Actuarial News 2010 - PowerPoint PPT Presentation

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Actuarial News 2010

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Presentation Transcript

  1. Actuarial News A Presentation by Claude Penland, Associate of the Casualty Actuarial Society

  2. Technical News Actuarial Careers Regional News Global News Regulatory News Reinsurance Actuaries in the News Professional Questions Other Actuarial News Wrap Up Topics We Will Cover

  3. Technical News • Catastrophe Risk Trends PowerPoint Presentation • Predictive Analytics, Modeling News and Trends Presentation • Pension Risk Trends, News and Info Presentation • Takaful and Retakaful Trends PowerPoint Presentation

  4. Technical News, Two • Lifetime Income Options, including Annuities, discussed regarding 401(k)s • Actuary discusses Modeling Loss Reserve Risk • Emerging Risk in Life Insurance, A New Approach for Actuaries • Government-issued longevity bonds as an insurance trend to watch

  5. Technical News, Three • Healthcare receivables securitization trends • SCOR Global Risk Center Launched at • Casualty Actuarial Society Meeting Presentations Database Online • Competitive Market Analysis of Auto Insurance Companies

  6. Technical News, Four • Open Source Insurance Loss Simulation Model Released by the Casualty Actuarial Society • Nyhart Actuaries Design New 401(k) Plan • Medical Malpractice Costs to Increase a Bunch, Premiums to Follow • Annual Retiree Healthcare Costs in New Jersey for State Employees to double

  7. Actuarial Careers • The C-Level Actuary: How Did Actuaries Get Beyond Their Actuarial Jobs? • Will the CERA become the “gold standard” for risk management? • Classroom Guide for Actuaries Published by the Actuarial Foundation • Actuarial Careers Named One of Fifty Best Careers for 2011

  8. Actuarial Jobs, Two • A Comparison of Three Disciplines’ Insurance Salary Surveys’ Medians, C-level • “There are almost no unemployed experienced actuaries” • Actuarial Science very, very popular major among Overseas Students in the US • Actuarial Intern discusses her Actuarial Internship at Allstate

  9. Actuarial Jobs, Three • Actuarial Jobs are too hard to fill, say recruiters • Actuarial Students sought by the Casualty Actuarial Society • Lloyd’s Managing Agents hire 126 actuaries. Solvency II a major reason. • Solvency II expected to create 250+ actuarial jobs in Ireland

  10. Actuarial Jobs, Four • Captive Insurance Jobs up in Vermont: Accountants, Actuaries, Lawyers • Actuaries and risk analysts working in virtual economies? • States individually plan to hire actuaries to review health rates

  11. Regional News: North America • Actuarial Obesity Study of Canada and United States Estimates $300 Billion Economic Cost • US Social Security’s Future • Michigan State University Adds Actuarial Science Degree

  12. Regional News: North America, Two • Potential Pandemic Price Pegged by Society of Actuaries at up to $290 billion • 10 Barriers to Retirement Planning Advice Identified by the Society of Actuaries

  13. Regional News: Europe • 108 European Insurance and Reinsurance News Highlights, Trends • Check Out the $51 Billion Windstorm Europe Will Need to Prepare For Under Solvency II • UK Actuaries funding Enterprise Risk Management Projects

  14. Regional news: Europe, Two • UK Charities with compulsory pension enrollment might have problems • New United Kingdom Actuarial Motto • “Pirate Attacks Make Risk Estimation Difficult”, say UK Actuaries

  15. Regional News: Bermuda • Bermuda Insurance Reinsurance Stories and Transactions, PowerPoint Presentation

  16. Regional News: Asia • 17 Highlights from the Insurance Market in India • India’s Regulator tells 24 Property & Casualty Insurers to Hire More Actuaries • Institute of Actuaries of India Aims to Expand into South Asia and Asia Pacific

  17. Regional News: Asia, Two • China and Hong Kong PowerPoint Presentation, Insurance Wrap Up • China Association of Actuaries looks to join the IAA

  18. Worldwide News • Insurance Mergers / Acquisitions Trends, News, Presentation • Startups in Insurance, Reinsurance Presentation • Global Chartered Enterprise Risk Analyst Website Launched

  19. Worldwide News, Two • Enterprise Risk Management, the Role of Actuaries • Mobile Payments in Emerging Economies could help Insurance Penetration • Which Insurance Companies have the most Twitter followers?

  20. Regulation News • Solvency II PowerPoint Presentation • The Future of Insurance Regulation, from the Actuarial Review • NAIC Life and Health Actuarial Task Force To Weigh In on IASB Proposals

  21. Regulation News, Two • Azerbaijan to License Actuaries • Groupe Consultatif Actuariel Européen Explains Insurer Insolvencies vs. Bank Failures • First actuaries certified in Armenia

  22. Reinsurance • Reinsurance Trends, News, Analysis PowerPoint Presentation • Alex Krutov’s recent Insurance-Linked Securities book, a review • Reinsurance C-Level Salary Survey

  23. Actuaries in the News • Brian Duperreault, Actuary, CEO, Elected to Insurance Hall of Fame • Former Actuary Writes Book, “The Influential Actuary” • Governance Task Force Report Released by the American Academy of Actuaries • David Axene finds errors in health insurance rate calculations

  24. Actuaries in the News, Two • Actuarial Awards Announced in Europe • University of St. Thomas Wins Travelers Actuarial Case Competition • Actuarial Science Scholarships at Illinois State University

  25. Professional Questions • Who is more Dangerous, a Serial Killer or your Life Partner? • Is Chief Actuary the Most Visible Example of Actuarial Professionalism Today? • Eddie Smith, Actuary, Discusses Web 2.0 and Actuaries • Cavanaugh Macdonald Consulting Receives Patent on Interest Rate Smoothing Algorithm

  26. Professional Questions, Two • Powerful Hospitals Increase Prices? Powerful Health Insurers Hold Prices In Check? • NY Times discusses US States’ Pension Accounting • What is Dynamic Financial Analysis? • Should New Jersey Declare Bankruptcy Over Their Pension Deficit?

  27. Other Actuarial News • London Life/Great-West Life to Pay $455.7 million based on Actuary’s lawsuit • Online casinos taking bets on hurricanes • Casualty Actuarial Society High School Scholarship for Diversity

  28. Other Actuarial News, Two • Actuaries Rock • The Band Blind Actuaries is Back

  29. Wrap Up • On, I write at least six posts a day on the business issues that I explore daily. These include Insurance News, M&A, Startups & Trends; Web Development & Trends; Web Startups; Odd Business Ideas; Global Finance & Investment; Reinsurance; Catastrophe Risk; Predictive Analytics; Solvency II; Pensions; Risk Management and Takaful. • Thank you!