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

Past Academy President Mary D. Miller submitted a letter from the Academy to the NAIC responding to an exposure draft that the Casualty Actuarial and Statistical Task Force has issued containing potential changes to the P/C Statement of Actuarial Opinion Instructions to address the CASTF’s “Attestation” charge.
(May 11, 2018)
Senior Casualty Fellow Kevin Ryan sent a comment letter to the International Association of Insurance Supervisors on their draft paper on climate change risks to the insurance sector. (April 27, 2018)
The Committee on Property and Liability Financial Reporting released a practice note on retained P/C insurance-related risk. (April 24, 2018)
Craig Hanna, director of public policy, presented to the NAIC's Climate Change and Global Warming (C) Working Group on the Actuaries Climate Index and the Actuaries Climate Risk Index.
(March 24, 2018)
The Workers’ Compensation Committee provided comments to the NAIC’s Workers’ Compensation Task Force, describing the difficulty of comparing rates from one state to another. (March 16, 2018)

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.