ACLI Annual Conference 2012

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  • 1. 2012 Annual Conference October 21—23 JW Marriott Washington, DC P re lim in a r y P rogram Early-Bird Registration Rates End August 1Challenging Issues Creative Solutions Positive Results A m e r i c a n C o u n c il of Li fe I ns urers | F I N A N C I A L S E C U R I T Y. . . f o r L I F E . 101 Constitution Avenue, NW, Suite 700, Washington, DC 20001–2133 www.acli.com
  • 2. P rogra mSunday, October 21 Monday, October 22 Tuesday, October 23Sunday morning’s program will 7:15–8:15 am 7:30–8:15 am focus on issues of particular interest Continental Breakfast Hot Issue Breakfastto ACLI’s Forum 500 companies(companies with less than $2 billion 7:30–8:15 am 8:30–9:30 am in assets and capital surplus of $200 Hot Issue Breakfast General Session:million or less). Financial Services Regulation 8:30–10:15 am General Session: 9:45–10:45 am 8:00–9:30 am n Welcome Concurrent SessionsForum 500 Section Board of Mary Alice WilliamsGovernors Meeting 10:45–11:00 am Veteran Broadcast Journalist Refreshment Break10:00 am–noon n Advocacy UpdateForum 500 General Session: Dirk Kempthorne 11:00 am–Noon An Update from the NAIC President and Chief Executive Officer Concurrent Sessions ACLI 12:15–2:00 pm 12:15–1:45 pm Luncheon: n Chairman’s Perspective Luncheon:Trends, Technology and Theodore A. Mathas Political Trends andTaking the Lead Chairman, President and the Upcoming Election Chief Executive Officer Stuart Rothenberg, Editor andScott Klososky, Founding Partner of New York Life Publisher of The Rothenberg PoliticalFuture Point of View LLC n Annual Business Meeting and Report and Columnist for Roll Call2:00–4:30 pm Elections 2:00–3:00 pm ACLI Board of Directors Meeting(ACLI members and their representatives n Economic Outlook Closing Session: Legislative andonly) Douglas Holtz-Eakin, President, Regulatory Challenges American Action Forum; Former 5:00–5:45 pm Director, Congressional Budget Reinsurance Reception Office(by invitation only) 10:15–10:30 am 5:30–7:00 pm Refreshment BreakWelcome Reception andExhibitor Marketplace Opening 10:30 am–12:00 pm Concurrent Sessions6:30–9:30 pm Board of Directors and Directors’ 12:15–1:45 pm Council Reception and Dinner Luncheon:(by invitation only) Impact of Derivatives Regulation Gary Gensler, Chairman, U.S. Commodity Futures Trading Commission 2:00–3:00 pm Concurrent Sessions 3:00–3:30 pm Ice Cream Social in Exhibitor Marketplace 3:30–4:30 pm Concurrent Sessions 5:00–7:00 pm Reception in Exhibitor Marketplace Evening PAC Event (by invitation only) Reception & Dinner at Nationals Park2 www.acli.com/ann2012  (202) 624-2424 (p)  (202) 624-2425 (f) @ACLINews #ACLI2012
  • 3. Sp eaker sGeneral Sessions LuncheonsConference Emcee Sunday, October 21Mary Alice Williams Scott KlososkyVeteran Broadcast Journalist; Professor Founding Partner of Future Point of View LLCof Journalism at Purchase College, State Trends, Technology andUniversity of New York Taking the LeadMary Alice Williams is one of the most Technology is simply a tool, but in theprestigious names in network television. right hands it can be magical. Join ScottHer investigative work on such topics as Klososky for a thought provoking yet practical discussionforeign policy, ethics, technology, and healthcare have on the importance of understanding how to leveragemade her a respected authority and recognized voice for technology to drive top-line revenues or to lower bottom-public information. Williams` preeminent stature as a news line costs. Learn about new trends as well as practicalanchor, programmer, and radio and television personality tools that you can implement immediately. With a fast-extends to public and cable television, as well as the paced and entertaining style, Scott creates the contextcorporate business world and interactive media. for the technology terms you might have heard but never understood.Monday, October 22Douglas Holtz-Eakin Monday, October 22President, American Action Forum; Former Gary GenslerDirector, Congressional Budget Office Chairman, U.S. Commodity Futures TradingEconomic Outlook CommissionDistinguished academic, policy advisor, and Impact of Derivatives Regulationstrategist Douglas Holtz-Eakin will discuss Gary Gensler, Chairman of the U.S.the current administration’s economic policy, examine the Commodity Futures Trading Commission—state of recovery from the financial crisis, and forecast the the leading contender to oversee the complex