Casualty News

The Auto Insurance Committee submitted comments to the Federal Insurance Office (FIO) on proposed methods to monitor the affordability of auto insurance. (August 31, 2015)
The Financial Reporting Committee, Pension Accounting Committee, Casualty Committee on Property and Liability Financial Reporting, Health Financial Reporting and Solvency Committee, and Life Financial Reporting Committee sent comments to the Public Company Accounting Oversight Board (PCAOB) on its “The Auditor's Use of the Work of Specialists” consultation paper. (July 31, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) providing input on the recommendations section of its “Price Optimization White Paper.” (July 31, 2015)
The Terrorism Risk Insurance Subcommittee submitted a comment letter to the NAIC’s Blanks Working Group on its terrorism risk insurance supplement and instructions draft. (July 30, 2015)
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Council sent comments to the National Association of Insurance Commissioners (NAIC) on its Financial Condition (E) Committee questionnaire that examines the reasons for single-state solutions to help regulators develop a process for creating a uniform framework for state-based regulation. (July 27, 2015)
Two Academy representatives addressed state officials at the National Conference of Insurance Legislators (NCOIL) Summer Meeting. Shawna Ackerman, vice president for casualty, presented on price optimization during a special Property-Casualty Committee meeting. Academy Senior Life Fellow Nancy Bennett discussed principle-based reserving (PBR) at a Life Insurance & Financial Planning Committee panel discussion at NCOIL’s meeting. (July 17, 2015)
The Terrorism Risk Insurance Subcommittee submitted a comment letter to the NAIC on its “Terrorism Risk Insurance Supplement and Instructions” draft. (July 6, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) on the second exposure of its “Price Optimization White Paper.” (July 2, 2015)
The Academy submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force on its review of the Society of Actuaries’ (SOA) general insurance track request. (June 29, 2015)
The District of Columbia is seeking a senior property and casualty actuary to provide actuarial analysis of reserving matters for the review of financial solvency for insurance companies domiciled in the District. (June 15, 2015)
The Catastrophe Risk Subcommittee of the P/C Risk-Based Capital (RBC) Committee submitted comments to the NAIC’s Catastrophe Risk Subgroup on the proposal to revise the calculation of catastrophe risks R6 and R7 for the 2015 reporting year. (June 12, 2015)
The RBC Catastrophe Risk Subcommittee submitted a comment letter to the NAIC’s Catastrophe Risk (E) Subgroup on revised Form PR026 for the 2015 reporting year. (May 22, 2015)
The Price Optimization Task Force submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force (CASTF) on its Price Optimization White Paper.
(April 15, 2015)
The Casualty Practice Council submitted a letter to the NAIC’s Casualty Actuarial and Statistical Task Force on the CPC’s process for approving member actuaries to sign P/C NAIC opinions. (April 9, 2015)
Academy President Mary D. Miller presented “Risks to Property and Casualty Insurers” at the NAIC’s Center for Insurance Policy and Research (CIPR) event on pandemics. (March 27, 2015)
The Terrorism Risk Insurance Subcommittee of the Casualty Practice Council sent a comment letter to the Federal Insurance Office of the Department of the Treasury regarding the process by which terrorist events are certified for purposes of triggering the Terrorism Risk Insurance Program (as recently amended). (March 6, 2015)
The Casualty Practice Council submitted comments to the Actuarial Standards Board on an exposure draft of a proposed Actuarial Standard of Practice (ASOP) on modeling. (March 4, 2015)
The Casualty Practice Council submitted comments on the Casualty Actuarial Society’s statement of principles on P&C ratemaking exposure draft. (January 31, 2015)
The Casualty Practice Council submitted comments to the Actuarial Standards Board on an exposure draft of a proposed Actuarial Standard of Practice on Property/Casualty Ratemaking. (January 31, 2015)
The Academy published a new Essential Elements paper, Climate Change, on the increased losses borne by businesses, homeowners, and insurers caused by hurricanes, severe storms, tornadoes, and other weather-related events. The Essential Elements series is designed to make actuarial analyses of public-policy issues clearer to general audiences. (January 29, 2015)