FCAS, MAAA, CPCU, ARM, ARe
Principal and Consulting Actuary
Florida’s Property Insurance Market
Sep 2, 2016
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Arthur Randolph is a Principal and Consulting Actuary with Pinnacle Actuarial Resources, Inc. managing the firm’s Atlanta, Georgia office. He has been in the insurance industry since 1998 and has been consulting since 2001. Mr. Randolph’s consulting career has focused on medical professional liability, homeowners, workers’ compensation, commercial and personal automobile, general liability, and commercial multi-peril exposures.
Mr. Randolph provides actuarial consulting services to medical professional liability insurers, traditional property and casualty insurers, self-insured hospitals and physician groups, public and private self-insured entities, risk retention groups (RRGs), and captive insurers. His core services include reserving, ratemaking, risk transfer testing, funding allocations among members of risk sharing groups, and developing experience and retrospective rating plans. Mr. Randolph also conducts alternative risk financing feasibility and funding studies (e.g., large deductible plans, self-insurance structures, RRGs, captives) for organizations in both the public and private sectors that face various risk exposures. When clients have become involved in mergers and acquisitions, he has worked with them to seamlessly address all associated actuarial issues.
Mr. Randolph is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. He also holds the following insurance designations: Chartered Property Casualty Underwriter, Associate in Risk Management and Associate in Reinsurance. Mr. Randolph is a member of the AAA Medical Professional Liability Committee and the Alabama Actuarial Council. He is actively involved with Physician Insurers Association of America (PIAA), Florida Chamber of Commerce, National Association of Mutual Insurance Companies (NAMIC), Casualty Actuaries of the Southeast (CASE), Gamma Iota Sigma Insurance Fraternity (GIS), and International Association of Black Actuaries (IABA, Past Director & Treasurer). Mr. Randolph is a past member of the CAS Examination Committee and the CAS Program Planning Committee, and served as President & Director of the IABA Foundation.
October 12 2017 APEX Webinar
State of the Florida Homeowners Market
Authored by Derek W. Freihaut and Arthur R. Randolph II.
June 2017 APEX Discussion Series
Medical Professional Liability: State of the Market in 2017
Authored by Timothy C. Mosler and Arthur R. Randolph II.
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Pinnacle was approached by an aircraft manufacturer to provide recommended funding for various aviation and liability coverages. Pinnacle’s initial steps included discussing coverages to be provided and what data was available to complete the funding study. The captive was a start-up with no loss information on which to determine appropriate funding levels. Pinnacle was able to determine that the National Transportation Safety Board (NTSB) had a database of aircraft incidents that recorded both the manufacturer and model of the aircraft involved in the incident. Since the manufacturer was able to provide the number of units produced, Pinnacle was able to determine the frequency and severity of the incidents and project ultimate funding levels. The captive is currently operational after receiving regulatory approval.
Medical Malpractice Damage Caps
A state insurance regulator asked Pinnacle to determine the potential impact of several proposed tort reforms, including a change to non-economic damage caps for medical professional liability claims. Pinnacle worked with medical society to identify the most appropriate claims databases for assessing the potential legislative change. Our detailed analysis not only considered data from that state, but several others to stress test the results and provide a range of reasonable outcomes. In many cases, the specific reform’s effect, for example “I’m Sorry” legislation, was very difficult to isolate. Through this industry analysis, we identified differences well beyond a simple loss limitation to provide a more complete review of potential environmental changes that could be expected in the state.
This comprehensive analysis helped our client identify the effect of various legislative options, which empowered them to be a strong voice in the legislative debate and to influence policymaking in the state.
Self Insured Dividend / Assessment Analysis
A large group self insurance program was concerned with the amount of retained earnings and wanted to establish a policy for the minimum capital for the program to trigger dividend distributions. Pinnacle compared the program’s capitalization to a wide variety of industry standards for similar programs from rating agencies, regulators, and other sources. The results of this analysis lead to a recommended board policy regarding a minimum capital threshold for dividend distributions and ultimately to the development of an actuarially sound dividend distribution plan.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
March 19, 2018
CAS Ratemaking, Product and Modeling Seminar
March 19, 2018
CSIA's Annual Meeting and Educational Conference
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Pinnacle is an actuarial firm focused on property/casualty insurance, including alternative markets, captives, self insureds, enterprise risk management, predictive analytics, commercial lines and more. We serve trucking, insurance, health care, medical professional liability, reinsurance, workers compensation, public entities and other companies and concerns.
Our services include expert witness, loss reserving, litigation support, pricing, ratemaking, rate filing, statements of actuarial opinion, feasibility studies, capital modeling and other actuarial services and products.
Phone: (309) 807-2300
Fax: (309) 807-2301
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