists views on the most appropriate methods and considerations. What is the best way to measure and reflect the cost of capital in the sense of the Principles of Ratemaking? How does one enhance shareholder value, stay competitive, comply to regulatory constraints, and comply to the statement of principles of ratemaking in a holistic manner? These and more issues will be explored during the course of the session. Two of the panelists are co-authors of the textbook titled Actuarial Considerations Regarding Risk and Return in Property-Casualty Insurance Pricing. Another panelist provides an overseas perspective.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
James Surrago
Panelists:
Benedetto Conti, Russell Bingham
Risk & Return: Parameter Estimation
Ok. We've addressed the considerations. Now how do we estimate the parameters? As the audience is expected to understand the actuarial considerations discussed in FIN-10 , this session will discuss how to estimate and reflect the parameters relating to financial models used to measure risk and return as well as discuss recent research activities related to the CAS Risk Premium Project. What investment yield should be assumed? Is CAPM alive and well as regards risk./return measures? What are alternative measures? How should federal income tax be reflected? (Should one use an after-tax discount rate or should one explicitly reflect federal income taxes in ratemaking?). How does one measure the cost of capital and how does one reflect it in ratemaking? These and other issues will be addressed in this session.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
David Chernick
Panelists:
David Appel, Richard Derrig
Risk & Return: Actuarial Considerations
This session is intended to discuss the essential elements of financial models used to gauge and measure risk and return and the corresponding actuarial considerations in reflecting fair rates of return in ratemaking. Specific approaches that will be discussed include market value, discounted cash flow, and internal rate of return models, with a focus on the attributes of a complete rate of return model. This session will discuss basic concepts, including considerations related to balance sheets, income statements, cash flows related to both policyholders and shareholders. Issues addressed will include policy year versus calendar year results, economic value vs. accounting statement value, measures of total return, surplus attribution vs. surplus allocation, actuarial vs. financial theory of risk, appropriate risk measures, regulatory issues, and federal income taxes.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
David Chernick
Panelists:
Russell Bingham
The Effect of Emerging Information and Technology Capabilities on Basic Business Applications
More detailed information and more advanced (and user-friendly) technology is available to insurers and others to solicit, underwrite, and price individual risks. These capabilities will become rapidly and continually updated in the future. Are the underwriting and rating strategies you help develop being subverted by wrong and/or missing data? This panel will identify and discuss the impact of these new capabilities on today's business world.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
David Chernick
Panelists:
William Raichle, Robert Foglio
Quantifying E-Commerce Risk
Since the advent of business being done over the Internet, e-commerce companies have been facing traditional P&C risks with new twists. For example, business continuation claims can now be triggered by an e-mail that says, "I love you." Not only is this trigger new, but so is trying to determine the damages for business with minimal revenue and market values in the billions. The panelists will discuss the risks that e-commerce sites face, present a methodology to quantify the risks involved in running an e-commerce site, and use a real case study to demonstrate the methodology.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Michael Angelina
Panelists:
Charles McClenahan, David Fishbaum
The Indication-Is That Your Final Answer?
Inexperienced actuaries believe that their work is complete once the indication has been developed. But in reality, this is just the first step. The indication is just that, an indication, not a final answer. The actuary must interpret the indication for its validity as a projection. Were there any anomalies in the data that distort the indication? Are there any changes, or planned changes, in practice that would affect the indication? Then the actuary must evaluate the marketplace and competitive position, including impact on customer retention, agent's reaction, and potential adverse selection. This gives an alternative view of how much rate one could take. Finally, the actuary must evaluate alternative means to affect revenue that can address the indication, other than base rate changes, such as expense modifications, underwriting guidelines, and the like.
Once an approach is determined, an actuary can also stress test the planned action though scenario modeling or other approaches. This panel will develop these concepts through the use of various examples and alternative approaches.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Panelists:
Mark Homan, Roger Schultz
Introduction to Data Management 101
Session panelists will address basic issues behind data management, issues of privacy and confidentiality, the actuarial standards concerning data quality, issues concerning how to control the data, and the need to be concerned about data quality.
Source:
2001 Ratemaking Seminar
Type:
concurrent
Moderators:
Dee Mays
Panelists:
Alan Hapke, Donald Wulf, Joan Klucarich
Introduction to Generalized Linear Model (GLMs) in Ratemaking
The use of Generalized Linear Models (GLMs) has become increasingly important in ratemaking, specifically in regards to classification studies. The speaker will provide an introduction to GLMs drawing his remarks from his award winning CAS paper, "Something Old, Some New in Classification Ratemaking with a Novel Use of GLMs for Credit Insurance". He will also present some new practical examples using GLMs.
Source:
2001 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Keith Holler
Keywords:
GLMs, Generalized Linear Models, ratemaking, classification studies
Operational Risk and the New Basel Capital Accord
The Basel Committee on Banking Supervision is in the process of revising the 1988 Basel Capital Accord. The three pillars of the revised framework include minimum capital requirements, a supervisory review process and effective use of market discipline. The primary changes to the 1988 Accord are modification of the approach to credit risk and the addition of an explicit capital requirement for operational risk. This session will provide an overview of the new Accord, the definition and types of operational risk, and the role of insurance in mitigating those risks. It will specifically focus on the modeling and measuring of operational risks, the resulting calculation of the minimum capital requirement, and possible modifications of the calculation to recognize the benefits of insurance.
