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2024 VCIA Webinar – The Balancing Act of Captive Management

Thursday, May 16, 2024

2:00 – 3:00 pm EDT

Program Content:

The captive webinar will discuss challenges that insurance companies face due to inflation and its impact on their investment portfolios, operating costs, and claim payouts. The webinar will focus on the process of estimating liabilities for unpaid claims, which is a complex task that becomes even more challenging with changing variables. The panelist will highlight the new auditing standards, which emphasize the importance of the loss reserve estimates and the use of an actuarial specialist. The webinar will provide practical methods for management to evaluate actuarial loss reserves, including considerations for methods and assumptions, data analysis, and supporting management’s selected point estimate. The auditor’s perspective on the reserve estimate will be discussed, emphasizing the need for evidence-based evaluation and understanding of management’s selection process. Overall, the webinar is aimed to provide guidance for insurance companies and management to effectively manage their loss reserves and comply with auditing standards.
The webinar is recommended for individuals and companies who are currently captive owners and are interested in gaining a deeper understanding of how to effectively manage their captives. It is also beneficial for companies that want to take a more proactive approach in managing their captives and for those who are new to the market and want to become knowledgeable and innovative captive insurance owners. By attending this webinar, you will gain valuable insights from both consulting and industry perspectives, which will help you ensure that your captive is sustainable, powerful, and successful as a long-term risk management tool.


Learning Objectives:
After completing this webinar, participants will be able to:

  • Understand the challenges faced by insurance companies due to inflation, volatility in investment portfolios, and higher operating costs and claim payouts.
  • Learn about the process of estimating liabilities for unpaid claims and the impact it has on an insurance company’s financial condition.
  • Gain knowledge about the recent auditing standards and their emphasis on the loss reserve estimate and the use of an actuarial specialist.
  • Familiarize yourself with the common methods used by actuaries to estimate unpaid claim liabilities, such as loss development methods, expected loss methods, Bornhuetter-Ferguson methods, and counts and averages methods.
  • Learn about the data elements provided to actuaries for estimating unpaid claim liabilities, including numerical data (paid losses, premiums, exposures, etc.) and qualitative data (retentions, reinsurance programs, etc.).
  • Develop and understanding of an auditor’s perspective on the reserve estimation and obtaining sufficient audit evidence for testing such estimation methods.

CPE/CLE Credits: 1
Delivery Method: Group Internet Based
ICCIE Credit: 1 ACE CE and 1 ICCIE Teleconference Credit

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