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2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse)

Canadian Institute of Actuaries. L’Institut canadien des actuaires. 2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse). The Committee Activities 1988-97 LTD Termination Study 2004-8 LTD Termination Study 2004-8 LTD Incidence Study

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2009 Annual Meeting ● Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse)

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  1. Canadian Institute of Actuaries L’Institut canadien des actuaires 2009 Annual Meeting ●Assemblée annuelle 2009 Halifax, Nova Scotia ● Halifax (Nouvelle-Écosse)

  2. The Committee Activities 1988-97 LTD Termination Study 2004-8 LTD Termination Study 2004-8 LTD Incidence Study 2009 Post Retirement Medical Study Future Studies Details on 1988-97 LTD Study 2009 Annual Meeting Assemblée annuelle 2009 IP 4 Group Life and Health Research

  3. Part of the CIA Research Committee Current team active Since Mid-2008 Includes representative from Large and small insurers Reinsurers Consultants Ontario, Quebec and the West 2009 Annual Meeting Assemblée annuelle 2009 Group Life and Health Research Sub-Committee

  4. 2009 Annual Meeting Assemblée annuelle 2009

  5. Continuation of 1998-94 LTD and waiver studies Inherited a largely complete study Published on CIA website June 2009 Details later 2009 Annual Meeting Assemblée annuelle 2009 1988-97 LTD Termination Study

  6. New study RFP for researcher in early 2009 Fraser/Garand will perform the study Request for data May 2009 Final study expected Mid-2010 2009 Annual Meeting Assemblée annuelle 2009 2004-8 LTD Termination Study

  7. Include All claims paid 2004-8 ASO and Litigated claims Tracked but excluded Exclude Plans with max. duration <10 years Track Plan/Employer Information Offsets 2009 Annual Meeting Assemblée annuelle 2009 2004-8 LTD Termination Study - Scope

  8. Tables Separate mortality and recovery Sex age at disability (banded) Duration since disability Analysis By region To prior studies With vs. without CPP/QPP benefits 2009 Annual Meeting Assemblée annuelle 2009 2004-8 LTD Termination Study - Deliverables

  9. RFP for Researcher in early 2009 No firm proposals but Fraser/Garand interested Need to achieve “critical mass” of data Some key players have yet to sign on Need to better define study terms to get sign on Study will be revisited 2009 Annual Meeting Assemblée annuelle 2009 2009 LTD Incidence Rate Study

  10. Follow on to 2008 Task Force Report Study of Inflation factors initially RFP for researcher June 2009 Target for completion early 2010 More studies to follow “Hot Topic” with public visibility for Consultants CIA leadership Session IP15 2009 Annual Meeting Assemblée annuelle 2009 Post Retirement Medical Study

  11. Revisit LTD incidence rates More on post-retirement medical Less urgent issues Waiver Falls out of LTD Critical Illness Data availability Group Life Others? 2009 Annual Meeting Assemblée annuelle 2009 Future Studies

  12. Update of existing CIA studies 1998-94 LTD CIA Life waiver Performed by University of Western Ontario Published on CIA website June 2009 2009 Annual Meeting Assemblée annuelle 2009 1988-97 LTD Termination Study

  13. Scope Key Findings Deliverables (Table formats) Analysis Comparisons to existing tables 2009 Annual Meeting Assemblée annuelle 2009 1988-97 LTD StudyOverview

  14. 1988-97 LTD Study 2009 Annual Meeting Assemblée annuelle 2009 • 25 Insurers (95% of market in 1997) • 300,000 claims • 4 million units of exposure • Months for first 36 months • Years thereafter • 43% females • 140,000 terminations • 20,000 deaths • 120,000 recoveries

  15. LTD Exposures by Elimination Period 2009 Annual Meeting Assemblée annuelle 2009

  16. LTD Exposures by Province 2009 Annual Meeting Assemblée annuelle 2009

  17. 1988-97 LTD StudyKey Findings 2009 Annual Meeting Assemblée annuelle 2009 • Quebec different from others • Recoveries and deaths • Recovery rates • No difference by sex • Spike @ end of “own occ” period • Lower in first month on claim • Slight upward trend 1988‑97 • No difference Refund vs. Non Refund • ASO different

  18. Disabled Recovery Tables 2009 Annual Meeting Assemblée annuelle 2009 • All tables unisex • 10 year select period • 5 year age bands • Separate Quebec/Non Quebec tables • Ultimate • All provinces • By attained age • Monthly rates for 36 months, then annual

  19. Disabled Mortality Tables 2009 Annual Meeting Assemblée annuelle 2009 • Sex distinct • 10 year select period • 5 year age bands • Separate Quebec/Non Quebec tables • Ultimate • All provinces • By attained age • Monthly rates for 36 months, then annual

  20. Terminations by Region 2009 Annual Meeting Assemblée annuelle 2009

  21. Terminations by Region 2009 Annual Meeting Assemblée annuelle 2009

  22. Deaths by Region 2009 Annual Meeting Assemblée annuelle 2009

  23. Recoveries by Region 2009 Annual Meeting Assemblée annuelle 2009

  24. Recoveries Improved Over Time 2009 Annual Meeting Assemblée annuelle 2009

  25. No Mortality Trends 2009 Annual Meeting Assemblée annuelle 2009

  26. Termination A:E by Year and Province 2009 Annual Meeting Assemblée annuelle 2009 PQ Ontario

  27. Recovery Rates (All Ages) 2009 Annual Meeting Assemblée annuelle 2009

  28. Recovery Rates (All Ages) 2009 Annual Meeting Assemblée annuelle 2009 PQ Rates much higher initially Experience converges after 3 years

  29. Recovery Non-PQ (All Ages) 2009 Annual Meeting Assemblée annuelle 2009

  30. Recovery Non-PQ (All Ages) 2009 Annual Meeting Assemblée annuelle 2009 Lower recovery rates in first month on claim No differences by sex Spike at end of “own occ” period

  31. Recovery PQ (All Ages) 2009 Annual Meeting Assemblée annuelle 2009

  32. Recovery (Ages 40-44) 2009 Annual Meeting Assemblée annuelle 2009

  33. Recovery (Ages 40-44) 2009 Annual Meeting Assemblée annuelle 2009 PQ much higher initially Experience converges after 3 year

  34. Mortality PQ (All Ages) 2009 Annual Meeting Assemblée annuelle 2009

  35. Mortality Non-PQ (All Ages) 2009 Annual Meeting Assemblée annuelle 2009

  36. Mortality Non-PQ vs. PQ(all ages) 2009 Annual Meeting Assemblée annuelle 2009

  37. Mortality Non-PQ vs. PQ(all ages) 2009 Annual Meeting Assemblée annuelle 2009 PQ higher at 12 months Experience Converges @3 yrs PQ initially lower

  38. 2009 Annual Meeting Assemblée annuelle 2009 Results by Funding Type

  39. 2009 Annual Meeting Assemblée annuelle 2009 Results by Funding Type

  40. 2009 Annual Meeting Assemblée annuelle 2009 Results by Funding Type

  41. Comparison vs. CIA 88-94 2009 Annual Meeting Assemblée annuelle 2009

  42. Comparison vs. CIA 88-94 2009 Annual Meeting Assemblée annuelle 2009

  43. Comparison vs. CIA 88-94 2009 Annual Meeting Assemblée annuelle 2009

  44. Comparison vs. GLTD 2009 Annual Meeting Assemblée annuelle 2009

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