The Independent Consultant
May 2010, Issue No. 30

Issue Notes from the Editor

by Bill Ely

In this quarter's issue of The Independent Consultant, we continue to offer ideas for the actuarial entrepreneur.
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From the Chairperson—It's the Summer of 2010 ...

by Larry Stern

Usually the start of the summer months brings a slowdown in activity. Children are out of school. We take vacations (what's that!?!). It's generally just a period when business takes a breath from the activity at the beginning of the year, and before we all realize come September, the year is almost over. I don't know about your business, but mine is still going full force. With the economic crisis recovery, there is new capital available to deploy to those in need. It's a scramble to get to clients on a first-come, first-served basis, because come September the capacity will likely be depleted.
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Consulting Actuaries: Professionals and Entrepreneurs

by Jay M. Jaffe

At the IAA Cape Town, South Africa meeting in March, 2010 the International Association of Consulting Actuaries (IACA) sponsored a panel entitled "Consulting Actuaries: Professionals and Entrepreneurs." This article is a compilation of their presentations and comments during the Q&A period. It is intended both as a very brief recap of the session, as well as a forum for helping consulting actuaries discuss some of the issues they face.
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Information Technology—A Double-Edged Sword

by Andrew Chan

Technology has transformed the way we do business. We can make timely, informed decisions by extracting meaningful business information from a multitude of recorded data, literally in seconds. We can improve our customer satisfaction by automating the order processes and letting our customers check their online status. However, information technology is a two-edged sword. It can seriously damage your business if you don't handle it properly.
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Insurance Solutions: Why Customizing Is Crucial

by Jim Mooradian and Bryan Lambert

One size does not fit all when it comes to some insurance solutions. Whether you are planning for your own insurance needs or a client is seeking your advice about insurance plans, it may be useful for you to recognize that employers and employees often misunderstand the types of coverage they own.
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The Potential Impact of President Obama's Financial Regulatory Reform on Start-Up Companies

by Michael Baker

President Obama released his plans for financial regulatory reform on June 17, 2009.1 While the proposals are not entirely surprising given the state of the economy, they do reflect a potential fundamental shift in the regulation in our capital markets. This paper outlines the extent of the issues facing a start-up company due to the Administration's proposals, and offers solutions to the problems facing these entrepreneurs.
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ERM Executive Compensation

by Nian-Chih Yang

Enterprise Risk Management (ERM) enhances a company's long-term stock growth. Executives' buy-in is essential for the success of ERM. The proposed Stock Performance Protection Plan (SPPP), with the inducement of stock performance floor protection, encourages the executives to fully participate in ERM. The insurance companies have a long history of partnership with their clients to manage the various risks their clients face. The SPPP can be the vehicle for the insurance companies to help their clients control risks and attain long-term growth.
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VOTE! SOA 2010 Elections Open. Let Your Voice Be Heard.

The SOA 2010 elections are open. Online voting is open 24 hours a day from August 9 through September 3 at 5 p.m. Central Daylight Time. View the 2010 president-elect candidates as they discuss their platforms. Learn more about candidates for president-elect, vice president, board of directors and section council positions. Visit the Q & A page to better understand the nominating and election process. If you have questions, e-mail elections@soa.org. Most importantly, VOTE! It's important and it's easy! Let your voice be heard!
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Are You Prepared for CPD Attestation?

Be sure you're ready when attestation opens on November 1. If you know your compliance path, have tracked your CPD credits, and are sure the SOA has your e-mail address, then you're ready to attest. We'll send out information about attestation via e-mail. Once you get the link, log in to the membership directory to attest compliance with a few mouse clicks. Learn more about this simple, but important process.
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Koppel to Speak at SOA 2010 Annual Meeting & Exhibit

We're gearing up for this year's meeting and yes, we have Ted Koppel—the man who has given us years of insight into the biggest news stories of our time and who is offering his take on current events as an NPR news analyst. We've also lined up plenty of networking opportunities and great sessions with hot topics. Join us October 17&-20 as we head to New York, a city on the move. Vibrant. Electric. And we plan to infuse that energy into this year's meeting. Be there—in the city that doesn't sleep.
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