derivativeseconomic challenges ahead. contracts that played a central role in the financial crisis— will share his perspective on the impact of derivativesTuesday, October 23 regulation on the life insurance industry. Chairman GenslerSpeaker to be announced is emerging as one of the nation’s preeminent reformers, working to implement some of the most stringent financialFINANCIAL SERVICES REGULATION regulations in history.Session will address key regulatory developmentssurrounding the U.S. economy and capital markets. Tuesday, October 23Remarks will focus on the Dodd-Frank Act and the role Stuart Rothenbergof the Federal Insurance Office, including international Editor and Publisher of The Rothenbergdevelopments and regulations of interest to the life Political Report and Columnist for Roll Callinsurance industry. Political Trends and the Upcoming Election For years, Stuart Rothenberg has embodied the rare ability to report on all the political happenings in the nation with unbiased clarity and non-partisan precision. He offers his razor-sharp insights into political trends and the upcoming elections. Known as one of Washington’s most intuitive political handicappers, Rothenberg presents his insider views on hotly debated issues and how the future of politics is being shaped. facebook.com/aclinews 2012 ACLI Annual Conference October 21–23  Washington, DC 3
  • 4. Co ncurre n t S es s i o n sMonday, October 2210:30 am–noon Concurrent Session 1—Legal/Compliance Concurrent Session 3—Investment/FinancialState Legislative Panel Help Wanted: Old Assumptions Need Not ApplyThis roundtable discussion will feature state legislators The extended period of low interest rates is affectingfrom across the country with expertise in public policy investment returns, narrowing the spread betweenissues impacting the life insurance industry. Topics will legacy liabilities and investment income. New businessinclude unclaimed property, state-run retirement plans, opportunities are being squelched by low crediting rates.financial regulation, and the latest strain of STOLI. Tried and true investment strategies may create more risk(CLE Eligible) because liabilities and cash flow are increasingly variable and uncertain. This session will explore operating andConcurrent Session 2—Investment/Financial asset solutions life companies can consider when oldMANAGING RISK IN A LOW INTEREST RATE assumptions no longer apply. (CPE Eligible)ENVIRONMENTA panel of chief financial officers and chief investment Concurrent Session 4—Internationalofficers will engage in a candid discussion about strategies Exploring Global Risk Managementfor managing risk within portfolios in a low interest rate Domestic insurance regulators and international insuranceenvironment. (CPE Eligible) supervisors are increasingly focused on the quality and2:00–3:00 pm effectiveness of an insurance group’s enterprise risk management. Come hear what keeps Chief Risk OfficersConcurrent Session 1—Legal/Compliance; Technology up at night and the steps they are taking to meet thoseCrossing the Digital Divide: The Complete challenges. eSale—from Application to DeliveryTechnology continues to challenge long-accepted 3:30–4:30 pm insurance practices, accelerating and condensing the Concurrent Session 1—Legal/Compliancesales process. In this session you will learn about trends Unclaimed propertyin insurance sales, including voice applications, eDelivery,and social media. New techniques and processes will With recent announcements of multi-state, multi-millionbe discussed along with the practical business and dollar settlements with insurers, one might expect newcompliance challenges they present. Speakers will address guidance to be issued for the administration of unclaimedthe rewards—and pitfalls—in crossing the digital divide. insurance property…but will it? NCOIL modeling and NAIC(CLE Eligible) reticence have confused legislators and insurers interested in modernizing insurer policy benefit management, claimsConcurrent Session 2—Investment/Financial handling, and abandoned property processing. Three ofHousing Outlook the nation’s most informed experts in unclaimed insurance property management will share their insights on how lawsThe housing market has stabilized in some areas of the are evolving and how changes will affect insurers of allcountry, while it remains dismal in others—creating a sizes. (CLE Eligible)moderately optimistic outlook. This session will examineobstacles and opportunities