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Captive Formation: An Actuary's Point of View
Derek Freihaut May 13, 2021 Posted in: Blog Posts, Captives, News

What are the most important considerations for a company when starting a captive? On April 28, I participated in a roundtable discussion hosted by Captive Review, conferring with other experts in captive formation about planning a successful captive. From an actuarial point of view, communication is key. Not only should all projections be documented, but all details, analyses, methods and other important communications must be clear and understandable. Insurance and actuarial reports are not always intuitive for new captive owners, so comprehensible communication of financial considerations to captive owners is paramount.

To Gladly Persevere: Pinnacle University 2021
Multiple May 07, 2021 Posted in: Blog Posts, General, Community Involvement

At least two things came to fruition from the 1960s science fiction TV shows many of us watched as children. First, as the title of this blog suggests, it is now acceptable to split an infinitive (that is, insert an adverb between the word “to” and the verb). Second, although we still don’t have flying cars, it is possible to conduct meetings and converse with people miles away while looking at a screen. This came in quite handy as we planned our 2021 Pinnacle University program.

The Impact of COVID-19 on Statutes of Limitations
One of the jarring results of the COVID-19 pandemic has been disruption to the rhythm of our daily lives. Routines, regular activities and traditions have all changed as the result of imposed restrictions, personal safety choices and a mixture of both. In the insurance industry, actuaries and other professionals who rely on patterns such as claim reporting lags and loss development factors are now working to understand how emergency declarations, temporary court closures and changes in insured behavior have impacted these patterns. In this blog, I’ll highlight specifically how changes to statutes of limitations because of the COVID-19 pandemic may affect reporting of medical professional liability claims.
Managing the Switch to Computer-Based Testing (CBT) for CAS Exams
Matthew Meade January 18, 2021 Posted in: News
In July 2020, the Casualty Actuarial Society (CAS) announced that all actuarial exams for their fall exam “sitting” would be administered through computer-based testing (CBT) rather than their traditional pencil-and-paper format. CAS exams are required to become certified practitioners in the actuarial profession. Although multiple-choice CAS exams, MAS-I and MAS-II, were set to be delivered via CBT as part of a long-term goal to transition all exams to the format by the end of 2022, this announcement expanded the program to include exams 5-9. The CAS cited concerns for the safety of all those involved in the testing process amidst the ongoing global coronavirus pandemic as the primary driver for the decision. The organization had canceled all exams in the spring 2020 sitting.
California Homeowners Insurance – Availability and Affordability as Wildfires Burn
As of November 2020, there were 9,279 wildfires in California. These incidents were responsible for 4.2 million acres burned, 31 fatalities and over 10,000 structures damaged or destroyed. According to Cal Fire, significant fire potential remained above normal across Southern California through December. Even before the devastating year, the California Department of Insurance (CDI) was researching the availability and affordability of wildfire coverage. One step in increasing availability was ordering the California FAIR Plan to provide a comprehensive policy in addition to its fire-only coverage by June 1, 2020. 
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