Casualty News

Casualty VP Mike Angelina presented the NAIC’s Casualty Actuarial & Statistical Task Force at the NAIC’s National Summer Meeting with a summary of the Casualty Practice Council’s application process for non-CAS members to sign NAIC P/C Opinions. (August 24, 2013)
Casualty VP Mike Angelina presented an actuarial perspective on the future of the National Flood Insurance Program following the 2012 passage of the Biggert-Waters Flood Insurance Reform Act to state legislators at the National Conference of Insurance Legislators Summer Meeting. (July 11, 2013)
The Extreme Events Committee submitted comments to the Federal Insurance Office on the current state of the market for natural catastrophe insurance. (June 24, 2013)
The CAS Climate Change Committee has issued a call for essays discussing the impact of climate change on the insurance industry. This follows the committee’s Climate Index Working Group’s (CIWG) release of its Phase 1 report, Determining the Impact of Climate Change on Insurance Risk and the Global Community. The CIWG is a collaborative endeavor comprised of representatives from the Academy, the CAS, the Canadian Institute of Actuaries, and the SOA. Essays are due July 17 and are expected to be published later this year. Click here to learn more and how to submit your essay. (June 7, 2013)
The Committee on Property & Liability Financial Reporting submitted comments on the proposed final regulations governing California’s workers’ compensation self-insurance plans. (June 7, 2013)
The Casualty Practice Council sent a comment letter to the Bank for International Settlements on its consultative document on mortgage insurance. (May 3, 2013)
The Casualty Practice Council, represented by Chairperson Mike Angelina, presented an actuarial perspective on insurance for acts of terrorism at the NAIC's Center for Insurance Policy and Research Brunch. (April 9, 2013)
The Property/Casualty Risk-Based Capital Committee provided a report to the NAIC’s Property/Casualty Risk-Based Capital Working Group on the reinsurance credit risk charge in NAIC Property/Casualty Risk-Based Capital. (March 29, 2013)
The Casualty, Health, Life, and Professionalism Councils sent comments to the NAIC’s Joint Qualified Actuary (A/B/C) Subgroup in response to its request for comments to a list of nine questions in anticipation of the Subgroup’s meeting at the NAIC Spring National Meeting on April 5, 2013. (March 28, 2013)
The Committee on Property & Liability Financial Reporting provided a comment letter to the NAIC’s Blanks Working Group on its proposed changes to move all force-placed or lender-placed business from the current line to the write-in line of Schedule P.  (March 7, 2013)
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)
The P/C RBC Committee provided a report to the NAIC's SMI RBC Subgroup on risk correlation methodologies used to determine regulatory solvency capital requirements in advanced jurisdictions outside the U.S. (November 15, 2012)
The Casualty Actuarial Society (CAS), Canadian Institute of Actuaries, Society of Actuaries, and the American Academy of Actuaries’ Property/Casualty Extreme Events Committee, with input from the CAS’s Climate Index Working Group, have published a report, “Determining the Impact of Climate Change on Insurance Risk and the Global Community,” responding to the emerging risk of climate change by collaborating to recommend, support, and perform research on climate change and assess the potential risk management implications for the insurance industry.  (October 31, 2012)
The Casualty Practice Council provided an actuarial perspective on the NAIC Catastrophe Risk Subgroup's recent proposed changes to the Risk-Based Capital formula spreadsheets to incorporate property catastrophe risk.
(October 29, 2012)
The Casualty, Life, Health, Professionalism, and Financial Reporting Councils submitted comments to the NAIC’s Corporate Governance Working Group concerning the WG’s Proposed Responses to a Comparative Analysis of Existing U.S. Corporate Governance Requirements. (September 28, 2012)
The agenda for this Nov. 7–8 seminar includes new breakout sessions and hands-on workshops led by experienced faculty members who will guide you through the requirements and recent changes to those requirements for writing P/C loss reserve opinions for year-end 2012. (September 24, 2012)