for commercial mortgage- Concurrent Session 2—Investment/Financialbacked securities and residential mortgage-backed Real World Implications of Global Solvencysecurities given the current housing market. Topics to be Modernizationcovered include managing distressed assets, delinquenciesand foreclosures; the return of liquidity; the government’s Solvency regulation relies on a comprehensive set ofrole; and agency vs. non-agency MBS. (CPE Eligible) accounting principles to assess the financial condition of the reporting entity. The alignment of domestic accounting standards and international reporting standards is closer to becoming a reality. These new standards could have major implications for all life insurance companies preparing financial statements in accordance with U.S. GAAP as well , as with statutory accounting. This session will discuss the operational challenges as a result of the new standards and their potential effect on regulatory oversight. (CPE Eligible)4 www.acli.com/ann2012  (202) 624-2424 (p)  (202) 624-2425 (f) @ACLINews #ACLI2012
  • 5. Monday, October 22 (continued)3:30–4:30 pm Concurrent Session 3—Investment/Financial; Products Concurrent Session 3—Reinsurance; InternationalVariable Annuities: A Market in Transition Achieving Equivalence under Solvency II: What Does it Mean?The variable annuity market is undergoing a series ofsignificant changes. This session will review how the Is the U.S. on track for equivalence under Solvency II?market is evolving and the implications for the future.  Listen to a panel of experts discuss issues related toAmong the macro changes discussed will be diminished supervision, confidentiality, and reinsurance.market participants and emerging risk managementstrategies. The reaction of distribution platforms to broad Concurrent Session 4—Productsmarket changes also will be discussed. (CPE Eligible) INCREASING ANNUITY OPTIONS IN Retirement PLANSConcurrent Session 4—Legal/Compliance; Technology Recent actions by the Administration encourage annuitiesThe Importance of Cybersecurity: Helping and lifetime income in retirement plans and IRAs. TreasuryBusiness Opportunities Unfold and DOL officials will join industry representatives in aOnline innovations can position your business for discussion of new rules to facilitate annuity options.enormous gains over the next decade. Mobile technologieswill boost workforce productivity; social networking will 11:00 am–noon promise new ways to collaborate; and cloud computing will Concurrent Session 1—Legal/Complianceimprove business agility. Such technologies can increase LEGAL TRENDS: INSURABLE INTEREST AND RETURNyour competitive advantage, but only if you understand and OF PREMIUMneutralize emerging threats. This session will look at the Courts are revitalizing insurable interest doctrine withthreats that these innovations can bring and what can be electrifying decisions permitting insurers to retaindone to counter them. (CLE Eligible) premium when STOLI or egregious fraud is proved. However, investors are striking back with counter-litigationTuesday, October 23 and legislation to compel insurers to repay premium to9:45–10:45 am “innocent” investors. This panel will discuss the risks to the insurance business associated with such attempts.Concurrent Session 1—Legal/Compliance (CLE Eligible)LIFE & HEALTH INSURANCE GUARANTYASSOCIATIONS Concurrent Session 2—Medical/UnderwritingPanelists will discuss various issues relating to the Weight and Obesity: Trends and Implicationsguaranty association system, including recently-enacted An insurance medical director will provide his perspectivestate legislation, coverage claims (e.g., joint annuities, on weight and obesity—prevalence, trends, etiologies,separate account products), uniformity of coverage, pre- morbidity and mortality implications, interventions, andsale disclosure, advertising prohibition, IAIS and OECD challenges.issue papers, and receiverships. (CLE Eligible) Concurrent Session 3—ProductsConcurrent Session 2—Investment/Financial The Life Insurance Industry from a2012 Elections: Impact on Global Markets Journalist’s PerspectiveAs the U.S. presidential election draws near, many wonder Three noted journalists will discuss their approach tohow the newly-elected (or re-elected) Administration will gathering information about the industry, what insurers andaddress fiscal and regulatory issues and the impact of financial representatives are doing to attract their interest,those decisions on