Casualty

The Casualty Practice Council (CPC) provides objective technical expertise to policymakers and regulators on major property/casualty issues, including medical professional liability and flood insurance.

Extreme Events
Floods, earthquakes, other natural catastrophes; terrorist events; and mass torts.
Financial Reporting and Loss Reserving
Financial reporting and loss reserving issues in property/casualty actuarial practice.
Medical Professional Liability
Medical professional liability insurance issues.
Risk-Based Capital
Risk-based capital issues in property and casualty actuarial practice, including its treatment by the National Association of Insurance Commissioners.
Risk Classification
Use of risk-based insurance scoring in auto and other insurance lines.
Solvency and Soundness
Soundness and solvency issues facing property and casualty insurance companies.
Workers' Compensation
Workers’ compensation issues as they relate to property and casualty actuarial practice.
More Casualty Issues

Casualty News

The Casualty, Life, Health, and Professionalism councils submitted comments to the NAIC's Joint Qualified Actuary (A/B/C) Subgroup on the subgroup's two new charges related to defining a "qualified actuary" and recommending a process to address "unprofessional" actuarial work. (February 11, 2013)
Join the Academy and the Casualty Actuarial Society on Feb. 14 for this timely webinar on key considerations related to the risk of material adverse deviation (RMAD) disclosure required of appointed actuaries providing statements of actuarial opinion on property/casualty loss and loss adjustment expense reserves in the United States. Attendees will learn why RMAD disclosure exists and how to establish a materiality standard, evaluate whether there is an RMAD, and document their findings. Register today! (February 1, 2013)
The 2012 Property/Casualty Loss Reserve Law Manual is now available. The manual is designed to help appointed actuaries comply with the NAIC requirements for statements of actuarial opinion. Learn what's new and order your copy today! (January 15, 2013)
The Committee on Property and Liability Financial Reporting released its 2012 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. (December 17, 2012)
COPLFR provided a comment letter to the NAIC's Casualty Actuarial & Statistical Task Force on the Statutory Accounting Principles Working Group's proposed changes to SSAP 65. (November 16, 2012)

Casualty Public Statements

Comments and letters

Comments, analyses, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.

Issue briefs

Analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public.

Policy papers

Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public. Includes monographs and white papers.

Presentations

Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.

Reports to the NAIC

The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of the casualty practice councils.

Testimony

Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.

Practice Notes

Practice notes

Generally written in a Q&A format, practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.