Actuaries and Hang-gliding!

Senior businessman laughing at office meeting

Two of my favorite jokes about actuaries are:

  1. An actuary, an underwriter, and an insurance salesperson are riding in a car. The salesperson has his foot on the gas, the underwriter has his foot on the brake, and the actuary is looking out the back window telling them where to go; and
  2. Two actuaries are duck hunting. They see a duck in the air and they both shoot. The first actuary’s shot is 20 feet wide to the left. The second actuary’s shot is 20 feet wide to the right. The actuaries give each other high fives, because on average they shot it.

Funny? Well, a little bit any way. Actuaries kind of get a raw deal as being so geeky and numbers orientated that they have trouble fitting into polite company. But I don’t find that true, for the most part.  I did have an actuary friend of mine tell me in all seriousness that he dreams in numbers – really!

USHPA

Here’s where the hang-gliding comes in: we have a number of the best actuaries in the captive business speaking at our upcoming annual conference with the RRG risk management officer for the US Hang Gliding and Paragliding Association. It’s shaping up to be one of our most popular conference sessions and is sure to be fascinating.

Recreation Risk Retention Group (RRRG) was created in 2016 to insure the unique risks faced by the hang gliding and paragliding industry. Tim Herr has over 30 years experience as a transactional and trial attorney in both state and federal courts and has represented the United States Hang Gliding and Paragliding Association for almost 30 years.

Joining Tim at our session entitled Innovative Spotlight: Financing Unique Risk will be Bob Gagliardi, head of AIG’s captive management and US Fronting operations, and Rob Walling, Principal and Consulting Actuary with Pinnacle Actuarial Resources, Inc. Behind the scene we have Mike Meehan from Milliman and Aaron Hildebrandt from Pinnacle providing their guidance and actuarial expertise.

This session explores the process RRRG went through to add unique risks to their program and will include details of the expected and unexpected obstacles encountered in adding the unique coverage, and how the obstacles were overcome.   And here is the kicker that should grab your attention: actuarial considerations will be covered! So come and join us, learn something, and laugh a little…

OK, last joke: How much is two plus two? A marketing VP will say “22”. An accountant will say “4.00”. A mathematician will say “I can demonstrate it equals 4 with the following proof … ” An actuary will ask “What do you want it to equal?”

Thank you and I look forward to seeing you August 7 – 9!

Rich Smith
VCIA President

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