global markets. Meanwhile, the world’s and what stories they anticipate covering in the near- andsecond-largest economy—China—is facing structural long-term.challenges as it undergoes a critical political transitionthrough early 2013. This session will discuss how the U.S. 2:00–3:00 pm and China will influence each other in the coming years and Closing Session—Legal/Compliancethe impact of the ongoing European economic crisis. Legislative and Regulatory Challenges(CPE Eligible) Join ACLI staff for a review of the legislative and regulatory challenges facing the industry today. (CLE Eligible) facebook.com/aclinews 2012 ACLI Annual Conference October 21–23  Washington, DC 5
  • 6. Sp ouse /Gu es t P ro g ramJoin Patricia Kempthorne, wife of ACLI’s President & CEO Tuesday, October 23Dirk Kempthorne, for special activities during your stay in 8:30–11:30 amWashington, D.C. Library of CongressSpouse/Guest Hospitality Room Originally created as aRefreshments, light snacks, and information on local reference library for Congress,attractions will be available for conference guests. the Library of CongressSunday, October 21—3:00–5:00 pm today boasts a collectionMonday, October 22—8:00 am–4:00 pm of more than 144 millionTuesday, October 23—8:00 am–noon items, including books and manuscripts, films, maps, and musical recordings. ButActivities beyond the Library’s impressive collection, the building itself is a work of art created in the style of the ItalianSunday, October 21 Renaissance. During this tour you will learn about the9:00 am–noon building’s architecture, how the collection has evolved,A Morning in the Nation’s and the role of the Library today.Capital Cost: $65 per person.Join us as we go back intime to learn about some ofour country’s most belovedmonuments and places inhistory. You will see manyof Washington, D.C.’s iconic attractions and learn moreabout the city’s history and inner workings. Lunch at a localhistorical site to follow.Cost: $75 per person.Monday, October 228:00 am–2:30 pmMount Vernon: GeorgeWashington’s Historic EstateGeorge Washington’splantation on the banks ofthe beautiful Potomac Riveroffers a chance to understandAmerica’s first hero andthe fascinating world in which he lived. You will have theopportunity to visit the estate, gardens, and farm decoratedin the turning colors of fall. Highlights of the visit include atour inside the mansion, private luncheon at theMount Vernon Inn, and time for shopping.Cost: $95 per person.6 www.acli.com/ann2012  (202) 624-2424 (p)  (202) 624-2425 (f) @ACLINews #ACLI2012
  • 7. Ac cre d it a t io n /A n t it ru s t S t a tem entAccreditation Antitrust StatementCLE  The annual conference is fully accredited in The American Council of Life Insurers is committed tomost jurisdictions requiring mandatory continuing legal adhering strictly to the letter and spirit of the antitrusteducation. Forms for CLE credits are available at the laws. Meetings conducted under the ACLI’s auspices aresessions. designated solely to provide a forum for the expression of various points of view on topics described in theCPE  ACLI is registered with the National Association of agenda. Under no circumstances shall ACLI meetingsState Boards of Accountancy (NASBA) as a sponsor of be used as a means for competing companies to reachcontinuing professional education on the National Registry any understanding, expressed or implied, which tends toof CPE Sponsors. State boards of accountancy have final restrict competition, or in any way, to impair the abilityauthority on the acceptance of individual courses for CPE of members to exercise independent business judgmentcredit. Complaints regarding registered sponsors may regarding matters affecting competition.be submitted to the National Registry of CPE Sponsorsthrough its website: www.learningmarket.org. © 2012 American Council of Life InsurersProgram Level  Intermediate (participants have had someexposure to the subjects). Curriculum will build on basicskills to relate fundamental principles to practical situationsand extend them to a broader range of application.Learning Objectives  Upon completion, participants willhave a better understanding about corporate governance,risks associated with stock market volatility, the impactof low interest rates, strategies centered around productdecisions and business lines, and best practices companiesare using in today’s global markets; learn how to managecapital market challenges and the impact of government,regulatory, and