and Property Casualty Insurance Fall 2011
ACTSC 463/863
1
Property and Casualty Insurance
ACTSC 463/863
Fall 2011
Instructor
E-Mail
Office Hours
Chris Van Kooten, FCAS,
FCIA
[e-mail]
By appointment only
Course Description
This course is focused on the practical aspects of Property and Casua lty (P&C) Insurance in
Canada. Through lectures, course notes and discussion, students will learn the principles of P&C
claim handling and loss reserving, including the evaluation of standard reserving techniques.
Required Course Materials
Friedland, J.F., Estimating Unpaid Claims Using Basic Techniques, Casualty Actuarial Society, July
2010.
Course Website
Course materials, including lecture slides, can be downloaded from the course websi te on ACE.
The textbook can be downloaded from the exam 5 study tools section of the CAS website.
Grading Scheme
Mid-term Exam
Final Exam
30%
70%
100%
Important Dates
October 31
Midterm In Class
ACTSC 463/863
Property and Casualty Insurance Fall 2011
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TENTATIVE CLASS SCHEDULE
Lecture
Date
Syllabus
1
Sep 12
Course Outline
Unpaid Claims Chapters 1-5
2
Sep 19
Unpaid Claims - Chapter 6-9
3
Sep 26
Unpaid Claims - Chapter 10-12
Oct 3
Class Cancelled
Oct 10
Thanks Giving No Class
4
Oct 17
Unpaid Claims Chapter 13-15
5
Oct 24
Midterm Review
Midterm
Oct 31
Midterm IN CLASS
6
Nov 7
Unpaid Claims - Chapter 16-17
7
Nov 14
Study Note Brosius
Study Note Mack (2000)
8
Nov 21
Study Note Clark
9
Nov 28
Study Note Discounting
10
Dec 5
Review
Final Exams
Dec 8-22
ACTSC 463/863
Property and Casualty Insurance Fall 2011
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Midterms & Final Exams
The midterm will cover all course material covered through lectures 1-5. The final exam will cover
the entire course material.
Important Information Regarding Assignments, Midterms and Grading
There are no deferred midterms. If you miss a midterm exam and have a valid and
documented excuse, only then will the weight be shifted to the final exam. In the case of
an illness, you must present the Verification of Illness Form available from the Health
Services website so that the Instructor can decide whether or not you may be excused.
Be aware that regulations from the Faculty of Mathematics state that an INC is only given
in exceptional cases.
Requests for re-grading an assignment or a midterm must be made within one week after
the assignment/midterm have been handed back to the class. To have your
assignment/midterm considered for re-grading, it must be written in ink. Note that the
Instructor reserves the right to re-grade the entire assignment/midterm and raise or lower
the originally grades assigned.
Academic Misconduct and Sanctions
Academic Integrity
In order to maintain a culture of academic integrity, members of the University of Waterloo
community are expected to promote honesty, trust, fairness, respect and responsibility.
Grievance
A student who believes that a decision affecting some aspect of his/her university life has
been unfair or unreasonable may have grounds for initiating a grievance. Read Policy 70 Student Petitions and Grievances, Section 4,
http://www.adm.uwaterloo.ca/infosec/Policies/policy70.htm
Discipline
A student is expected to know what constitutes academic integrity, to avoid committing
academic offenses, and to take responsibility for his/her actions. A student who is unsure
whether an action constitutes an offense, or who needs help in learning how to avoid
offenses (e.g., plagiarism, cheating) or about rules for group work/collaboration should
seek guidance from the course professor, academic advisor, or the Undergraduate
Associate Dean. When misconduct has been found to have occurred, disciplinary penalties
will be imposed under Policy 71 Student Discipline. For information on categories of
offenses and types of penalties, students should refer to Policy 71 Student Discipline,
http://www.adm.uwaterloo.ca/infosec/Policies/policy71.htm
Avoiding Academic Offenses
ACTSC 463/863
Property and Casualty Insurance Fall 2011
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Most students are unaware of the line between acceptable and unacceptable aca demic
behaviour, especially when discussing assignments with classmates and using the work of
other students. For information on commonly misunderstood academic offenses and how
to avoid them, students should refer to the Faculty of Mathematics Cheating a nd Student
Academic Discipline Policy,
http://www.math.uwaterloo.ca/navigation/Current/cheating_policy.shtml
Appeals
A student may appeal the finding and/or penalty in a decision made under Policy 70 Student Petitions and Grievances (other than regarding a petition) or Policy 71 Student
Discipline if a ground for an appeal can be established. Read Policy 72 - Student Appeals,
http://www.adm.uwaterloo.ca/infosec/Policies/policy72.htm
Academic Accommodation
Students with disabilities or special needs are advised to contact The Office For Persons with
Disabilities (OPD), located in Needles Hall, Room 11432. OPD collaborates with all academic
departments to arrange appropriate accommodations for students with disabilities without
compromising the academic integrity of the curriculum. If you require academic accommodations,
please register with the OPD at the beginning of each academic term.