Risk-Based Capital

Risk-based capital issues in property and casualty actuarial practice, including its treatment by the National Association of Insurance Commissioners.

Discussion Draft of Joint P/C Health Report on Bond Factors
Joint P&C/Health Bond Factors Analysis Work Group discussion draft of a report to the NAIC’s Joint Health RBC and P/C RBC Drafting Group on bond factors.
(January 31, 2018)
Comments on Investment RBC Bond Factors
Comment letter submitted jointly by the P/C RBC Committee and the Health Solvency Subcommittee regarding changes to corporate bond factors being considered by the NAIC’s Investment Risk-Based Capital Working Group. (July 25, 2017)
P/C and Health Group Comments on Operational Risk Factor
Joint Property and Casualty Risk-Based Capital Committee and Health Solvency Subcommittee letter to the NAIC's Operational Risk Subgroup on proposed changes to the operational risk factor in risk-based capital (RBC) formulas for property/casualty and health. (December 19, 2016)
Report to NAIC on P/C RBC Underwriting Factors
Property and Casualty Risk-Based Capital Committee report to the NAIC's Property/Casualty Risk-Based Capital (E) Working Group providing a detailed update of property and casualty risk-based capital underwriting factors. (October 28, 2016)
Solvency Committee Comments on Investment RBC on NAIC's 'Way Forward'
Solvency Committee comments to the NAIC's Investment Risk-Based Capital (E) Working Group on its "Way Forward" exposure document. (May 19, 2016)
Comments to NAIC on Bond Risk Factors in RBC Formula
P/C Risk-Based Capital Committee comments to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula. (November 10, 2015)
Comments to NAIC on Calculating R6, R7 Catastrophe Risks
Catastrophe Risk Subcommittee of the P/C Risk-Based Capital (RBC) Committee 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)
Comments to NAIC on Revised Form PR026
RBC Catastrophe Risk Subcommittee comments to NAIC’s Catastrophe Risk (E) Subgroup on revised Form PR026 for the 2015 reporting year. (May 22, 2015)
Academy Comments to NAIC on Operational Risk
Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues. (January 7, 2015)
Comments to NAIC on RAA’s Updated Proposal on Reinsurance Credit Risk
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's (RAA) updated proposal on reinsurance credit risk factors. (October 1, 2014)
Comments to NAIC on Reinsurance Credit Risk Updated Proposal
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's updated proposal on credit risk factors. (May 12, 2014)
Academy Letter to NAIC on Operational Risk Proposal
Letter from Academy RBC work groups to the NAIC SMI RBC Subgroup regarding the NAIC’s Dec. 9 Operational Risk Proposal. (January 30, 2014)
Presentation on P/C Underwriting Risk Charges at NAIC Meeting
Casualty Practice Council presentation by Academy Vice President Mike Angelina to the NAIC’s P/C Risk-Based Capital Working Group on underwriting risk charges in NAIC P/C risk-based capital. (December 15, 2013)
Comments to NAIC on Reinsurance Credit Risk Proposal
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's discussion draft on reinsurance credit risk. (October 8, 2013)
Committee Report on Reinsurance Credit Risk Charge in NAIC P/C RBC
Property/Casualty Risk-Based Capital Committee 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)
P/C RBC Committee Report on International Methodologies of Risk Correlation
P/C Risk-Based Capital Committee report to the NAIC's Solvency Modernization Initiative RBC Subgroup on risk correlation methodologies used to determine regulatory solvency capital requirements in advanced jurisdictions outside the U.S. (November 15, 2012)
Casualty Practice Council Comments on Proposed Changes to the RBC Formula to Incorporate Catastrophe Risk
Casualty Practice Council Comments to the NAIC's Catastrophe Risk Subgroup on its proposed changes to the Risk-Based Capital formula spreadsheets to incorporate property catastrophe risk. (October 29, 2012)
Letter to SMI RBC Subgroup on CAS Working Party Activity
P/C Risk-Based Capital Committee letter to Solvency Modernization Initiative RBC Subgroup concerning CAS Working Party research on potential improvements to the NAIC's P/C RBC framework. (July 10, 2012)
P/C RBC Committee Letter on SMI Project
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)
Letter to NAIC's P/C Risk-Based Capital Working Group on RBC SMI Project
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)