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.
Financial reporting and loss reserving issues in property/casualty actuarial practice.
Automobile Insurance Committee comments to the U.S. Department of the Treasury and Federal Insurance Office (FIO) request for information (RFI) relating to regarding FIO's future work relating to monitoring the availability and affordability of automobile (auto) insurance.( )
The Committee on Property and Liability Financial Reporting (COPLFR) sent a comment letter to the National Association of Insurance Commissioners (NAIC) Casualty Actuarial and Statistical (C) Task Force on proposed changes to P/C annual statements. The letter addresses such areas as definition of exposure, calendar date alignment, and existing alternative data sources.( )
The Committee on Property and Liability Financial Reporting (COPLFR) sent a comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed changes to P/C annual statements. The letter addresses such areas as definition of exposure, calendar date alignment, and existing alternative data sources.( )
The Climate-Related Financial Disclosures Work Group and the Actuaries Climate Index/Actuaries Climate Risk Index Work Group submitted comments to the New York State Department of Financial Services on financial risks related to climate change.( )
The Climate-Related Financial Disclosures Work Group and the Actuaries Climate Index/Actuaries Climate Risk Index Work Group jointly submitted comments to the Securities and Exchange Commission’s request for public input on climate change disclosures.( )
Academy President Tom Campbell submitted a letter to the NAIC Special Committee on Race and Insurance on proposed charges regarding P/C and life insurance issues related to Workstream Three (property/casualty) and Workstream Four (life insurance and annuities).( )
David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on P/C RBC underwriting factors experience to the NAIC's P/C RBC (E) Work Group.( )
The Automobile Insurance Committee released an issue brief on the development of consumer pricing for automobile insurance.( )
The Academy's Casualty Practice Council submitted comments to the Actuarial Standards Board regarding the setting assumptions actuarial standard of practice (ASOP).( )
The Casualty Practice Council submitted a comment letter on Colorado Senate Bill 21-169 which is aimed to protect consumers from unfair discrimination in insurance practices. The comments addressed potential concerns of the legislation’s impact on casualty insurance.( )
The Automobile Insurance Committee released an issue brief on automobile insurance considerations arising from the COVID-19 pandemic.( )
Senior Casualty Fellow Rich Gibson presented at the Midwest Actuarial Forum’s Virtual Spring Meeting Webinar, giving an overview of recent property/casualty public policy developments.( )
The Academy’s Property and Casualty Risk-Based Capital Committee issued a report to the National Association of Insurance Commissioners’ (NAIC) Property and Casualty Risk-Based Capital (E) Working Group in which it presents indicated Line of Business Underwriting Risk Factors for the P&C RBC Formula.( )
The Academy made three presentations to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) webinar as part of CASTF’s “Book Club” series to facilitate regulator training and the sharing of expertise on predictive analytics on the topic of race and insurance. Academy presenters were Dorothy Andrews, chairperson of the Data Science and Analytics Committee (DSAC); Roosevelt Mosley, DSAC member and member of the Casualty Practice Council’s (CPC) Racial Equity Task Force; and Lauren Cavanaugh, CPC vice president.( )
The Academy’s Cyber Risk Task Force sent a letter offering its assistance in relation to the challenges and opportunities present in the current system of regulating and overseeing responses to cyber breaches of personally identifiable information along with a copy of its report, Cyber Breach Reporting Requirements: An Analysis of Laws Across the United States, to Treasury Secretary Janet Yellen and the directors (or acting directors) of the Office of Terrorist Financing and Financial Crimes; the Federal Insurance Office; the Office of Domestic Finance; and the Consumer Financial Protection Bureau.( )
Casualty Public Statements
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.
Analyses of major actuarial or public policy issues written primarily for policy-makers, regulators, the news media, and the public.
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.
Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.
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.
Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.
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.