Event: Measuring and Managing Catastrophe Risk

EVENT:  Measuring and Managing Catastrophe Risk
The 2nd Annual CAA, MAF, and PRMIA Joint Conference on ERM

The Chicago Actuarial Association (CAA), the Midwest Actuarial Forum (MAF), and the Chicago Chapter of the Professional Risk Managers International Association (PRMIA) are pleased to offer “Measuring and Managing Catastrophe Risk” as our second annual half-day conference on Enterprise Risk Management.

DATE:  Thursday June 5, 2008, Noon – 7:00 p.m.*
   *Registration opens 11:45 a.m.
     Lunch is served 12:30 p.m.
     Last session ends, and cocktail reception starts, 5:30 p.m.

“Catastrophic Risk and Risk Capital Structure”
     Christopher Culp, Senior Advisor, Compass Lexecon,
     and Adjunct Professor of Finance, The University of Chicago Graduate School of Business
The talk will review the concept of risk capital and the risk capital structure of insurance (and other) firms. Specifically, we will consider how the management of catastrophic risks and risk capital can change the entire focus of ERM processes and initiatives. We will also consider how risk-based capital regulations can both help and get in the way of a holistic capital-based perspective on risk management.
Click here to download the slides
“Modeling Natural Catastrophes – A Primer”
     Steve E. Smith, President, ReAdvisory Property Solutions (a service of Carvill)
Dr. Smith has been researching weather phenomena for 14 years including the last eight years in the reinsurance/insurance market, and now spearheads ReAdvisory’s catastrophe modelling efforts.
Click here to download the slides
“Modeling and Managing Pandemic Risk”
     Andy Wunsch, Actuary, Enterprise Risk and Return Management, Allstate Insurance Company
Mr. Wunsch has played a major role in Allstate’s ERM initiatives including implementing key risk limits and analysis of multiple-risk interactions and risk/return tradeoffs.
Click here to download the slides
     Ghalid Bagus, Financial Risk Consultant, Milliman 
Mr. Bagus has developed models of both pandemic risk and terrorism risk underlying some of the major mortality cat bonds that have been placed in the market.
Click here to download the slides
“Beyond Convergence to Integration”
     Morton Lane, President, Lane Financial LLC
A past  review and present status of the Insurance Linked Securities (ILS) market. Current trends will be described together with the most recent events affecting future direction. The market stands poised at an important junction that is likely to see its use by issuers and investors alike become both richer and deeper. Importantly, the talk will dwell on some of the resources necessary to participation in this market.
Dr. Lane, a pioneer in the move to securitize insurance with a distinguished career in financial derivatives, now specializes in the intersection of insurance and capital markets.

“Mechanisms for Transferring Catastrophe Risks”
     Paul Forrester, Partner, Mayer Brown LLP
Mr. Forrester is a lawyer and an expert in structured finance transactions, including collateralized debt obligations (CDOs), on which he has published extensively. 
Click here to download the slides

PLACE:  Holiday Inn Chicago Mart Plaza, 14th Floor Conference Center
(Located atop the Apparel Center, just west of the Merchandise Mart – see the flyer below)
350 W Mart Center Dr, Chicago 60654

COST:$50 for CAA members, MAF members, and PRMIA sustaining members,  $75 for all others

Please make your reservation by contacting Pat Pruitt at 312-751-3392 or e mail at PatPruitt60302@yahoo.com
by Monday, June 2.  Provide your name, your company name, your meal choice (chicken or vegetarian or kosher), and your membership status (if applicable).  Discounted fees are available for those who are retired, unemployed, or full-time students.

Menu: Both Chicken and Vegetarian choices include Chicago Mart Plaza salad, roasted vegetables, bread rolls, and Eli’s “turtle” cheesecake for dessert.
Chicken Aegean – boneless breast of chicken (stuffed with spinach, wild mushrooms, Roma tomatoes, feta cheese and fresh basil topped with a lemon b├ęchamel sauce), rice pilaf
Vegetarian Pasta – Mediterranean Pasta with fresh baby spinach, diced Roma tomatoes, Greek olives, capers, feta cheese, red wine, artichoke hearts and fresh basil
Kosher (cRc, The Kosher Gourmet)

We thank the Jacobson Group for their generous support of this conference.

*On the day of the event:
     Registration opens 11:45 a.m.
     Lunch is served 12:30 p.m.
     Last session ends, and cocktail reception starts, 5:30 p.m.

We welcome and encourage non-actuaries to attend our conference because information covered is relevant to a wide range of work within the insurance and financial community.  Please share this with others who may be interested.

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