Leon Langlitz, FSA, moderated Session 83 Buzz Group: Current Topics of Interest to Smaller Insurance Companies at the SOA 2010 Annual Meeting & Exhibit on October 19, 2010. A number of topics were offered for discussion with the four which received the most interest to the attendees discussed in small, round table conversations. This is a summary of those discussions and the subsequent reporting of each of those discussions to all of the attendees.
We are pleased to announce that David A. Palmer, Certified Financial Examiner, has joined L&E to establish our examination unit. In conjunction with this new practice area, L&E is opening a new office in Baltimore, Maryland. Previously, David served as Chief Examiner for the Maryland Insurance Administration (MIA), and also served in the past as Chief Financial Manager for the District of Columbia Department of Insurance, Securities and Banking.
David has over twenty years of experience in various jurisdictions in managing both financial examinations and the financial analysis function for both Property & Casualty and Life & Health companies. David has been active for many years in the Society of Financial Examiners and is currently serving as the Vice President of State Chapters on the Executive Committee. He has also been active in the proceedings of the National Association of Insurance Commissioners and actively participated in numerous working groups and task forces.
Leon Langlitz, FSA, gave a presentation on "What Happened? Actuaries and Their Love Affair with Risk" to the 2010 Kansas Insurance Institute on September 2, 2010. This presentation deals with Life Reserves/Risk-Focused Approach.
In a proactive move, Scott Gibson, FSA, MAAA, and Jackie Lee, FSA, MAAA, of our Dallas office, created a tool to help you better understand and make optimal use of the recently released Life Insurance Settlement Association's (LISA) common life expectancy (LE) tables with the creation of the "LE Mortality Calculator"; whereby they have graciously donated this tool to LISA.
Don't miss your opportunity to get this excellent industry tool! LISA is making this calculator available to members and non-members alike. The Calculator is free for members and $500 for non-members. To receive your copy of the calculator, simply send your request to firstname.lastname@example.org.
This easy to use calculator has a number of benefits, including:
Further details are included in insurancenewsnet.com's LISA Releases Life Expectancy (LE) Calculator article.
Steve Bryson, FSA, gave a presentation on TMRS Funding: A Long-term Perspective to the Texas Municipal League on March 26, 2010. This presentation deals with setting funding policy for public retirement systems.
Bonnie Albritton, FSA, addressed the Actuaries Club of the Southwest (ACSW) in San Antonio. Small employers face a difficult challenge in finding insurance for their employees. In Texas there are several options available to small employers to obtain health insurance for their employees. The options include the state-regulated small group market, Private Purchasing Co-ops, Health Group Cooperatives, Small Employer Health Coalitions, and MEWAs, each with its advantages and disadvantages. Although this presentation focuses on the options available in Texas, many of these options are available in other states and the basic concepts are applicable in many situations. This presentation looks at each of the options from a "Financial Decision-Making Theory" perspective.
Bob Thomas, FSA, gave a presentation on Equity Indexed Annuities at the Ohio Department of Insurance Training Conference in Columbus, Ohio.
Gary Rose, FSA, gave a presentation on the U.S. Statutory Update at the 2005 SOA Annual Meeting (Session 57) in New York City.
Scott Gibson, FSA, addressed the Louisiana Insurers Conference (LIC) in San Diego about "Life Insurance Valuation Issues". The imminent reduction in the life valuation interest rates and the growing regulatory acceptance of the 2001 CSO Table will affect products and plan design for all life products and riders including term, traditional life, universal life, long-term care, and disability income insurance.
Roger Annin, FSA, gave a presentation on Annuity Products in Session 73TS, Focus on Smaller Company Products, at the 2004 Society of Actuaries annual meeting. In his presentation, Roger stated that with its growth potential, the Annuity Market should not be overlooked by smaller insurance companies. Annuities represent an important product to many insureds and can be easy products to introduce to agents.