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. The CPC also reviews applications of members who are not members of the CAS who wish to sign NAIC P/C Annual Statement Loss Reserve Opinions; more information is available here.

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 Academy published a new Essential Elements paper, Tax Treatment of Pensions and Insurance Protections, highlighting select tax treatments of pensions and insurance protections, and outlining the potential public policy trade-offs of changes to the tax code. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(November 13, 2017)
The Casualty Practice Council sent a letter to the U.S. House of Representatives providing comments on pending legislation to reauthorize and revise the National Flood Insurance Program. Read the news release.  (November 8, 2017)
The Committee on Property and Liability Financial Reporting sent a comment letter to the NAIC's Actuarial Opinion Working Group on the possible effects of recent life insurance Valuation Manual changes on Statements of Actuarial Opinion of P/C insurers whose reports include accident and health (A&H) or long-term care (LTC) lines of business. (October 18, 2017)
The Committee on Property and Liability Financial Reporting submitted a comment letter to the NAIC’s Statutory Accounting Working Group, expressing concerns over a proposed new definition of reinsurance risk transfer in SSAP No. 62R: Property and Casualty Reinsurance. The letter says that the proposal needs further study and evaluation. (October 4, 2017)
The Casualty Practice Council sent a letter to members of the U.S. House of Representatives urging reauthorization and reform of the National Flood Insurance Program. (August 30, 2017)

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

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.