Source:
2001 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Peter Burchett, Wendy Dowd
Keywords:
minimum capital requirements, credit risk, operational risk
Trends in Directors and Officers (D&O) Insurance
There has been growing concern about increasing severity trends in D&O insurance. This session will provide an overview of the current legal landscape in the U.S., with particular focus on securities litigation, and will discuss recent developments that may impact the conduct and outcome of D&O cases. The results of the latest Tillinghast D&O claim survey will also be presented as well as a discussion of noticeable trends.
Source:
2001 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Brian Kristiansen, Jeremy Pecora
Keywords:
D&O insurance, securities litigation
Evaluating Reserves in a Changing Claim Environment
This session will present the paper that won the award for the CAS Committee on Reserves 2001 Call for Papers. The title of the paper is "Evaluating Reserves in a Changing Claim Environment". The paper was co-authored by Aaron Halpert, Scott Weinstein and Christopher Gonwa. The paper discusses various claims department initiatives recently undertaken by many insurers and the impact of these changes from both an actuarial and claims personnel perspective. Changes in traditional actuarial techniques necessitated by these initiatives are also presented.
Source:
2001 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Aaron Halpert
Keywords:
Reserves 2001 Call for Papers, claims department initiatives
Financial Analysts' View of the Property-Casualty Marketplace
In this session, we will hear from analysts from two prominent investment banks. They will describe for us the process they follow when scrutinizing publicly held insurance entities. An increasingly important topic for many of us, we will learn more about which aspects of insurance company operations to look at closely. Both of these speakers are also actuaries and it will be interesting to understand how this background has impacted their work. In addition, they will discuss what they see as the most prominent challenges for the industry in the near future.
Source:
2001 Regional Affiliate - CAGNY
Type:
affiliate
Panelists:
Todd Bault, Meyer Shields
Keywords:
investment, scrutinizing publicly held insurance
Reinsurance Pricing and Reserving- Intermediate Track
This session will cover the new reinsurance chapter from the revised 4th edition of the CAS Foundations of Casualty Actuarial Science textbook, being published this year. The chapter's author, Gary Patrik, will introduce the chapter and discuss the functions of reinsurance and types of contracts. Chris Svendsgaard will briefly discuss reinsurance pricing techniques for proprotional excess of loss, and aggregate excess contracts. Bill Belvin will discuss reinsurance loss reserving techniques, with numerical examples outlining different reserving methodologies.
Source:
2001 Seminar on Reinsurance
Type:
concurrent
Moderators:
Kari Mrazek
Panelists:
Christian Svendsgaard, William Belvin
Keywords:
reinsurance, Foundations of Casualty Actuarial Science, reinsurance pricing techniques for proprotional excess of loss, and aggregate excess contracts
Analyzing Loss Sensitive Reinsurance Treaty Terms
Covering both technical and practical issues behind evaluating loss sensitive treaty terms, this session will discuss excess-of-loss and prorata contract terms, including profit commission, sliding scale commissions, and swing rates. The speakers will use numerical examples to illustrate how to use an aggregate loss distribution to analyze various treaty terms. This session is intended for people with three or fewer years of reinsurance pricing experience.
Source:
2001 Seminar on Reinsurance
Type:
concurrent
Moderators:
Douglas McKenzie
Panelists:
Jeffery Dollinger
Keywords:
echnical and practical issues behind evaluating loss sensitive treaty terms, profit commission, sliding scale commissions, and swing rates
Reinsurance Paper Presentations- Stochastic Dominance: A Tool for Evaluating Reins Alternatives
This year the Committee on Reinsurance Research is sponsoring a call for papers on "Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios." The best papers, including the prize-winning paper, will be presented at the seminar.
Source:
2001 Seminar on Reinsurance
Type:
Paper
Panelists:
Daniel Heyer
Keywords:
Committee on Reinsurance Research, Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios
Reinsurance Paper Presentations- Measuring Value in Reinsurance
This year the Committee on Reinsurance Research is sponsoring a call for papers on "Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios." The best papers, including the prize-winning paper, will be presented at the seminar.
Source:
2001 Seminar on Reinsurance
Type:
Paper
Panelists:
Gary Venter
Keywords:
Committee on Reinsurance Research, Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios
Reinsurance Paper Presentations- Strategic Insurance Purchasing
This year the Committee on Reinsurance Research is sponsoring a call for papers on "Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios." The best papers, including the prize-winning paper, will be presented at the seminar.
Source:
2001 Seminar on Reinsurance
Type:
Paper
Panelists:
Kevin Bingham, John Slusarski
Keywords:
Committee on Reinsurance Research, Using Dynamic Financial Analysis to Optimize Ceded Reinsurance Programs and Retained Portfolios.
