50th Anniversary Annual Meeting - Full Agenda

The 2015 Annual Meeting and Public Policy Forum marked 50 years of the Academy’s service to the public and the U.S. actuarial profession. In addition to the Academy Presidential Transition and Academy award presentations, there was special recognition of past presidents, new board members, and charter members, as well as keynotes and plenaries on professionalism, climate change, health care reform, the 2016 elections, and financial regulation.

Read about the Continuing Education credits available at the meeting here.

Full Agenda – Thursday, November 12, 2015

7:30 – 8:30 (1 hr)	Registration & Breakfast
8:30 – 9:00 (30 min)	Opening Session Mary D. Miller, President Ceremonial Recognition of Past Presidents and Charter Members Myers Award Presentation
9:00 – 10:00 (1 hr)	Plenary/Panel Discussion The Shape of the Story—How Top Journalists Cover Actuarial Beats What do Social Security, Medicare/Medicaid, public pension plans, the Affordable Care Act, flood insurance, annuities, and systemically important financial institutions all have in common? Because they affect the lives of millions of Americans, these and other financial security systems and products are studied, discussed, and debated not just in actuarial circles but well beyond in the often turbulent arena of public opinion. Learn how journalists from different major media outlets that cover these “actuarial beats” study and frame the issues for their audiences, and what they foresee as the hot-button issues going into the presidential election year. This moderated panel discussion will offer a unique opportunity to hear from top journalists in their fields about their perspectives on some of the highest-profile issues affecting actuarial practice. Panelists: Christopher Flavelle, editorial writer, Bloomberg View; Frank Klimko, associate editor, BestWeek; Joanne Kenen, health editor, Politico Moderator: Tom Wildsmith, Academy president-elect
10:00 – 10:15 (15 min)	Break
10:15 – 11:30 (1 hr 15 min)	Breakout Sessions Casualty Cybersecurity Experts will discuss how cybersecurity relates to the Terrorism Risk Insurance Act (TRIA), what insurers are doing to protect their clients against potential cyberattacks, what products are being designed to protect against insured losses from such attacks, and how the reinsurance market is responding to this growing threat. Panelists: Christopher Schepis, subcommittee director, Subcommittee on Cybersecurity, Infrastructure Protection and Security, House Committee on Homeland Security; Mark Smith, assistant vice president national affairs, government relations department, Insurance Services Office, Inc.; Tom Finan, senior cybersecurity strategist and counsel, Office of Strategy and Policy, National Protection and Programs Directorate, Department of Homeland Security Moderator: Rade Musulin, chief executive officer, FB Alliance Insurance Health Health Care Innovation Panelists from the Center for Medicare & Medicaid Innovation (CMMI) and the Patient Centered Outcomes Research Institute will provide an overview of their respective organizations and highlight some of the projects they are undertaking with respect to payment and delivery system reform as well as comparative effectiveness research. Panelists: Greg Martin, deputy director of stakeholder engagement, Patient Centered Outcomes Research Institute; Dr. Mai Pham, acting chief innovation officer, Center for Medicare & Medicaid Innovation, Center for Medicare and Medicaid Services Moderator: Audrey Halvorson, chairperson, Academy Health Care Delivery Committee Life The Path of PBR Adoption and Implementation—The When and How of Day 1 Find out what to expect when principle-based reserving and the Valuation Manual go live, including what will be done to ensure that the reporting and regulatory review mechanisms are ready—and hear from an actuary in a state that adopted the new standard valuation law ahead of schedule. Panelists: Mike Boerner, director, actuarial office, Texas Department of Insurance, chair, NAIC Life Actuarial (A) Task Force; Larry Bruning, life actuary, NAIC; Mike Yanacheak, actuarial administrator, Iowa Insurance Division Moderator: Randall Stevenson, chair, PBR Review Procedures Working Group Pension Implications of the Multiemployer Pension Reform Act This panel will reflect on what has happened in the multiemployer field since passage of the MPRA nearly one year ago, how the Pension Benefit Guaranty Corp. and Treasury Department have approached the new policy prescriptions, and what new reforms Congress may be considering. Panelists: Christopher M. Bone, director, policy, research and analysis dept., Pension Benefit Guaranty Corp.; Michael Kreps, principal, Groom Law Group; Pamela H. Nissen, attorney, Leonard, O’Brien, Spencer, Gale & Sayre Business Skills Join this highly interactive breakout session to hone your business skills through training with Second City Works, the business-to-business arm of renowned improv group The Second City. This limited-attendance session will provide you with training that will help you to work well in teams, be nimble and adaptive, deal with failure, and be comfortable working in an interactive way.
11:30 – 1:30 (2 hr)	Lunch Academy Presidential Transition & Annual Meeting Presentation of Outstanding Volunteerism Awards Keynote Address: How State Regulators Address Cybersecurity Adam W. Hamm, Insurance Commissioner, North Dakota Insurance Department
1:30 – 1:45 (15 min)	Break
