Wednesday, April 26, 2017
Joel Chansky and Patrick Theriault
Understanding loss projections can be confusing for captive officers, directors and owners who do not have an insurance background. Yet setting loss reserves is a key decision for the officers and the Board. What role does the actuary play and what decisions must the directors make? In this webinar we explain what an actuary does, what to look for in an actuarial report and the key considerations in setting loss reserves. Specific topics covered include:
- Captive officers and directors’ responsibility for setting loss reserves.
- Why use an actuary.
- Actuarial concepts in projecting losses.
- Understanding the actuarial report.
- Managing different objectives – solvency, tax, competition.
- The financial impact of loss reserve decisions.
This webinar is aimed at officers, directors and owners of captive insurance companies but is suitable for anyone wishing to understand the role of actuaries in loss reserving and the importance of loss reserving decisions to captives.
Joel Chansky, Principal and Consulting Actuary, Milliman. Joel provides loss reserving, premium reserving, valuation studies, funding studies for captives and self-insureds, rate filing reviews for regulatory authorities, and expert testimony. He specializes in alternative market issues and has assisted with the formation and/or ongoing actuarial needs of many self-insurers, captive insurers, and risk retention groups.
Patrick Theriault, Managing Director, Strategic Risk Solutions. Patrick oversees Strategic Risk Solutions’ captive management activities in the Mid-Atlantic and Southeast and leads the firm’s middle market initiative. Patrick has over 15 years’ experience forming and managing captive insurance companies, including single parent, small captives, cells, groups and risk retention groups.
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