Company Specific Risk Factor Disclosures

This session will explore the company-specific risk factor disclosures in the Statement of Actuarial Opinion (SAO) with a focus on current practice and how the profession is documenting uncertainty caused by the COVID pandemic. The information in these disclosures is used by several stakeholders including company management, members of the board, auditors and regulators as they assess a company’s reserve position. The panel will discuss current background and practices regarding company-specific risk factors as documented in the SAO with several slides comparing this information over time. An Insurance Company auditor will be providing insight into how CPA’s view these disclosures and how they interpret and view materiality of significant exposures

  • Date:Tuesday, September 14
  • Time:10:00 AM - 11:15 AM EDT
  • Session Type:Concurrent Session
  • Session Code:FR-3
  • Learning Objective 1:Provide greater insight on the types of Disclosures were in 2020 Actuarial Opinions.
  • Learning Objective 2:Discuss the range of RMAD disclosures included in the 2020 actuarial opinions.
  • Learning Objective 3:Provide insight on how others in the industry use and perceive the actuarial opinion disclosures.
  • Level of Knowledge:Level 1: No prior knowledge of the subject
  • Moderator:Alan Hines

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Speakers
Greg Fears, FCAS
Pinnacle Actuarial Resources, Inc.
Erich Brandt, FCAS
Pinnacle Actuarial Resources, Inc.
Carolyn Rice
Johnson Lambert & Company
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