1:45 – 3:00 (1 hr 15 min)	Breakout Sessions Casualty Price Optimization Hear from regulators in some of the states that have acted to limit price optimization activities by insurance companies, regulators working with the NAIC on this issue, and P/C insurance experts on what “price optimization” can refer to, how it benefits (or disrupts) the P/C insurance market, and what, if any, actions need to be taken by insurers to protect the means by which they price insurance. Panelists: Jillian Froment, deputy director, Ohio Department of Insurance; Sandra Starnes, director, Florida Office of Insurance Regulation; Lynn Dickerson, associate commissioner, Maryland Insurance Administration Moderator: Shawna Ackerman, vice president, Casualty Practice Council Health Update on ACA Implementation Get the latest updates on regulatory changes related to rate filings, the AV and MV calculators, and the risk-sharing mechanisms under the Affordable Care Act. Panelists: Alfred A. Bingham, Jr, director, Office of Special Initiatives and Pricing, Center for Consumer Information and Insurance Oversight (CCIIO), Centers for Medicare and Medicaid Services (CMS); Kimberly Cones, acting oversight group deputy director, CCIIO, CMS; Jeff Wu, associate deputy director for policy, CCIIO, CMS; Allison Yadsko, health insurance specialist, issuer and plan policy branch, CCIIO, CMS Moderator: Catherine Murphy-Barron, vice president, Academy Health Practice Council Life Professionalism Issues Related to PBR Learn about how principle-based reserving intersects with professionalism with panelists from the Council on Professionalism on the applicability of Qualification Standards and new ASOPs to PBR. An auditor from an accounting firm will discuss how similar professionalism issues are dealt with under generally accepted accounting principles. Hear also from state regulators, including individuals from the casualty practice area, with insights into this topic. Panelists: Kevin Dyke, chief actuary, Michigan Department of Insurance and Financial Services; Jeffrey S. Schlinsog, chairperson, Academy Financial Regulatory Task Force, Risk Management and Financial Reporting Council; Philip Barlow, associate commissioner, District of Columbia, Department of Insurance Moderator: Tricia Matson, chairperson, Academy ERM/ORSA Committee, Risk Management and Financial Reporting Council Pension Meeting the Lifetime Income Challenge with Employer-sponsored Plans Employer-sponsored defined benefit plans can provide individuals with a source for lifetime income, but these plans have created challenges for the employers who sponsor them. As a result, many employers have shifted from defined benefit plans to defined contribution plans. Meanwhile, those who retained their defined benefit plans are seeking risk transfers through lump-sum windows and annuity purchases. Speakers will address recent and potential changes in policy, law, or regulations that might help defined benefit plans continue to be a source of lifetime income for their participants, or that might increase the lifetime income opportunities provided through defined contribution plans. Panelists: Mark Iwry, senior adviser to the secretary of the treasury and deputy assistant secretary (tax policy) for retirement and health policy, U.S. Treasury Department; Judy Mares, deputy assistant secretary, Employee Benefits Security Administration; Kevin T. Hanney, director, pension investments, United Technologies Corporation Moderator: Tonya B. Manning, chief actuary, Buck Consultants LLC Senior Advisor to the Secretary of the Treasury and Deputy Assistant Secretary (Tax Policy) for Retirement and Health Policy U.S. Treasury Department – See more at: http://www.pensionrights.org/what-we-do/events/re-imagining-pensions/mark-iwry#sthash.oc7DOQhu.dpuf Senior Advisor to the Secretary of the Treasury and Deputy Assistant Secretary (Tax Policy) for Retirement and Health Policy U.S. Treasury Department – See more at: http://www.pensionrights.org/what-we-do/events/re-imagining-pensions/mark-iwry#sthash.oc7DOQhu.dpuf Business Skills Join this highly interactive breakout session to hone your business skills through training with Second City Works, the business-to-business arm of renowned improv group, The Second City. This limited-attendance session will provide you with training that will help you to work well in teams, be nimble and adaptive, deal with failure, and be comfortable working in an interactive way.
3:00 – 3:15 (15 min)	Break
3:15 – 5:15 (2 hr)	Plenary Protecting the Solvency of U.S. Insurers Keynote Address: Richard Berner, director, Office of Financial Research, U.S. Department of the Treasury Panel 1: The Future of Risk Management Tools Panelists will explore the future of risk management tools for U.S. insurers. The panel will specifically discuss the results, trends, and lessons learned from the first year of the own-risk and solvency assessment (ORSA) reports for U.S. life, health, and casualty insurers; expected changes to the life, health, and casualty risk-based capital formulas and capital adequacy requirements; recommendations from the International Monetary Fund to strengthen the financial stability of the U.S. insurance and pensions systems for the future; and pension risk management tools. Panelists: Eli Russo, advisor on enterprise risk management, NAIC; Todd Sells, director, financial regulatory policy and data, NAIC Moderator: Tricia Matson, chairperson, Academy ERM/ORSA Committee, Risk Management and Financial Reporting Council Panel 2: Capital Standards Overview Panelists will discuss efforts to develop domestic and international capital standards that could impact U.S. insurers. The panel will specifically explore NAIC’s efforts to develop a U.S. group capital standard, federal capital standards for non-bank systemically important financial institutions, the International Association of Insurance Supervisor’s international capital standards setting activities. Panelists: Ned Tyrell, international technical policy advisor, NAIC; Matti Peltonen, supervisory insurance valuation analyst, insurance policy section, division of supervision & regulation, Board of Governors of the Federal Reserve System Moderator: Jeffrey S. Schlinsog, chairperson, Academy Financial Regulatory Task Force, Risk Management and Financial Reporting Council
6:30 – 7:30 (1 hr)	Networking Reception National Museum of Women in the Arts
7:30 – 10:00 (2 hr 30 min)	Gala Dinner and 50th Anniversary Celebration National Museum of Women in the Arts Entertainment will be provided by the Washington-based political satire troupe the Capitol Steps.

