2013 Seminar on P/C Effective Loss Reserve Opinions ... Seminar 2013... · American Academy of Actuaries 2013 Seminar on P/C Effective Loss Reserve Opinions Sue Gozzo Andrews, FCAS,

American Academy of Actuaries 2013 Seminar on P/C Effective Loss Reserve Opinions

2013 Seminar on P/C Effective Loss Reserve Opinions Speaker Bios

Nov. 13–14, 2013

Hilton Airport St. Louis, Missouri


Charles F. Cook, FCAS, MAAA, FCA, CPCU, MBA Charles (Chap) is the managing director for MBA Actuaries LLC. Chap has more than 40 years of experience and expertise in actuarial and insurance consulting. He has served insurance companies as chief executive officer, chief actuary and chief underwriting officer, and as president of a consultancy. Chap has served in executive and senior management positions with a number of large insurance companies, with responsibilities and direct involvement ranging from domestic

and international operations; reinsurance treaties; jumbo risks; actuarial duties; underwriting; strategic, financial, and statistical planning; product design; mass marketing; and information systems design. Chap has held positions as the director and vice president of the Conference of Consulting Actuaries, a member of the Casualty Practice Council and Professionalism Council of the American Academy of Actuaries, and director and officer of the Casualty Actuarial Society (CAS). He currently serves as a member of the Opinion Seminar Subcommittee.


Janet Duncan, FCAS, MAAA Janet is senior vice president and senior actuarial reserving officer at CNA, responsible for approximately $17 billion of property/casualty reserves in all CNA insurance companies, including standard lines, specialty lines, and discontinued operations. Janet has more than 25 years of property/casualty financial analysis experience, including commercial and personal lines reserving and pricing, financial and capital modeling, and planning and management reporting. Prior to joining CNA, Janet worked with XL Capital, serving in roles of increasing responsibility, including senior vice president and

chief actuary of XL Insurance, chief finance officer of XL Insurance Americas, and executive vice president and chief finance officer of XL Insurance Europe and Asia. She has also worked with PricewaterhouseCoopers LLP and served in various actuarial roles with Aetna Life & Casualty, where she began her insurance career. She has served on several actuarial committees, including the American Academy of Actuaries IFRS Task Force, the CAS Committee on Professionalism Education, and the CAS Committee on Reserves. She currently serves as a member of the Opinion Seminar Subcommittee.


Nicole Elliott, ACAS, MAAA Nicole has been employed with the Texas Department of Insurance in Austin, TX since 1998. She currently coordinates and supervises any actuarial analysis needed for P&C entities within the Financial Regulation Division. She has presented to various actuarial and insurance groups on regulatory and financial reporting matters. Nicole currently serves on the Academy’s Committee on Property Liability Financial Reporting (COPLFR) and various

NAIC committees, including the Casualty Actuarial & Statistical Task Force. She is the current chair of the NAIC’s P&C RBC Working Group.


Thomas L. Ghezzi, FCAS, MAAA Thomas is a director at Towers Watson and has been part of Towers Watson’s Professional Excellence team for financial reporting. In that capacity, Thomas assisted in the oversight of Towers Watson’s work related to Property/Casualty Statements of Actuarial Opinion (SAO) on a worldwide basis. Thomas specializes in property/casualty insurance consulting and helps clients with actuarial analyses of loss and loss adjustment expense reserves, insurance rates and rating plans, and other financial aspects of insurance company

operations. His actuarial experience spans all major lines of business, and he works with property/casualty insurers, including large multi-line carriers, as well as medium and smaller-sized specialty carriers, captives, risk retention groups, and self-insurers. He is a past president of the Casualty Actuaries of New England and a former member of the American Academy of Actuaries Redlining Work Group. Thomas is currently a member of the American Academy of Actuaries Opinion Seminar Subcommittee.


Sue Gozzo Andrews, FCAS, MAAA Sue is the property/casualty actuary for the Connecticut Insurance Department. Sue supports the financial analysis and financial examination units in the Financial Regulation Division in the CT Insurance Department, which is tasked with monitoring the ability of domiciled insurers to protect policyholders. She reviews Statements of Actuarial Opinion, opinion summaries, and actuarial reports and interacts regularly with company and appointed actuaries. She works with field examiners and hired actuarial consultants on the NAIC’s Risk-Focused Examination approach utilizing Risk

Matrices and TeamMate® software. She also assists the Property/Casualty Division on rate filing reviews and serves as an advisor for CT’s newly-formed Captive Division. Sue has been a regulator with Connecticut for 21 months and has gone through two year-end cycles. She has also participated in more than two dozen financial exams. Sue represents Connecticut on the NAIC’s Casualty Actuarial & Statistical Task Force. Sue recently served as an instructor for the NAIC’s course on Risk-Focused Examinations: The Role of an Examining Actuary. Sue is a member of COPLFR.


Jon W. Michelson, FCAS, MAAA Jon is owner of and a consulting actuary with Expert Actuarial Services, LLC. His experience includes more than 30 years in the property/casualty insurance industry. He has spent extensive time working with virtually all P/C lines of business, including but not limited to personal lines, workers compensation, product liability, medical professional liability, and general liability, and he has consulted on numerous diverse assignments. In addition to his consulting experience, Jon worked for

four years in the pricing department of Wausau Insurance Company’s personal lines business center. There, he managed the actuarial unit in its function of performing rate level reviews of the company’s private passenger automobile business in all fifty states. Jon has spoken at numerous industry seminars on such subjects as loss reserving, risk-based capital, breast implant liability, loss reserve discounting for tax purposes, and changes in the NAIC’s Statutory Property/Casualty Annual Statement. He has participated as a member of the CAS’s committees on examinations and on dynamic financial modeling. Jon is a long-time member of the CAS Committee on Reserves and served as Vice Chair or Chair of that committee from 2000 through 2005.


