Facts and perceptions regarding loss reserves, adequate risk transfer for reinsurance accounting, and developments in regulatory capital models around the world will be featured topics during the Annual Meeting of the Casualty Actuarial Society (CAS), Nov. 13-16, at The Renaissance Harborplace Hotel in Baltimore.
The meeting provides a forum for actuaries and other professionals to stay abreast of current issues affecting the insurance industry and the actuarial profession, as well as opportunities to interact with other actuaries from around the globe.
The featured speaker is Roger Lowenstein, author of Buffet: The Making of an American Capitalist and When Genius Failed: The Rise and Fall of Long-Term Capital Management. Currently a writer for Smart Money magazine, Lowenstein reported for the Wall Street Journal for more than 10 years and wrote the Journal’s “Heard on the Street” column from 1989 to 1991 and its “Intrinsic Value” column from 1995 to 1997.
Four general sessions are planned:
* Loss Reserves-Facts and Perceptions will take a broad view of reserving practices and techniques from both a United States and United Kingdom perspective.
* Risk Transfer will feature a roundtable of actuaries and accountants who are familiar with risk transfer requirements. They will discuss and debate several methods for determining whether particular contracts transfer actuarial risk.
* Rating Agencies will present members of various rating agencies discussing the factors that influence their risk-based capital models and the issues that they feel have defied precise quantification to date.
* Developments in Regulatory Capital Models Around the World will discuss how different regulators determine whether an insurer’s or reinsurer’s capital is sufficient for regulatory purposes. The session will center on the new capital requirement models that focus on the use of company-specific data and a company’s own internal models.
Other topics to be covered include: accounting implications of actuarial decisions, actuarial opinions and risk of material adverse deviation, advancements in hurricane risk management, current loss reserving developments, enterprise risk management, trends in tort litigation, operational risk, predictive modeling, profit sharing plans, Sarbanes-Oxley, state vs. federal regulation, the reinsurance market, and asbestos litigation.
The registration fee is $775 for active members, candidates, affiliates or subscribers of the CAS or of an actuarial organization worldwide, if received by Oct. 28. After that date, the fee will increase to $825. For more information and for a registration brochure, visit the CAS Web Site at www.casact.org.