FCAS, MAAA Senior Consulting Actuary
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Pierogis and Palaces Jan 9, 2018
Tomorrow's Leaders Are Among Us May 3, 2017
The Value of University Partnerships Jan 18, 2017
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Considerations for MPL Reserves Inside Medical Liability Authored by Erich A. Brandt and Gregory W. Fears, Jr..
July 2018 APEX Webinar Causes for Recent Adverse Development Authored by Erich A. Brandt and Gregory W. Fears, Jr..
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Cayman Captive
Pinnacle serves many of the largest group captives in the world, many of them domiciled in the Cayman Islands. These reserve analyses are typically produced twice a year and serve multiple purposes. First, they provide a range of reasonable estimates which management uses to determine their best estimate of ultimate losses and unpaid claims liabilities. Second, these reserve estimates can then be allocated to individual members to determine the outstanding liabilities and potential future assessments, if any. Finally, the allocated ultimate losses become the basis for renewal pricing estimates for each member. Pinnacle’s approach to estimating and allocating reserves in group captives is unique in the industry and sets our alternative practice apart with its efficiency and accuracy.
Retention Analysis
Pinnacle was asked by a large self-insured regional transportation authority to assess the impact of increasing their self-insured retentions for both workers compensation and automobile liability. We developed a stochastic simulation analysis, based on the program’s historical claims experience and industry benchmarks, that examined not only the increase in expected losses but the program’s additional potential loss variability. Finally, we discussed with the customer the relationship between their current capital position, as well as the current reinsurance market, to ensure the retention they selected for their program was appropriate for them. The authority ultimately increased their retentions, put some of their excess capital to work, and realized substantial savings in their reinsurance costs.
Workers' Compensation
Pinnacle was retained by a major national political organization to investigate the impact of several workers compensation reforms including: implementation of mandatory managed care, privatization of state workers compensation insurance funds and the permitting of private insurers to enter previously monopolistic workers compensation states. Our analysis looked at state-level differences in rate levels, insurer experience, coverage competition, the mix of medical and indemnity claims and numerous other metrics. The study was extremely well received and ultimately presented to more than half of the nation’s governors.
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December 18, 2018 December Apex Discussion Series - Actuarial Standards of Practice (ASOP) Disclosures: A Professionalism Quiz Register