03 September

CNO Financial Names Karen DeToro as Chief Actuary

Karen is an accomplished insurance industry leader who brings more than 25 years of actuarial, finance and product management experience to CNO,” said Bhojwani. “As CNO continues to execute against our strategic priorities to grow the franchise profitably and launch new products and services, Karen will bring significant technical expertise and consumer-focused product experience to our management team.

Industry Loss Warranties (ILWs)
10 June

Industry Loss Warranties – ILWs

This is a short summary explaining Industry Loss Warranties (ILWs). ILW is explained in detailed in Actuarial SP7 subject (formerly ST7). Definition of ILW Industry loss warranties (ILWs) are a type of reinsurance contract where the basis of cover is not indemnity, i.e. repayment of actual losses suffered. Protection is based on the total loss arising from an event to the entire insurance industry rather than individual insured company’s own losses.  Trigger Event for ILWs The original size of the industry loss is used as a trigger for eligibility to a recovery. …