Introduction to PBA:
An Overview of a Principles-Based Approach (PBA)
to Reserves and Capital
Life Practice Council seminar
June 9-10, 2008
Orlando, Fla.
This seminar will present an overview of the proposed principles-based approach (PBA) for statutory reserves and capital, for both life and annuity products. The seminar will give participants an excellent opportunity to get up to speed on PBA and the impact it will have on the future of statutory valuation of reserves and capital. In addition, multiple Q&A sessions will allow you to get the answers you need on the proposed new principles-based framework.
The seminar is designed for those who have limited or no knowledge about PBA, and for anyone who seeks a high-level summary of current PBA hot topics and recent developments.
The seminar is part one of a two-part series covering PBA. (The second, more advanced seminar covering implementation and other PBA issues in further detail, will be offered on September 24, 2008 in Washington DC; further details will be posted as they become available.)
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Registration
Early registration is $650 for Academy members and $750 for non-members. After May 2nd, fees will be $750 for members, $850 for non-members. Registration will close May 31.
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Register online. Sign up now, using convenient online registration.
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Member registration
(The fastest, most efficient way to register: Since you will log in, you won't need to fill in your name and address.)
- Register by mail. Send the completed registration form, along with payment information to the Academy. Mail it to:
June 2008 PBA Seminar
Attention: Joanne Anderson
American Academy of Actuaries
1100 17th Street NW, 7th Floor
Washington, DC 20036.
Government actuaries may register for no charge. If you are a government actuary, print out a registration form and mail it to the Academy.
About the seminar
The seminar is part one of a two-part series covering PBA. The second, more advanced seminar covering implementation and other PBA issues will be offered in the fall of 2008. The Academy has been instrumental in helping the NAIC develop the proposed PBA framework to modernize the current statutory reserves and capital requirements, and significant progress has been made over the past few years in moving us closer to the point when PBA will become a reality.
The June seminar has been designed to provide the participants with useful information about:
- The factors that have sparked the need for PBA
- The basic elements of the PBA framework for both reserves and capital
- Major issues and “hot topics” currently under discussion
- Key challenges and opportunities
- Implementation and practical considerations
Session
The above topics will be discussed in the following sessions (view full session descriptons):
- The Purpose and Goals of PBA
- Key Elements of the PBA Framework
- A Regulatory Perspective on PBA
- PBA for Annuities
- PBA for Life Products
- Reinsurance Issues
- Tax Issues
- Implementation Issues
- Open Q&A Session
(Advance questions from attendees are strongly encouraged. Please e-mail your questions to Natalie Jones, jones@actuary.org)
- Luncheon Speaker: Professional Responsibilities of Actuaries Under PBA
Speakers
The speakers have led various aspects of the PBA effort within the Academy (or the NAIC), and include:
- Mike Boerner, Managing Actuary, Texas Department of Insurance and Chair, LHATF PBR Process and Coordination Subgroup
- Tom Campbell, Vice President, Academy Life Practice Council and Chair, Variable Annuity Reserves Work Group
- Donna Claire, Chair, Life Financial Soundness/Risk Management Committee
- Todd Erkis, Chair, Life PBA Practice Note Work Group
- Jim Lamson, Chair, Annuity Reserv es Work
Group
- Dave Neve, Chair, Life Reserves Work Group
CE credit
The American Academy of Actuaries believes in good faith that "Introduction to PBA:
An Overview of a Principles-Based Approach to Reserves and Capital" constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States.
Under these Qualification Standards, an hour of continuing education is defined as 50 minutes and fractions of an hour may be counted.
Hotel
Hilton Walt Disney World
1751 Hotel Plaza Blvd
Lake Buena Vista, Florida
Telephone: 1-407-827-4000
Fax: 1-407-827-3890
Room rates: $199/night (single/double)
Need to plan a fun family vacation? Take advantage of this great location either before or immediately after the seminar. The discounted room rate of $199/night is available starting June 5 through June 12!
The Hilton is an official hotel of Walt Disney World in Lake Buena Vista, Florida. Hotel guests will enjoy exceptional facilities at AAA's longest-running Four Diamond Resort in Central Florida. This hotel is only steps away from some of Walt Disney World's most popular amenities and attractions. Take advantage of:
- EXTRA MAGIC HOURS! Each day one of the theme parks is open an hour early or stays open up to three extra hours in the evening exclusively for guests of the WDW Hilton.
- Complimentary transportation to the Disney theme parks
- And much more! Visit the Hilton Walt Disney World web site to find out more about all the possibilities!
Additionally, the Hilton also is close to a number of Orlando’s best attractions, beaches, and shopping such as:
- SeaWorld
- Universal Studios and Islands of Adventure
- Kennedy Space Center
- Daytona, Cocoa, and Clearwater Beaches
- Shopping at Orlando Premium Outlets, Mall at Millenia and Prime Outlets International
Questions?
If you have questions about attending the seminar or registering for the seminar, please contact Kasha Shelton (shelton@actuary.org; 202-223-8196). |
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