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Casualty news

Gary Josephson The Academy's Casualty Practice Council provides objective technical expertise to policy-makers and regulators on major property-casualty issues, including medical liability and asbestos litigation.

The council is led by Gary Josephson, the Academy's vice president for casualty issues.

Additional follow-up comments to NAIC on updated property/casualty RBC underwriting factors

The Academy provides an additional update to the National Association of Insurance Commissioners (NAIC)'s Property & Casualty Risk-Based Capital Working Group regarding the RBC Committee's prior March 2010 update of the property/casualty RBC underwriting factors.

DTA Bridge Group Report

The Academy's DTA Bridge Group submits a requested interim report to the NAIC Capital Adequacy Task Force showing the appropriate treatment of the Deferred Tax Asset (DTA) in the Risk-Based Capital formulas for Life, Property / Casualty (P&C), and Health.

Comments to Congress on oil spill legislation

On June 9, the Casualty Practice Council sent the Senate Environment and Public Works Committee written testimony for a hearing on the proposed bill S. 3305, the "Big Oil Bailout Prevention Liability Act of 2010," and raising the statutory limit of liability of some entities that are responsible for oil spills from $75 million to $10 billion.

Comments to NAIC on updated property/casualty RBC underwriting factors

The Academy provides follow-up comments to the National Association of Insurance Commissioners (NAIC)'s Property Risk-Based Capital Working Group regarding the Committee's March 2010 update of the property/casualty RBC underwriting factors.

Letters to policymakers on legislation to repeal an antitrust exemption for medical professional liability insurers

The Academy's Medical Professional Liability Subcommittee writes to congressional leaders discussing concerns with the inclusion of a provision that would repeal the McCarran-Ferguson Act, an antitrust exemption for health and medical professional liability insurance, within the House's Affordable Health Care for America Act.

Additionally, the Academy provided comments to the House on the legislation focusing on the risks insured under a variety of types of property/casualty insurance policies, including not only medical professional liability policies but also motor vehicle, workers' compensation, and property insurance policies.

Comments to California Commission on Health and Safety and Workers' Compensation

The Academy's Workers' Compensation Subcommittee comments on the California Commission on Health and Safety and Workers' Compensation investigation of relationships between workers'compensation and group health care.

Updated practice note on loss reserve opinions

Just off the press: The newly updated Academy practice note about statements of actuarial opinion on p/c loss reserves.

P/C annual manual update

You may now order the forthcoming new edition of the Property/Casualty Loss Reserve Law Manual online. The Academy updates the manual every yar.

Letter to the House of Representatives

The Academy's Medical Professional Liability Insurance Subcommittee writes to Speaker Nancy Pelosi regarding "The Affordable Health Care for America Act" and its possible effects on medical professional liability insurance.

Actuarial perspective on medical professional liability reforms

The Academy's Medical Professional Liability Insurance Subcommittee publishes a tort reform fact sheet. This is the second in a series of fact sheets published by the subommittee designed for actuaries as well as the general public.

Comments to NAIC on property/casualty RBC formula

The Academy provides comments to the National Association of Insurance Commissioners (NAIC) identifing potential improvements to the property/casualty RBC formula.

Online calendars

Calendars of potential interest to casualty actuaries include:

Actuarial CE calendar
Academy calendar of events

Qualification reviews for signing opinions

If you're an Academy member who doesn't belong to the CAS and you need approval to sign a casualty loss reserve opinion, you may ask the Casualty Practice Council to review your qualifications.

Read about the application procedure.
Get info on the usual timeline for reviews.