Casualty Comments and Letters

Medical Professional Liability Committee letter to the leadership of the U.S. House of Representatives concerning H.R. 5, which would reform the medical professional liability system and repeal the Independent Payment Advisory Board. (March 21, 2012)
Medical Professional Liability Insurance Committee fact sheet on the Death, Disability, and Retirement (DDR) Extended Reporting Endorsement. (February 15, 2012)
Casualty Practice Council comments to the NAIC’s Casualty Actuarial & Statistical Task Force on its proposed 2012 Actuarial Opinion Instructions. (October 10, 2011)
Committee on Property and Liability Financial Reporting comments to the AICPA regarding its working draft of Audit and Accounting Guide Property and Liability Insurance Entities. (August 26, 2011)
Property/Casualty RBC Committee update in response to the NAIC's request for assistance with the Solvency Modernization project on the NAIC's Risk-Based Capital formulas. This update discusses the Committee's progress toward providing recommendations for improving the correlation/covariance methodologies used in the P/C RBC formula. (July 21, 2011)
Flood Insurance Subcommittee letter to the U.S. Senate Banking, Housing & Urban Affairs Committee concerning the actuarial implications of S. 1091, "The Consumer Option for an Alternative System to Allocate Losses (COASTAL) Act." The bill would reauthorize the NFIP for an additional five years and would create a system for allocating losses between wind and water for "slab claims," in which no physical structure remains. (July 11, 2011)
Flood Insurance Subcommittee comment letter to the leadership of the House Financial Services Committee on H.R. 1309, a bill to reform the National Flood Insurance Program. (May 4, 2011)
Casualty Practice Council comments to the Wilmington Regional Association of Realtors request for input on providing a summary of the qualifications it should seek in filling an advisory board position. The association is working with the North Carolina legislature to draft a bill concerning North Carolina property insurance. The bill would, among other things, create an advisory board on which an actuary would sit. (March 9, 2011)
P/C RBC Committee letter to the NAIC's P/C RBC Working Group regarding the Academy's joint report in response to the NAIC's request for assistance with its Solvency Modernization project on its RBC formulas. (February 22, 2011)
Committee on Property & Liability Financial Reporting's report on its recent activities to the NAIC's Casualty Actuarial & Statistical Task Force. (February 1, 2011)
Life, Health, and Property/Casualty RBC committees joint report in response to the NAIC's request for assistance with the Solvency Modernization (SMI) project on the NAIC's Risk-Based Capital (RBC) formulas. The report discusses the intended/expected safety levels for RBC and identifies risks that are missing from the RBC formulas. (January 31, 2011)
P/C Risk-Based Capital Committee response to the NAIC's request on risk-based capital issues. (October 1, 2010)
Casualty Practice Council request for research assistance from the Casualty Actuarial Society in conjunction with its efforts to aid the National Association of Insurance Commissioners with its RBC SMI project. (September 30, 2010)
Terrorism Risk Insurance Subgroup comments to the President's Working Group on Financial Markets in response to its Federal Register request for an analysis of terrorism risk insurance. (August 2, 2010)
Property and Casualty Risk-Based Capital Committee 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. (June 22, 2010)
Property and Casualty Risk-Based Capital 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. (May 18, 2010)
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. (February 12, 2010)
Medical Professional Liability Subcommittee letter to Congress 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. (January 21, 2010)
Medical Professional Liability Insurance Subcommittee tort-reform fact sheet, which is the second in a series of fact sheets published by the subcommittee designed for actuaries as well as the general public. (October 1, 2009)
Casualty Practice Council comments to testimony provided at an NAIC public hearing on the use of credit-based insurance scores. (May 15, 2009)