Full Agenda – Friday, November 13, 2015

6:45 – 7:45 (1 hr)	Breakfast
7:45 – 10:00 (2 hr 15 min)	Professionalism Plenary Ethics Alarms: The Unpredictable Actuarial Ethics Game Show Using the format of a panel game show, several sophisticated actuaries will answer and discuss challenging professional ethics questions, hypotheticals, and dilemmas posed by a host who will award and subtract arbitrary points (in the manner of NPR’s “Wait, Wait, Don’t Tell Me”). Ethics challenges, based on realistic facts, news events, and hypotheticals will be presented to panelists and in some cases the audience, who also will periodically vote on multiple-choice questions. Designed for the Academy by ProEthics. Panelists: Kenneth A. Kent, chairperson, Council on Professionalism; Catherine Murphy-Barron, vice president, Academy Health Practice Council; Joeff Williams, consulting actuary, Actuarial Management Resources, Inc. Moderator: Jack Marshall, president, ProEthics Read here about Core Ethics CPE Credits for this session
10:00 – 10:15 (15 min)	Break
10:15 – 11:30 (1 hr 15 min)	Health Long-term Care While there is general consensus on the desire to address long-term care needs, finding solutions will require more in-depth analysis of the various options. Panelists will discuss the current status of long-term care policy discussions as well as financing and delivery options that could help reform the LTC system. Panelists: Brian Collins, senior policy analyst, Bipartisan Policy Center; Howard Gleckman, senior fellow, Urban Institute Moderator: Al Schmitz, chairperson, Academy LTC/DI Committee Life Captives Past and Future for Life and Variable Annuity Business This session will discuss the handling of life-captive solutions. For XXX/AXXX, we will examine AG48’s emerging effects on captive structures; for variable annuities, the focus will be the VA framework recommendations now in discussion at NAIC; bridging these areas, we will hear how the NAIC and states will manage ongoing work related to captives use and regulation. Panelists: Steven Schreiber, principal, consulting actuary, Milliman; Todd Sells, director, financial regulatory policy and data, NAIC; Kai Talarek, partner, Oliver Wyman Moderator: Rich Daillak, chair, Life Reinsurance Working Group Pension Public Plan Funding and Risk Disclosures The Academy supports meaningful disclosures for public pension plans. But what are the appropriate disclosures related to the funding and risks of public pensions that will better inform decision-makers and allow stakeholders to better evaluate issues related to the plans? Panelists will discuss these disclosures and also review the different levels of detail that may be appropriate for different audiences. Panelists: Michael Rubenstein, state retirement & pension system budget analyst, Maryland Department of Legislative Services; Doug Offerman, senior director, Fitch Ratings; Melissa Moye, senior policy advisor, Department of Treasury Office of State and Local Finance Casualty The Changing Personal Auto Market What will the personal auto insurance market look like in 10, 20, or 30 years? With the advent of self-driving cars, ridesharing, carsharing, and telematics, the personal auto insurance market is changing. Some of these changes could cause a shift in premium dollars as the volume of personal policies diminishes and/or is replaced by commercial policies. What problems do these changes create—and what opportunities? What public policy concerns do they raise? How will personal auto insurers adapt to remain solvent in the new auto insurance market, and how will this affect consumers? Panelists: Allen Greenberg, Federal Highway Administration, U.S. Department of Transportation; Joy Hatchette, associate commissioner, Maryland Insurance Administration; Karlyn Stanley, adjunct senior researcher, RAND Corporation Moderator: Jim MacGinnitie, Academy senior casualty fellow
11:30 – 1:30 (2 hr)	Lunch and Plenary Plenary: Climate Change Panelists will discuss risks posed by climate change, including the evolution of extreme event risk exposure and the changing scope and severity of the economic threat posed by climate risk. Panelists: Mike Kreidler, insurance commissioner, Washington State; Samantha Medlock, deputy associate director for climate preparedness, White House Council on Environmental Quality Moderator: Shawna Ackerman, vice president, Casualty Practice Council Farley Award Presentation Premiere of Academy’s 50^th Anniversary Movie Keynote Address: The Sustainability of Government Programs, Gene Dodaro, Comptroller General of the United States

Read about the Continuing Education credits available at the meeting here.

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