accounting responses to the crisis;receive best practice tips on assessing and reportingfinancial risk, learn more about important aspects of thechanging regulatory landscape and integration; learnspecifically about derivative regulation, learn about thesignificant changes to the variable annuities market; hearexperts discuss real world implications of global solvencymodernization.Program Prerequisites/Advance Preparation Noadvanced prerequisite or preparation is required.Instructional Method  Group-live presentations withinstructor in room with participants.Recommended CPE Credits  8.5 hours.Sponsored activities are measured by program length, withone 50-minute period equal to one CPE credit. One-halfCPE credit increments (equal to 25 minutes) are permittedafter the first credit has been earned in a given learningactivity.Not all state boards have adopted this method ofcalculation; some may not accept half-credit increments. facebook.com/aclinews 2012 ACLI Annual Conference October 21–23  Washington, DC 7
  • 8. A ffilia te s8 www.acli.com/ann2012  (202) 624-2424 (p)  (202) 624-2425 (f) @ACLINews #ACLI2012
  • 9. R e g is t rat ionRegister online at www.acli.com/ann2012 or Identify which session topics you are most interested inRETURN FORM TO: (Check all that apply):American Council of Life Insurers ❏ Legal/Compliance ❏ Medical/UnderwritingConference Development Department ❏ International ❏ Reinsurance101 Constitution Avenue, NW; Suite 700 ❏ Products ❏ TechnologyWashington, DC 20001-2133 ❏ Investment/Financial ❏ OtherTelephone: (202) 624–2424Fax: (202) 624-2425 Additional Information❏ Mr. ❏ Mrs. Primary person to be notified in case of an emergency❏ Ms. ❏ Other Name __________________________ Relationship _____________________Full Name _________________________________________________ Phone __________________________Name on Badge ___________________________________________Position/Title ______________________________________________Company _________________________________________________ ❏ First-time attendee at ACLI Annual Conference?Corporate Address _________________________________________ How did you hear about the conference?City _____________________________________________________State ________________________ Zip__________________________ ❏ ACLI MailingCountry ________________________ ❏ ACLI WebsitePhone ______________________ Fax__________________________ ❏ ACLI E-mailE-mail ____________________________________________________ ❏ Social Media________________________________ ❏ OtherSpouse/Guest Name _______________________________________Name on Badge ___________________________________________ Special ServicesPosition/Title ______________________________________________Company _________________________________________________ ❏ Check here if you are disabled, require special services, have aCorporate Address _________________________________________ dietetic requirement, or special meal request. Describe or attach aCity _____________________________________________________ separate sheet if necessary.State ________________________ Zip__________________________Country ________________________ __________________________________________________________Phone ____________________________________________________ __________________________________________________________Fax ______________________________________________________ __________________________________________________________E-mail ____________________________________________________ ________________________________ Group DiscountCONFERENCE FEES Register three or more people from your company at the same time for ACLI’s full conference and take $50 off each registration Before Aug. 1 After Aug. 1 fee. All forms must be submitted at the same time to qualify for this rate. For online registrations please e-mailFull Conference genevabarber@acli.com for this group discount promotional code.❏ ACLI Member $925 $1,025 _______ (Group discount does not apply to spouses/guests.)❏ Non-Member $1,125 $1,225 _______One-Day❏ ACLI Member $325 $350 _______❏ Non-Member $425 $450 _______Spouse/Guest $195 $195 _______ Total $_______ facebook.com/ACLINews 2012 ACLI Annual Conference October 21–23 Washington, DC 9
