Description: Newly released spring 2019 data added to the Actuaries Climate Index show that more frequent extreme weather and increases in sea level continue to push the index upward. The ACI’s five-year moving average now stands at 1.16, up from 1.12 last quarter.

Description: Broaden your understanding of how long-term care (LTC) is provided and brainstorm with other actuaries on ways to help society fund future LTC solutions. How we fund and provide LTC for our loved ones has changed over time and will evolve still by the time we retire. In this session we will explore the variety of ways that we fund LTC services: out of pocket and with informal care, Medicaid, lifeplan communities (Continuing Care Retirement Communities and and the Continuing Care at Home model), private LTC insurance and more. You will leave the session appreciating that providing long-term care is a key feature of our aging society and understand the variety of ways that we fund LTC today and may in the future.

Description: This research report examines readers to Insurance-linked securities (ILSs) emphasizing catastrophe bonds (CAT) and industry loss warranties (ILWs).

Description: The Casualty Actuarial Society, Canadian Institute of Actuaries, and the Society of Actuaries' Joint Risk Management Section and the Joint Risk Management Research Committee are pleased to make available a new report on the application of ERM. Authored by Bonnie-Jeanne MacDonald, Sim Segal, Michael Wolfson and Heidi Walsh, the report provides a novel demonstration on how ERM can be applied to serve the Canadian public by informing decision makers on the risks facing the current and future delivery of long-term care.

Description: The U.S. life insurance industry has been increasing its exposure to complex assets, either directly as investors or via offshore reinsurance (e.g., Bermuda). In order to address regulatory concerns about such investments and reinsurance arrangements, the NAIC has begun multiple initiatives to improve disclosure and strengthen regulatory requirements, and the Bermuda Monetary Authority is also strengthening its requirements. Hear a summary of these initiatives, and get an update on the latest developments at the NAIC and at the Academy on these topics.

Description: Learn about prevalence-induced concept change and other cognitive biases. And find out how such biases can be linked to common actuarial practices (e.g., the application of the bias to stringency of enterprise risk management frameworks, in the case of prevalence-induced concept change). You should leave the session with the ability to understand how these biases could affect your work.

Description: This article introduces CERA- Chartered Enterprise Risk Analyst including information on the examination requirements.

Description: Hear AM Best rating analysts discuss the rating process and the best capital adequacy ratio (BCAR), a quantitative foundation for AM Best’s assessment of carriers’ financial strength. The benchmarking of BCAR scores for various company types (national MCOs, BCBS plans, smaller regional plans) will be discussed. Look at how changes in investment and underwriting environment impacted the results over the past several years. Further, AM Best’s view of the quality of capital and various factors impacting the overall assessment of the balance sheet strength will be discussed.

Description: Examine how investment portfolios have been changing over recent years with a panel of industry experts from the life insurance industry, and learn what lies ahead. This will be a highly practical session, with real-life case studies referenced as much as possible.

Description: Observe how design thinking can be used to address emerging uncertainty in insurance. (Design thinking is a non-linear, iterative process teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test.) According to Fostering Innovation: A Guide for the Actuarial Profession, there is a need for more innovation in the actuarial profession. “A benefit of working in large, well-established organizations is that these workplaces have many problems to solve, but offer many resources, as well as a network of people for collaboration. However, it is interesting to note that the stability and predictability of cyclic work may also be seen as a negative by workplace employees, especially concerning creativity and innovation.