Mary D. Miller, FCAS, MAAA Mary retired in 2011 from her position as the Assistant Director of the Product Regulation and Actuarial Services Division of the Ohio Department of Insurance after a 16-year career. In June 2012, she joined Risk & Regulatory Consulting LLC, where she is a part-time consultant providing services to state insurance departments. Prior to joining the Ohio Department of Insurance, she worked in the private sector for eight years in commercial lines pricing, reserving, and underwriting.

Mary recently began her term as president-elect of the American Academy of Actuaries. She has served as a member and Vice President of the Casualty Practice Council, a member of COPLFR and several of its subcommittees, and a member and chairperson of the Financial Soundness/Risk Management Committee.


Alejandra Nolibos, FCAS, MAAA Since joining Towers Watson in 1998, Alejandra’s consulting experience has included financial modeling, loss reserve studies, pricing, and the evaluation of risk-based capital and economic capital requirements, as well as alternative capital structures. Her particular area of expertise is commercial and specialty insurance, with a focus on multi-national property and casualty portfolios. Alejandra led and served as an advisor on complex engagements involving U.S., Latin American, and European

clients. She has helped a diverse array of clients, including mutual and stock property/casualty insurance carriers, state funds, quasi-governmental organizations and regulators, ratemaking bureaus, trade organizations, and self-insured corporations. Alejandra leads Towers Watson’s Commercial Lines Insurance Pricing Survey, which has been tracking pricing changes and profitability in the U.S. commercial insurance market since the summer of 2005. Alejandra is a member of COPLFR. She served as an officer of Casualty Actuaries of the Southeast, a regional affiliate of the CAS, and as a member of the Latin America Regional Committee of the CAS.


Kathleen Odomirok, FCAS, MAAA Kathleen is an executive director in the Insurance and Actuarial Advisory Services practice of Ernst & Young LLP’s Financial Services Office. Kathy has 24 years of experience with Ernst & Young serving insurance, reinsurance, government, and corporate clients. Her skill set includes estimating unpaid claims for all lines of business, merger and acquisition due diligence, and valuation. Kathy currently serves on COPLFR and is chair of a CAS committee which pertains to qualifications regarding U.S.

regulation and financial reporting issues. Kathy recently co-authored the publication, “Financial Reporting through the Lens of a Property/Casualty Actuary,” which serves as the main textbook for CAS Exam 6US.


Lisa Slotznick, FCAS, MAAA Lisa is a managing director with PricewaterhouseCoopers LLP (PwC). Lisa has more than 30 years of experience in the actuarial field: five years with Pennsylvania National Insurance Group, three and a half years with Pennsylvania Manufacturers Association Insurance Company and more than 25 with PwC. At PwC, she has been the lead consultant on many engagements, including reserving and ratemaking assignments for various types of entities—insurers and self-insurers.

She is the primary consultant for workers compensation, general liability, and professional liability services for large commercial self-insurers, insurers, and reinsurers. Her experience includes specialty areas such as asbestos, black lung, and mass tort issues. Since the advent of Sarbanes-Oxley related requirements, she has led teams of actuaries documenting and reviewing documentation of insurers’ reserving processes and controls. Lisa is PwC’s lead resource on statements of actuarial opinion and actuarial professional standards. In this role, she is a subject matter expert on many financial reporting matters. She is vice chairperson of the COPLFR.


Paul Struzzieri, FCAS, MAAA Paul is a principal and consulting actuary with Milliman, Inc. Paul has more than 30 years of experience in the actuarial field: three years with the Insurance Services Office (ISO), two years with the Home Insurance Company, and more than 25 years with Milliman. He provides actuarial services to a wide array of clients, including insurers, reinsurers, captive insurance companies, risk retention groups, financial services companies, and insurance regulators. Among the consulting services he

provides are unpaid claim analyses, statements of actuarial opinion, feasibility studies for new insurers and captives, funding studies, pricing support for programs and individual accounts, predictive modeling, and expert witness assignments. Paul has particular expertise with specialty general liability lines, including general liability and warranty coverage for residential homebuilders and other contractors, and professional liability coverage for physicians, lawyers, and other professionals Paul was a member of the COPLFR from 2006 to 2012. Since he joined COPLFR, Paul has been Milliman’s lead resource on statements of actuarial opinion and financial reporting matters.


Patricia Teufel, FCAS, MAAA Patricia retired as Principal of KPMG LLP in 2010 after over 20 years of service. She led the KPMG Actuarial Services practice for more than a decade. While at KPMG, her principal services included independent evaluation of loss and loss adjustment expense liabilities (including asbestos, environmental, and other mass tort liabilities); issuance of statements of actuarial opinion, merger and acquisition assistance; litigation support services, including expert witness testimony; conversions to U.S. GAAP and International Accounting Standards; purchase accounting advisory services; and business process improvement advisory services. Prior to beginning work at

KPMG, Patricia spent 18 years with CIGNA and its predecessor organizations in various actuarial, underwriting, and marketing management roles. Patricia recently completed her term as Immediate Past President and Chair of the Board of CAS. She is a Trustee of The Actuarial Foundation and currently serves as a member of the Casualty Practice Council of the Academy. In the past, she served as the chairperson of COPLFR, a director on the boards of the CAS and the Academy, and in many other leadership positions.

Documents

2013 Seminar on P/C Effective Loss Reserve Opinions ... Seminar 2013... · American Academy of Actuaries 2013 Seminar on P/C Effective Loss Reserve Opinions Sue Gozzo Andrews, FCAS,