Professional Development

Actuarial Evidence Seminar

Québec: Hôtel Château Laurier Québec

September 11-12, 2015

Program (PDF version)

Thursday, September 10, 2015

16:30 – 18:30  Meeting of the Committee on Actuarial Evidence
Observers are welcome.

Friday, September 11, 2015

7:30 – 16:00  Registration and CIA Information Desk

7:45 – 8:30    Buffet Breakfast

8:30 – 8:45    Opening Remarks and Seminar Overview
Daniel Gagné and Louis Martin, seminar organizers

8:45 – 9:30    Session 1 • Operation of the Auto Insurance System in Canada’s Provinces
Daniel Gardner*, law professor, Université Laval
Marie-Hélène Malenfant (FCIA), director of actuarial liability valuation, Société de l'assurance automobile du Québec 

This session will present an overview of the auto insurance systems across Canada, including their history, and a comparison of their operations, coverages, rates, and financial issues. It will examine the origins and unique features of the pioneering no-fault system in Québec. It will also explore subrogation in the no-fault system, an area of direct involvement for AE practitioners.

9:30 – 10:15   Session 2 •  What’s Up with No-Fault?
Daniel Gardner*, law professor, Université Laval

An accomplished author on civil liability, auto insurance, and bodily injury, Prof. Gardner will cover issues pertaining mainly to no-fault systems, both in Canada and elsewhere. He may also share revelations from his year of study in New Zealand and France.

 10:15-10:30    Networking Break

10:30 – 12:30  Session 3 • Reform of Ontario’s Auto Insurance System
Maia Bent*, president, Ontario Trial Lawyers Association
Willie Handler*, consultant, Willie Handler and Associates
Ryan Stein*, director, policy development, Insurance Bureau of Canada

This session will discuss the current state of Ontario automobile insurance and the respective roles of no-fault and tort compensation in light of improvements to the system—from the reform legislation of 2014 back to the introduction of the hybrid no-fault/tort coverage in 1990. The perspectives of the consumer, the insurance industry, and injured parties will be represented.

12:30 – 14:00   Luncheon with Speaker – CIA Overview and Update
Michel Simard, CIA Executive Director

14:00 – 15:00   Session 4 • The Assessment of Employability in a Litigation Context
François Laflamme*, co-founder, Optima

This session will define the concept of employability before considering different ways of assessing it, including psychometric tests, career exploration software, and studies. It will also focus on transferrable skills analyses—their methodology, qualifications, and information required; how to interpret their results; and potential pitfalls.

15:00 – 14545 – Session 5 • Claims Operations Transformation – The Role of AE and the
                                                Impact on It

Claire Michaud Louis*, insurance operations transformation strategist, Strategic Insurance and Risk Solutions

Insurance companies are re-engineering their claims operating models to increase claim process efficiency, achieve cost savings, and optimize the customer experience. This session will explore the contributions AE practitioners can make to this effort, and what it may mean for AE practice.

15:45 – 16:00  Networking Break

16:00 – 16:30  Session 6 •  Reserves for Bodily Injury and Property Damage
Craig Allen (FCIA), senior consultant, Commonwealth Research Group

The case reserve, the claims adjuster’s ongoing estimate of the cost to settle a case, is one of the key metrics monitored by property/casualty insurance companies, and the link between the AE practitioner and the casualty actuary. This session will provide an overview of how the AE report becomes a case reserve, and how casualty actuaries use such reserves in evaluating insurance company policy liabilities and pricing the insurance product.

Saturday, September 12, 2015

7:30 – 11:00   Registration and CIA Information Desk

7:45 – 8:30    Buffet Breakfast

8:30 – 9:00    Session 7 • Update from the Committee on Actuarial Evidence
Speakers :
Craig Allen (FCIA), senior consultant, Commonwealth Research Group
Mike Kavanagh (FCIA), principal, Townsend & Kavanagh, Actuarial Consultants

Members of the Committee on Actuarial Evidence (AEC) will provide an update on its recent activities and a summary of its plans and priorities for the coming year. This is your opportunity to ask questions and give comments to the AEC.

9:00 – 9:30  Session 8 • Review of Standards of Practice Section 3500 – Pension CV Standards
Gavin Benjamin (FCIA), senior consulting actuary, Towers Watson
Jamie Jocsak (FCIA), owner, BCH Actuarial Services

The Actuarial Standards Board (ASB) has established a designated group to review the pension commuted value standard of practice and recommend changes to the ASB. (Note that the group’s mandate does not include the commuted value mortality assumption, as this assumption is being addressed by a different designated group.) During this session, Messrs. Benjamin and Jocsak, both members of the designated group, will discuss aspects of the commuted value standards that are being reviewed and their initial views on which changes to the standards may be appropriate. The group is seeking feedback from the actuaries and their stakeholders.

9:30 – 10:15  Session 9 • Marriage Breakdown
Amelia Burns*, actuarial analyst, GML
Guy Martel (FCIA), co-founder, GML Actuarial Services

The session will feature a look at the 2014 Canadian pensioners mortality table to discover how it compares with the UP94 table. It will also include an examination of the case law on double recovery.

10:15 – 10:30   Networking Break

10:30 – 11:00   Session 10 • Fatalities (continued from last year’s seminar)
Luc Rivest (FCIA), director, iDML

Even the most experienced actuary may shudder at the inherent complexities of a wrongful death file: self-employment, pension loss, dependency rates, collateral benefits, and more.

11:00 – 11:45   Session 11 – The Impact of Disability on Earnings – Developing an AE Tool?
Maryse Larouche (FCIA), co-founder, GML Actuarial Services
Peter Martin (FCIA), founder, Golden Actuarial

Despite the limited literature on the impact of disability on market labour income, there is a general agreement concerning the negative effects of disability on outcome. Disability decreases the probability of labour participation and the number of hours worked, and consequently annual employment earnings. However, there is less agreement on the magnitudes of the negative effects of disability. The speakers will discuss the tools readily available and those actuarial evidence practitioners could develop. These include Statistics Canada’s Participation and Activity Limitation Survey, among others.

11:45 – 12:00    Concluding Remarks
Daniel Gagné and Louis Martin, seminar organizers