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.
Extreme Events
Floods, earthquakes, other natural catastrophes; terrorist events; and mass torts.
Medical Professional Liability
Medical professional liability insurance issues.
Risk Classification
Use of risk-based insurance scoring in auto and other insurance lines.
Workers' Compensation
Workers’ compensation issues as they relate to property and casualty actuarial practice.
Financial Reporting and Loss Reserving
Financial reporting and loss reserving issues in property/casualty actuarial practice.
Risk-Based Capital
Risk-based capital issues in property and casualty actuarial practice, including its treatment by the National Association of Insurance Commissioners.
Solvency and Soundness
Soundness and solvency issues facing property and casualty insurance companies.
Casualty News
The Academy’s Senior Property/Casualty Fellow Rich Gibson and Assistant Director for Research (Public Policy) Steve Jackson outlined the Actuaries Climate Index and described the proposed Actuaries Climate Risk Index at a meeting of the Casualty Actuaries of Greater New York.
( )The Cyber Risk Task Force has published a new document, Cyber Risk Insurance: A Resource Guide for Actuaries.
( )The Committee on Property and Liability Financial Reporting sent a comment letter to the NAIC regarding ambiguity in instructions for reporting retroactive reinsurance.
( )The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.
( )The P/C RBC Committee submitted a scope letter to the NAIC P&C Risk-Based Capital (E) Working Group outlining proposed research into various underwriting risk factors in the RBC formula for P/C insurers.
( )The Academy's senior casualty fellow, Rich Gibson, presented testimony on predictive modeling at a hearing on automobile insurance held by the District of Columbia's Department of Insurance, Securities and Banking.
( )The Academy’s senior casualty fellow, Rich Gibson, gave a presentation on the Actuaries Climate Index at Tulane University’s conference on environmental law.
( )Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter to the Casualty Actuarial and Statistical (C) Task Force (CASTF) to the CASTF 's draft qualification and related documentation requirements and copy of a letter to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.
Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter pertaining to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.
( )Academy Senior Property/Casualty Fellow Rich Gibson submitted comments to the NAIC's Casualty Actuarial and Statistical Task Force (CASTF) regarding CASTF’s proposed white paper on Regulatory Review of Predictive Models.
( )The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
( )Academy Past President Mary D. Miller sent comments to the NAIC on CASTF’s draft 3-year experience proposal.
The Casualty Practice Council’s Travel Insurance Task Force published a monograph, Travel Insurance: An Actuarial Perspective, which provides information on the manner in which travel insurance is designed, filed, priced, sold, and serviced. Read the news release.
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Academy Past President Mary D. Miller on Friday submitted a comment letter from the Academy to the NAIC regarding the Casualty Actuarial and Statistical Task Force’s exposure draft related to the three-year experience requirement to sign statutory statements. In those comments Miller shared the Academy’s view that the exposure draft describes an approach that will neither clarify nor improve the current requirement.
( )The Committee on Property and Liability Financial Reporting sent a comment letter to the California Department of Insurance on proposed changes to reporting requirements for large deductibles in workers’ compensation plans.
( )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 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.
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