  • 10. Registra ti o n ( c o n ti n u e d )SESSIONS/EVENTS METHOD OF PAyMENTDay Sessions Registrant Spouse/ Guest ❏ VisaSun. Oct. 21 ❏ MasterCard8:00 am Forum 500: Board of governors meeting ______ ❏ American Express10:00 am Forum 500: General session ______12:15 pm Luncheon with speaker (Klososky) ______ ______ ❏ Diners Club2:00 pm ACLI Board of Directors meeting ______ ❏ Discover5:00 pm Reinsurance reception (invitation only) ______5:30 pm Welcome reception and exhibitor marketplace opening ______ ______ Name on card (print) ______________________________Mon. Oct. 227:30 am Hot issue breakfast ______ ______ _________________________________________________8:30 am General session: Economic Outlook ______10:30 am Concurrent sessions (choose one) State Legislative Panel ______ Signature ________________________________________ Managing Risk in a Low Interest Rate Environment ______12:15 pm Luncheon with speaker (Gensler) ______ ______ _________________________________________________2:00 pm Concurrent sessions (choose one) Crossing the Digital Divide ______ Housing Outlook ______ Card # ___________________________________________ Help Wanted: Old Assumptions Need Not Apply ______ Exploring Global Risk Management ______3:00 pm Ice cream social in exhibitor marketplace ______ ______ Card expiration date _______________________________3:30 pm Concurrent sessions (choose one) Unclaimed Property ______ *Check enclosed $ ____________________________ Global Solvency Modernization ______ Variable Annuities: A Market in Transition ______ Make checks payable to American Council of Secure Your Business with Cybersecurity ______ Life Insurers (or ACLI) * USD only5:00 pm Reception in exhibitor marketplace ______ ______Tues. Oct. 23 HOUSING7:30 am Hot issue breakfast ______ ______8:30 am General session: Financial Services Regulation ______ ACLI has reserved a block of rooms at the JW9:45 am Concurrent sessions (choose one) Life & Health Guaranty Associations ______ Marriott until Friday, September 21, 2012. 2012 Elections: Impact on Global Markets ______ Reservations may be made online, or via phone. What will Equivalence Mean? ______ To make reservations online visit Increasing Annuity Options ______ www.jwmarriott.com. To make reservations by11:00 am Concurrent sessions (choose one) Insurable Interest & Return of Premium ______ phone call (202) 393-2000. The group rate is $309 Weight & Obesity: Trends & Implications ______ single/double per night plus applicable taxes. The The Life Insurance Industry deadline to make hotel reservations is Friday, from a Journalist’s Perspective ______12:15 pm Luncheon with speaker (Rothenberg) ______ ______ September 21, 2012, or once the room block is2:00 pm Closing session filled. Requests received after the cutoff date will Legislative & Regulatory Challenges ______ be accepted on a space available basis, at the hotel’s prevailing rate.FEE SUMMARyActivity Details and Cost Per Person Participants Total CONFERENCE CANCELLATIONS/Sun. Oct. 21 A Morning in the Nations Capital $75 _____ ______ REFUNDSMon. Oct. 22 Mt. Vernon $95 _____ ______ Conference cancellations received beforeTues. Oct. 23 Library of Congress $65 _____ ______ Friday, September 21, 2012 will be refunded,Subtotal Optional activities and sessions _____ $ ______ less a $100 administrative/cancellation fee.Subtotal Registration _____ $ ______ Optional activity cancellations received before (bring total from first page) September 21, 2012, will be refunded less a $10Total Amount Due _____ *$ ______ (registration plus optional items) administrative/cancellation fee. All cancellations and requests for refunds must be submitted* USD only in writing. No refunds will be issued after September 21, 2012. For inquiries, or more information regarding administrative policies such as refunds, contact ACLI registration at: genevabarber@acli.com, (202) 624-2424 (p), (202) 624-2425 (f).10 www.acli.com/ann2012 (202) 624-2424 (p) (202) 624-2425 (f) @ACLINews #ACLI2012
  • 11. S p onsor sChairmanPresidentDirector facebook.com/aclinews 2012 ACLI Annual Conference October 21–23  Washington, DC 11
  • 12. American council of life insurers101 constitution avenue NW, suite 700Washington, DC 20001-2133Stra te gic Partn ers E x h ib ito r M a rke t place Visit the Exhibitor Marketplace to review innovative products and services available to the industry. The Exhibitor Marketplace will host a welcome reception on Sunday, and an afternoon ice cream social and evening reception on Monday. To reserve a booth, call (202) 624–2405. Sunday, October 21, 5:30–7:00 pm Monday, October 22, 3:00–4:00 pm, 5:00–7:00 pm Scan the QR code to visit www.acli.com/ ann2012 on your phone and get the latest information about the 2012 Annual Conference.