CASUALTY ACTUARIES OF THE NORTHWEST MINUTES OF THE SPRING

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					CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                                                                      Page 1 of 6

BUSINESS MEETING

Call to Order and Opening Announcements

The meeting was called to order by the president, William Wilder, at 1:06 pm.

The president began by thanking the officers, committee chairs, and committee members for
their efforts. Mr. Wilder discussed the length of tenure of several of the prior committee chairs,
commended them for their service and encouraged others to volunteer. He introduced the
officers of the CANW. He directed the attendees’ attention to the anti-trust summary in the
information packet and emphasized the importance of complying with federal laws.

Attendee Introductions

Mr. Wilder introduced visitors in the room: Jack Seaquist, Patricia Grossi, Regina Berens,
Yvonne Chueh, and guests from Central Washington University.

Approval of Minutes from Last Meeting

A member noted that Josh Ligosky’s information was incorrect in the Spring 2005 minutes. A
motion to approve the amended minutes was made by Gaétan Veilleux, seconded by Norm
Donelson and approved without dissent.

Recognition of New Fellows and Associates

The president opened the floor for recognition of new Fellow and Associates of the CAS. He
then recognized the fact they were now full members in the CANW. A summary follows:

New Fellows of the Casualty Actuarial Society:

       Member                                 Company
       Michele Brooks                         Safeco Insurance
       Chris Najim                            Safeco Insurance

New Associates of the Casualty Actuarial Society:

       Member                                Company
       Sonal Bhargava                        Safeco Insurance
       Jim Harmon                            Safeco Insurance
       Jeremy Lehmann                        Safeco Insurance
       Joe Pietraszewski                     Safeco Insurance
       Rachel Tritz                          Safeco Insurance
CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                                                                 Page 2 of 6


Induction of New Members

The president opened the floor to nominations for new members. A summary follows:

Nominees for Associate Membership in CANW:

       Nominee                     Company                        Nominated by

       Nate Baseman               Safeco Insurance                Stuart Rowe
       Eric Carpenter             Safeco Insurance                Stuart Rowe
       Stephanie Chung            Safeco Insurance                Stuart Rowe
       Myriam Demers              ICBC                            Camille Minogue
       Jesse Groman               Safeco Insurance                Stuart Rowe
       Brett Heineman             Safeco Insurance                Kristi Carpine-Taber
       Andy Howard                PricewaterhouseCoopers LLC      Steve Higgins
       Brian Ironside             Safeco Insurance                Stuart Rowe
       Christine Jimenez          Safeco Insurance                Ain Milner
       Regina Kintana             Safeco Insurance                Stuart Rowe
       Tony Lam                   ICBC                            Camille Minogue
       Ashley Lambeth             Safeco Insurance                Stuart Rowe
       Jennifer Lampi             Safeco Insurance                Dave Van Koevering
       Simon Lilley               Safeco Insurance                Ain Milner
       Nate Miller                Safeco Insurance                Stuart Rowe
       Scott Rasmussen            Safeco Insurance                Carolyn Yau
       Andrew Schroeder           Safeco Insurance                Ain Milner
       Richard Soliman            Safeco Insurance                Carolyn Yau
       Marquis Varghese           Safeco Insurance                Stuart Rowe
       Mick Vassilev              ICBC                            Camille Minogue
       Jonathan Wallentine        Safeco Insurance                Dave Van Koevering
       Miwa Williams              Safeco Insurance                Kristi Carpine-Taber
       Jessie Xiao                ICBC                            Camille Minogue
       Mei Yu                     Safeco Insurance                Stuart Rowe
       Yuling Zhou                ICBC                            Camille Minogue

The president then requested a motion that the nominees be admitted as members. This motion
was made by Ain Milner, seconded by Kristi Carpine-Taber and approved without dissent.
CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                                                                      Page 3 of 6

Proposed Constitutional Changes

The secretary/treasurer presented a summary of each change proposed below. The president
opened the floor for discussion and called for a vote by the attending Full Members of CANW.

The proposed changes were:
a.     Article III
   • Clarify full membership induction process: No vote required for CAS members to
       become CANW members.
   • Change associate membership induction process: No vote required to induct members
       with two CAS/SOA exams passed.
   • Mr. Martin asked why the rules needed to change. Mr. Wilder and Mr. Nonis answered
       that the proposal would bring the Constitution more in line with what we do in practice.
       It was noted Mr. Barclay had raised the point we don’t want to make membership in the
       CANW more rigorous than membership in the CAS.
   • A motion was made by Gordon Hay to adopt the changes, it was seconded and passed
       without dissent.
b.     Article V
   • Split of secretary/treasurer office into separate offices.
   • There was much discussion of these changes. There was a question regarding having
       four officers vs. three. Also, there was concern that the traditional movement through the
       offices would be extended to four years instead of three. Mr. Wilder and Mr. Nonis
       countered this by saying that the secretary/treasurer position has enough work for two
       people, and it might be easier to get volunteers to do this if the first year is easier (as
       opposed to the current situation).
   • A motion was made by Gordon Hay to adopt the changes, it was seconded by Gaétan
       Veilleux, and passed without dissent.
c.     Article VI
   • Remove outdated College Relations Committee requirements and specify purpose of
       other CANW committees.
   • These were amended to reflect the earlier changes in Members, Associate Members, and
       members. It was also amended to reflect “colleges and universities” instead of just
       “colleges”. It was asked if there were problems filling positions on the committee. It
       was answered that there are few problems filling the College Relations Committee
       positions, and the Program Committee has great problems filling positions.
   • A motion was made by Gordon Hay to adopt the changes, it was seconded, and passed
       without dissent.
d.     Article VII
   • Change ‘Annual Meeting’ to take place in spring rather than fall to allow for greater
       membership attendance when key business is conducted.
   • A motion was made by Kristi Carpine-Taber to adopt the changes, it was seconded, and
       passed without dissent.
CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                                                                         Page 4 of 6

