Saturday, August 14, 2010

Reinsurance Claims Group on Linked In

Keeping abreast of the claims environment is necessary in order that appropriate judgments are made in the model building process. The Reinsurance Claims Group on Linked In is a forum for the open discussion of issues and sharing of information concerning ceded and assumed reinsurance claims in the U.S. and overseas markets. Topics of discussion may include, but are not limited to the presentation, adjustment, processing, settlement and payment of ceded and assumed reinsurance claims; claims dispute resolution, including litigation, arbitration, mediation and other forms of ADR; commutation; handling claims for a company in run-off; handling claims for an active writer; collections, including collections from companies in run off; comparative claims practices and procedures (e.g., London versus U.S. market); claims issues pertinent to insurance insolvencies; and coordination between the claims department and other departments of the company. Members from both the U.S. and international community are welcome.

Persons who should consider joining this group include in-house claims professionals; in-house and outside counsel; claims consultants and experts; actuaries; reinsurance arbitrators and mediators; brokers with claims responsibilities; and anyone genuinely interested in learning more about the subject. The purpose of the group is information sharing and professional networking, not recruiting, advertising, or self-promotion.

Additional information may be found at the following post on the Loree Reinsurance and Arbitration Law Forum:

Wednesday, August 4, 2010

Update on CAS Dynamic Risk Modeling Committee

The Loss Simulation Model Working Party is nearing completion of its paper that documents its new open source model which will enable actuaries to test alternative reserving methods and models.

The Dynamic Financial Analysis Working Party is developing a 2011 call paper program for the Public-Access DFA Model (DYNAMO)that will seek significant enhancements and applications of this open source model.

The Economic Capital Model Working Party is charged with developing a stochastic, principles-based economic capital model that meets Solvency II objectives and can be used by insurers, rating agencies, and regulators for solvency monitoring. Working party members are currently working on what is expected to become an important report to appropriate American Academy and NAIC committees.

The DRM Handbook Working Party is working on updating and completing what is expected to become an excellent reference source for those new to dynamic risk modeling work.