Thursday, September 13, 2012

16:30 – 18:30 Meeting of the Committee on Actuarial Evidence

Observers welcome.                              

Friday, September 14, 2012

07:30-16:00 Registration
07:45-08:45 Buffet Breakfast
08:45-09:00 Welcoming Remarks and Overview of the Seminar

Peter Martin, Seminar Organizing Committee

09:00-09:30 Session 1 - Update from the Committee on Actuarial Evidence (AEC)

An update on the AEC's recent activities and its plans for the coming year.

09:30-10:30 Session 2 - Experience and Issues with the New Marriage Breakdown SOP Across Canada (Panel Discussion)

By the time of the AE seminar, it will have been eight months since the revised Standard of Practice (SOP) for Capitalized Value of Pension Plan Benefits for a Marriage Breakdown came into effect. This session will focus on the panellists’ experiences in applying this revised SOP, including what elements of the SOP do and don’t work well, along with feedback from the legal community that has been received by these actuaries.

10:30-10:45 Networking Break
10:45-12:15 Session 3 - Review of the Actuarial Evidence Standards of Practice (Workshop)

In late 2010 the Actuarial Standards Board appointed a designated group (DG) to propose revisions to the Actuarial Evidence (AE) Standards of Practice (excluding section 4300, which relates to the capitalized value of pension plan benefits for a marriage breakdown). An exposure draft which sets out proposed changes to the AE standards and relevant parts of the General Standards was published in September. At this session, members of the DG will:

• Provide an update on the proposed revisions to the AE standards and relevant General Standards;

• Highlight key issues addressed in the exposure draft and review specific sections; and

• Invite comments from practitioners.


12:15-13:15 Luncheon
13:15-14:30 Session 4 - Retirement Counselling (Panel Discussion)

Following traditional actuarial careers, Patrick Longhurst and William Jack started working together as Certified Financial Planners in 2004 and ultimately formed a partnership that provided pre-retirement counselling to many individuals over a seven-year period. In this session, Patrick and William will describe their personal backgrounds and the different paths that took them into this area of practice. They will touch on the process for qualifying as a Certified Financial Planner, how they acquired their clients and expanded their business, the issues that their clients encounter in retirement planning and how these are addressed, and what reports and services they provide to their clients. They will also describe the more recent turn that their careers have taken and the areas of specialty that they are currently pursuing separately.

14:30-14:45 Networking Break
14:45-16:00 Session 5 - Fair Market Value of Life Insurance Policies (Teaching Session)

When ownership of an in-force life insurance policy is transferred for charitable giving, financial planning, or any other purpose, the parties may require a fair market value (FMV) estimate for establishing donation receipt amounts, taxable benefits, taxable income, etc. In a non-traditional practice area that’s even smaller than AE, a small number of actuaries provide these fair market value calculations to policyholders and/or their financial advisors. The CIA recently established a task force to review and document the range of practice in this area. Experienced FMV actuaries will discuss the topic and provide an update on the task force’s activities.

16:05-17:30 Session 6 - Experience and Issues under Ontario’s Bill 133 Marriage Breakdown Regime (Panel Discussion)

As of January 1, 2012, there is a new pension valuation regime in place in Ontario, and new pension division rules for Ontario-registered plans. Learn about the key issues that have arisen since the new rules became effective. Find out how other AE actuaries are interpreting the regulations, and the evolving role of independent actuaries in the marriage breakdown area.

18:30 till the cows come home Networking Dinner at Snug Harbour Restaurant

Come for great networking, delicious food, and a terrific view of the harbour. Spouses and partners are welcome. Advance registration and payment are required. No registrations for the dinner will be accepted after September 10 and no on-site reservations are permissible. The cost of the dinner is $46 per person, taxes and gratuities included. Any drinks are extra. NO refunds are available if you are unable to attend after registering.

Saturday, September 15, 2012

07:45-08:30 Buffet Breakfast
08:30-09:45 Session 7 - Current Issues in Personal Injury (Panel Discussion)

In recent years, the Ontario courts have at least twice accepted calculations that were based on discount rates other than the mandated rates. In Greenhalgh, the experts disagreed on how to determine the mandated rate for losses beyond 15 years. In Gordon v. Greig, the court accepted an expert’s opinion that the mandated rates resulted in an understatement of the costs of care. The speakers will review key aspects of these two decisions, the roles of the experts, and the implications both in Ontario and elsewhere in Canada.

09:45-10:00 Networking Break
10:00-12:00 Session 8 - Marketing Strategies for Independent Actuaries (Panel Discussion)

How does one acquire clients in a new area of practice? How does one substantially increase the number of one’s clients in an existing area of practice? The panelists will relate their personal experience and methods of accomplishing this. Areas touched on include selecting your market, branding, selection of marketing strategies and the role of social media. These include websites, e-mail newsletters, speaking engagements, blogging, and advertising.


12:00-12:15 Concluding Remarks

Peter Martin, Seminar Organizing Committee