Government Insurers

Pinnacle understands a critical fact for government insurers: unlike private insurance, your program must provide sound financial protection and cannot fail. Further, the ability to set appropriate loss reserve levels for very long tail lines and/or significant catastrophic loss potential is key to your program’s financial stability and may be subject to governmental intervention. At the same time, legislative costing efforts are often incredibly important, as misestimating a law’s impact can affect a program for decades.

That’s why our team of experienced consultants focuses on the unique requirement of your specific industry. We have specific expertise in programs that protect the public welfare, such as programs for infants with birth-related injuries or petroleum storage tank pollution coverage. As well, we understand programs that provide individuals with personal protection, like mine subsidence or wind coverage on a residence, or insurance of last resort for personal auto insurance coverage. We also serve workers compensation and medical professional liability programs protecting injured workers and patients, as well as the businesses and health care providers involved.

Whether you need to set up a new program, require assistance to maintain your existing program, want to evaluate your program’s long-term viability or desire to assess how a new law will impact your program, we can help you understand the challenges you face and find the right solutions for your needs.

We have specific line of business expertise with government insurers in many property and casualty lines, including:

  • Crop insurance
  • Homeowners, including wind-only and earthquake coverages
  • Medical professional liability
  • Mine subsidence
  • Personal auto
  • Underground storage tanks

Publications and Media

Case Studies

Dedicated Fund Review
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Dedicated Fund Review

Pinnacle was asked by a State Insurance Department to review the financial soundness of a State controlled, dedicated fund. The review consisted of establishing the State’s outstanding liabilities and future funding needs. Detailed historic exposure and loss experience were not readily available from the State because the program was administered by individual insurers. Pinnacle designed and conducted an industry data call on behalf of the State. The collected data was then used by Pinnacle in support of their analysis. As the data was still somewhat limited, additional industry data was gathered from other states to supplement Pinnacle’s analysis. Pinnacle then provided the State with a report detailing the determination of the estimated liabilities, the indicated rate changes, and recommendations on data capturing for enhancement on future studies.

Low Cost Auto
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Low Cost Auto

Pinnacle was retained by an industry trade organization to provide an independent review of the proposed costing of a new private passenger auto insurance program for low income insureds. The project included working in an open session with legislators and public members to arrive at a workable rate and classification plan for the new program.

Medical Malpractice PCF
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Medical Malpractice PCF

Pinnacle has developed an excellent working knowledge of patient compensation and birth-related injury funds in many jurisdictions, including Florida, Indiana, New Mexico, Ohio, Virginia, and Wisconsin. In several of these states, we not only complete regular rate indications and loss reserve analyses, we are frequently involved in legislative costing of proposed laws that may impact the fund. These proposed laws have included addition, modification and removal of damage caps, changes to primary coverage limits, revisions to program eligibility or mandatory coverage requirements, and program benefits changes. In all of these states, policymakers have benefitted from Pinnacle’s expert analysis, understandable reports and insightful advice.

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