Larry Gorski will discuss the regulatory projects that straddle the divide between the historical, formulaic approach to reserves and required capital and the modern, modeling-based approach that utilizes actuarial principles and judgment.  The main topics he will address are: the C-3 Phase Statutory RBC and Reserve Requirements, Actuarial Guideline 38 (Universal Life with Guarantees), and the future of statutory valuation.  After nearly 30 years with the Illinois Department of Insurance, Larry is now a consulting actuary with Claire Thinking, Inc., tackling cutting edge issues facing the insurance industry.  Currently, Larry chairs the American Academy of Actuaries Life Capital Adequacy Subcommittee, which is the group responsible for developing the modeling approach to determining regulatory capital requirements for variable annuities with guarantees.

Speaker: Larry M. Gorski, FSA, MAAA
Consulting Actuary, Claire Thinking Inc.

Date:  Tuesday, December 14, 2004 
  3:30 Registration  /  4:00  Speaker  /  5:00  Hors d’oeuvres

Location:  Blue Cross & Blue Shield of IL, Cafeteria Level – Room Columbus C
300 E. Randolph St., Chicago, IL 60601. Hors D’oeuvres are in Columbus B.