Inforce management has become a hot topic and one involving considerable risks due to: disputes, arbitration and litigation surrounding direct company non-guaranteed elements and reinsurance rate increases; equitable treatment of classes of insureds for both non-par and par business; and differentiating between one-time events and trends. Presenters of this session will briefly explore these developments through the eyes of the risk management function and examine historical experience, prospective risks and industry trends, documented company practices, risk control and the accompanying modeling of operational and legal risk.
At the conclusion of the session, attendees will be able to:
• Identify existing and emerging risks involved with managing inforce or closed blocks of business; and
• Identify legal risks, professional practice standards and company risk tolerance/appetites, documented practices, measurement mechanisms and controls.
1.50 SOA CPD
Joint Risk Management Section