Secretary/Treasurer’s Report

The secretary/treasurer, Jason Nonis, reported the current checking account cash balance to be
$9,115.05 and the current members’ equity to be $10,569.81, including dues in transit to the
bank and estimated payables for the current meeting. The report was included in the information
packet. There was a question regarding $9.76, and Jason said it was the difference in Canadian
vs. American currencies.

Vice President’s Report
The vice president, Camille Minogue, had no formal report. She did express optimism that
presentations that members might be working on at their jobs could be recast so that there are no
anti-trust concerns and could be presented to the CANW membership.

Site Committee Report

The acting site committee chair, Mr. Wilder noted Mr. Corwin had stepped down. Mr. Nonis
asked about Fall meeting location and time. One suggestion was to have the meetings in Seattle
all the time. Another suggestion was to have the meetings along the I-5 corridor. Many
members showed displeasure at having the fall meeting at resort locales and during times that
children are in school (especially if it is held at a resort locale). There was also concern that the
CAS Loss Seminar occurs in September, and this is close to the CANW meeting and trumps it if
one has to make a choice. There was concern that later meetings would run into exam season,
unless they were much later. There was concern that meetings not be held in the month after
quarter end. A suggestion was made that there be a sponsor for meetings outside the Seattle area
to help facilitate site and program preparation. Ms. Pennington expressed an interest if the date
could work with her schedule. Mr. Wilder agreed that the executive committee would make a
decision taking all these concerns into consideration.

Education Committee Report

The education committee chair, Dan Perry reported on the modeling talk he gave at CWU in
October. Dave Kennerud had WWU students travel to Milliman for a view of the actuarial
career field. There was a plea for more Canadian and Oregonian CANW members to join the
Education Committee for broader geographical reach.

Program Committee Report

The program committee co-chair, Jason Nonis, announced that there was no theme set for the
Fall 2006 meeting. He expressed a hope that more people would join the committee to create a
wider diversity of opinions on what should be on the program. He asked for members to let him
know of potential topics and speakers.

Election of New Officers
President: Camille Minogue was nominated by Randy Liu. There were no other nominations.
There was no discussion. She was elected without dissent.
CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                                                                                  Page 5 of 6


Vice President: Jason Nonis was nominated by Scott Anderson. There were no other
nominations. There was no discussion. He was elected without dissent.

Secretary: Chris Najim was nominated by Jason Nonis. There were no other nominations. There
was no discussion. He was elected without dissent.

Treasurer: Gaétan Veilleux was nominated by Jason Nonis. There were no other nominations.
There was no discussion. He was elected without dissent.

After the elections, William Wilder passed control of the meeting to Camille Minogue, the newly
elected president.

Attendee Introductions

The president requested that those present introduce themselves and specify their affiliations.

Adjournment

The president then requested a motion to adjourn. The motion was received, seconded and
passed without dissent. The business meeting adjourned at 2:05 pm.

PRESENTATION SESSIONS

The presentations began at 2:06 pm. The following is a list of the presentations made during the
Spring 2006 meeting.

AIR Approach to Modeling Terrorism Risk
Jack Seaquist, AIR Worldwide Corporation

The talk will explain how exposure concentration analysis, deterministic "what if" scenarios and fully
probabilistic loss analysis can be used separately or in combination to establish underwriting guidelines,
enabling insurers to offer profitable coverage while controlling risk. It will also explain how large loss
analyses can assist insurers in determining the impact of a range of risk transfer options.


Assessing Tsunami Risk
Patricia Grossi, Risk Management Solutions

The impacts of the Indian Ocean tsunami late in 2004 underscored the issue of tsunami risk throughout the
world. This presentation will discuss last year’s tsunami and the latest information available on its insured
loss, as well as global tsunami hazard and its implications for the insurance industry.

Recent CAS Board Activity
Regina M Berens, GE Insurance Solutions

Update on the initiatives and studies undertaken by CAS leadership


END OF PRESENTATION SESSIONS
CASUALTY ACTUARIES OF THE NORTHWEST
MINUTES OF THE SPRING 2006 MEETING
March 3, 2006
Safeco Insurance, Redmond WA
                                      Page 6 of 6


The presentations ended at 4:54 pm.

Respectfully submitted,



Jason Nonis
Secretary/Treasurer

				
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