Week 1: Reserving Fundamentals; Accounting Fundamentals

Session 1.A.1: CAS Statement of Principles Regarding Property and Casualty Loss and Loss Adjustment Expense Reserves

Session 1.A.2: ASP Number 9: Documentation and Disclosure

Session 1.A.3: Wiser, pages 143-179 (until Loss Reserving Estimation)

Session 1.A.4: Wiser, pages 180-232 (from Loss Reserving Estimation)

Session 1.B.1: Marshall, et al, Accounting and Finance for Insurance Professionals, chapter 5, An Introduction to Insurer Financial Statements

Session 1.B.2: Marshall, et al, chapter 11, How to Interpret Insurer Financial Statements, pages 327-331; 350-358; 364-367

Session 1.B.3: Troxel and Bouchie, Property-Liability Insurance Accounting and Finance, chapter 2, Valuation of Insurance Company Assets, and chapter 3, Liabilities and Policyholders' Surplus, pages 126-131

Session 1.B.4: IASA textbook, chapter 4, Earned and Unearned Premiums

Week 2: Expected Loss Reserving; Premium and Loss Transactions

Session 2.A.1: Bornhuetter and Ferguson, The Actuary and IBNR

Session 2.A.2: Fisher and Lester, Loss Reserve Testing in a Changing Environment

Session 2.A.3: Brosius, Loss Development Using Credibility, pages 1-12

Session 2.A.4: Brosius, Loss Development Using Credibility, pages 13-19

Session 2.B.1: IASA chapter 6, Written Premiums

Session 2.B.2: IASA, chapter 7, Losses and Loss Adjustment Expenses

Session 2.B.3: Balcarek, Effect of Loss Reserve Margins in Calendar Year Results

Session 2.B.4: D'Arcy, Special Issues – Data Sources

Week 3: Berquist-Sherman; Contingencies

Session 3.A.1: Berquist-Sherman, Loss Reserve Adequacy Testing: A Comprehensive, Systematic Approach, Introduction, sections 1 and 2, appendices A, B, and C: Reserving Recommendations

Session 3.A.2: Berquist-Sherman section 3, exhibits A-G: Adjustment 1 – Changing Case Reserve Adequacy

Session 3.A.3: Berquist-Sherman section 3, exhibits H-N: Adjustment 2 – Changing Claim Settlement Rates

Session 3.A.4: Berquist-Sherman sections 4, 5 & exhibits O-V: Selecting an Indication

Session 3.A.5: Berquist-Sherman: Discussion by Thorne

Session 3.B.1: SFAS 5: Accounting for Contingencies

Week 4: Other Loss Reserving Techniques; Reinsurance Fundamentals

Session 4.A.1: Adler and Kline, Evaluating Bodily Injury Liabilities Using a Claims Closure Model

Session 4.A.2: Fisher and Lange, Loss Reserve Testing: A Report Year Approach

Session 4.A.3: Siewert, A Model for Reserving Workers Compensation High Deductibles

Session 4.B.1: Elliot, et al., Principles of Reinsurance, Vol 1, chapter 1

Session 4.B.2: Elliot, et al., Principles of Reinsurance, Vol 1, chapter 2 (pp 47-60), chapter 3 (pp. 78-82)

Session 4.B.3: Elliot, et al., Principles of Reinsurance, Vol 1, chapter 6

Week 5: Expense Reserving; Reinsurance Property Pricing

Session 5.A.1: Resony, Allocated Loss Expense Reserves

Session 5.A.2: Kittel, Unallocated Loss Adjustment Expenses in an Inflationary Economic Environment

Session 5.A.3: Johnson, Determination of Outstanding Liabilities for Unallocated Loss Adjustment Expenses

Session 5.B.1: Elliot, et al., Principles of Reinsurance, Vol 2, pages 107-113

Session 5.B.2: Cass, et al., Reinsurance Practices, Vol 1, chapter 5

Session 5.B.3: Cass, et al., Reinsurance Practices, Vol 2, chapter 9, Property Per-Risk Excess-of-Loss Treaties

Week 6: Excess of Loss Reserving and Pricing

Session 6.A.1: Pinto and Gogol, An Analysis of Excess Loss Reserve Development, pages 237-240

Session 6.A.2: Pinto and Gogol, An Analysis of Excess Loss Reserve Development, pages 241-255

Session 6.A.3: Pinto and Gogol, An Analysis of Excess Loss Reserve Development, discussion by Levine

Session 6.A.4: Pinto and Gogol, An Analysis of Excess Loss Reserve Development, discussion by Bear

Session 6.A.5: Bouska and McIntyre, Measurement of U.S. Pollution Liabilities

Session 6.B.1: Cass, et al., Reinsurance Practices, Vol 2, chapter 10, Casualty Excess-of-Loss Treaties

Session 6.B.2: Cass, et al., Reinsurance Practices Vol 2, chapter 11, Catastrophe Treaties

Week 7: Retro Reserves; Insurance Accounting

Session 7.A.1: Linquanti, Calculation of Unearned Premium Reserves

Session 7.A.2: Berry, A Method for Setting Retro Reserves

Session 7.B.1: SFAS 60, Accounting and Reporting by Insurance Enterprises

Session 7.B.2: IASA chapter 11: Reinsurance Accounting

Session 7.B.3: Ludwig, An Exposure Rating Approach to Pricing Property Excess-of-Loss Reinsurance

Week 8: Retro Reserves (advanced); Reinsurance Pricing (advanced)

Session 8.A.1: Teng and Perkins, Estimating the Premium Asset on Retrospectively Rated Policies

Session 8.B.1: Clarke, Basics of Reinsurance Pricing, Proportional Treaties pages 1-13, and Property Excess-of-Loss Treaties, pages 14-21

Session 8.B.2: Clarke, Basics of Reinsurance Pricing, Casualty Per-Occurrence Excess Treaties, pages 22-33

Session 8.B.3: Clarke, Basics of Reinsurance Pricing, Aggregate Distribution Models through end, pages 34-54

Week 9: Reserving Models; Reinsurance Accounting Statements

Session 9.A.1: McClenahan, A Mathematical Model for Loss Reserve Analysis

Session 9.A.2: Khury, Loss Reserve: Performance Standards

Session 9.B.1: SFAS 113, Reinsurance of Short-Duration and Long-Duration Contracts

Session 9.B.2: NAIC, Practices and Procedures Manual, chapter 22

Week 10: Reserve Bias; Claim Commutations

Session 10.A.1: Stanard, A Simulation Test of Prediction Errors of Loss Reserve Estimation Techniques, pages 124-131

Session 10.A.2: Stanard, A Simulation Test of Prediction Errors of Loss Reserve Estimation Techniques, pages 132-153

Session 10.A.3: Stanard, A Simulation Test of Prediction Errors of Loss Reserve Estimation Techniques, discussion by Peck

Session 10.A.4: Warthen and Sommer, Dynamic Financial Modeling – Issues and Approaches

Session 10.B.1: Patrick, Reinsurance Reserving, in Foundations of Casualty Actuarial Science, chapter 6, pages 344-374

Session 10.B.2: Steeneck, Commutation of Claims