Understanding Reinstatement Provisions

May 16, 2012

Title:  “Understanding Reinstatement Provisions

Session Description:
The LTC reinstatement process poses significant risk management challenges to insurers.  During this teleconference, we will discuss the key regulations that impact the reinstatement process as well as the underwriting risks associated with the reinstatement process and how the risks may be mitigated by the insurer through sound operational procedures and effective governance over LTC policy administration.

Speaker:  Loretta Jacobs, FSA

Speaker Bio:
Loretta Jacobs joined Ernst & Young's Insurance and Actuarial Advisory Services unit to lead its LTC advisory and actuarial audit services practice in April 2011. Ms. Jacobs has spent the bulk of her 20+-year career in insurance company positions of increasing responsibility. Most recently, she served as Chief Actuary for the Life and Health Insurance business of a major multiline company with $8 billion of LTC and $3 billion of annuity and institutional markets product liabilities under her management and immediately prior to that role as Operating Head for that company's LTC insurance business with over $600 million of in-force premium.

Ms. Jacobs has been a Fellow of the Society of Actuaries (SOA) since 1994 and a member of the American Academy of Actuaries (MAAA) since 1993. She has served on the SOA LTC exam committee, the AAA Long-Term Care Task Force, the HIAA (now AHIP) LTC Rate Stabilization Working Group, and the ACLI LTC Actuarial Working Group. She completed her three-year term on the SOA LTC Section Council in October 2009 and currently serves on the AAA Health Solvency Task Force. She is a frequent speaker at industry conferences and has served as Assistant Editor of the SOA's monthly newsletter, The Actuary. Ms. Jacobs graduated with high honors from the University of Notre Dame with a Bachelor of Science in Mathematics.