Independent Contractor and Consulting Actuary

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Steven G. Lehmann

Steve Lehmann is a Consulting Actuary with Abacus Actuarial Consulting, LLC, with over 40 years of actuarial experience. His practice includes loss reserving, ratemaking, development of pricing strategies including coordination of underwriting and rating programs, financial examinations, loss reserve opinions, rate filings, residual market studies and rate of return analysis. His skill set includes testifying before numerous regulatory and legislative bodies and before an arbitration panel on a variety of insurance matters including ratemaking, risk classification, agents’ contingent commissions and fair rates of return. He has a strong background in pricing and reserving of insurance products.

Mr. Lehmann, a co-founder of Pinnacle Actuarial Resources, Inc., retired from the firm in 2011, serving as the firm’s President from 2003 – 2008. His association with Pinnacle continues, working as an Independent Contractor from the firm’s Bloomington, Illinois office.

Mr. Lehmann is a Fellow of the Casualty Actuarial Society (FCAS), a Fellow of the Society of Actuaries (FSA), a Member of the American Academy of Actuaries (MAAA) and a Fellow of the Canadian Institute of Actuaries (FCIA). He is a past President of the Casualty Actuarial Society (CAS) and the American Academy of Actuaries (AAA) and has served as Chair of the Boards of both organizations. He has also served as Vice President and Chair of the Casualty Practice Council of the AAA and Chair of the Actuarial Standards Board Ratemaking Subcommittee. He is certified by ARIAS (AIDA Reinsurance and Insurance Arbitration Society) as one of some 400+ certified reinsurance arbitrators in the U.S.

Publications and Media

December 2012 Apex Discussion Series
Florida House Bill 119
Authored by Roosevelt C. Mosley Jr. and Steven G. Lehmann.

Impact Analysis of Florida HB 119
Actuarial Analysis Conducted by Pinnacle Actuarial Resources, Inc.
Authored by LeRoy Boison and Steven G. Lehmann.

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Case Studies

Catastrophic Risks

Catastrophic Risks

Pinnacle was retained by an insurance company specializing in catastrophic risk to identify and test alternative sources of risk financing capacity including traditional reinsurance and catastrophe bonds. In order to complete the project, Pinnacle designed a dynamic financial model to determine the cost/benefit of alternate risk financing strategies.

Competitive Analysis - Personal Lines

Competitive Analysis - Personal Lines

A strong commercial lines company wanted to expand their personal lines writings in the Midwest. They wanted to have a competitive analysis system to track their competitors’ rates and review along with their latest rate change indications. Pinnacle developed a competitive analysis engine showing their competitive position including color-coded maps for a market basket of representative risks.

Florida Department of Financial Services

Florida Department of Financial Services

The Florida Department of Financial Services (DOFS) oversees and administers the runoff of domestic Florida insurance companies in rehabilitation. Typically, when a company's financial condition is perilous, the DOFS obtains court orders to oversee the company’s administration and manage the orderly adjudication of all unpaid claims liabilities.

Measuring the extent of those claims liabilities involves uncertainty as to the number and severity of those claims. Further complicating the issue relates to the attitudes of claimants and their attorneys as regards to settlement of such claims knowing the company itself is under regulatory supervision. 

We assisted the DOFS in a formal way with the runoff of three nonstandard auto writers, all part of a company group. The nature of the exposure was such that the unpaid claims were dominated by bodily injury and property damage liability claims. Our modeling of the anticipated future settlements considered input from company claims representatives, the DOFS itself and the company’s auditors.

At the outset of the assignment, the company’s surplus was impaired significantly. During the process, the DOFS was able to achieve significant concessions on the part of claimants given the uncertain financial condition of the carriers involved. The outcome was when the last claim was paid, the company shell that remained had a positive surplus balance. 

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