FCAS, MAAA, CSPA
Senior Consulting Actuary

SAS&reg;<br /> Certified Predictive Modeler<br /> THE POWER TO KNOW&reg;<br />

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Laura A. Maxwell

Laura Maxwell is a Senior Consulting Actuary with Pinnacle Actuarial Resources, Inc. in the San Francisco, California office. She holds a Bachelor of Science degree in Mathematics from Moravian College. She has 30 years of actuarial experience in the property/casualty insurance industry and has provided consulting services since 2003.

Ms. Maxwell currently serves the Casualty Actuarial Society (CAS) as a member of the Examination Committee, member of the Cyber Risk Task Force, member of the Working Party on On-Demand Insurance, Chair of the Webinar Committee and Secretary/Treasurer of the Casualty Actuaries of the Bay Area.

Prior to consulting she was a product manager for a direct auto insurer and held actuarial positions with a state insurance department and national rating bureau. Her background includes personal and commercial lines pricing and reserving.

Publications and Media

December 2017 APEX Webinar
Actuarial Standards of Practice Update
Authored by Laura A. Maxwell and John E. Wade.

July 18 2017 APEX Discussion Series
ORSA: Has Anything Changed?
Authored by Laura A. Maxwell and John E. Wade.

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Case Studies

Funding Study

Funding Study

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

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.

Retention Analysis

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.

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