FCAS, MAAA, CSPA
Director and Consulting Actuary
California Homeowners Insurance – Availability and Affordability as Wildfires Burn
Jan 7, 2021
Pandemic and Apocalyptic Skies – 2020 in the Bay Area
Oct 13, 2020
Autonomous Vehicles and the Future of Auto Insurance
Mar 27, 2018
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Laura Maxwell is a director and consulting actuary with Pinnacle Actuarial Resources in the firm’s San Francisco, California office. She holds a bachelor’s degree in mathematics from Moravian College. She has worked in the property/casualty insurance industry since 1987 and has provided consulting services since 2003.
Ms. Maxwell currently serves the Casualty Actuarial Society (CAS) as a member of the Casualty Loss Reserve Seminar Planning Committee, E-Forum Committee, and syllabus part vice chair of the Syllabus and Examination Committee. She is a member of the American Academy of Actuaries (AAA) Cyber Risk Task Force and a member of the Actuarial Science Advisory Board at the University of the Pacific.
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.
Pinnacle Promotes Laura Maxwell and Jordan Paszek
Authored by Laura A. Maxwell and Jordan R. Paszek.
December 17 2020 APEX Webinar
Actuarial Standards of Practice: Modeling and Assumptions
Authored by Laura A. Maxwell and Kendra Letang and Radost Roumenova Wenman.
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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.
Optimization of Assets and Liabilities
An international insurance and reinsurance company wanted to design an optimization model to be used for both asset and liability decisions. Pinnacle actuaries were able to demonstrate to company management that their initial approach was both practically and theoretically unsound and prevented them from implementing a flawed decision making procedure. We were also able to suggest approaches that were more sound and would allow them to design a model that performed as desired.
U S Domestic Statement of Actuarial Opinion
Domestic U.S. property/casualty insurers and risk retention groups are required to file an Annual Statement with state regulators each year by March 1. Part of that filing includes the submission of a formal Statement of Actuarial Opinion (SAO) by a qualified Appointed Actuary as to the reasonableness of held loss and loss adjustment expense reserves. The SAO must be one of five types:
In addition to the SAO, most jurisdictions require an Actuarial Opinion Summary (AOS) providing more detail on the Appointed Actuary’s specific findings by March 15. Lastly, a formal report narrative in support of the SAO and AOS is required to be available by May 1.
As the SAO is a compliance document, the primary audience is state regulators but the individual company must arrange for the service to be provided.
A recent SAO for one of our clients touched on many of the required disclosures:
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
March 15, 2021
CAS Ratemaking, Product and Modeling (RPM) Seminar
March 18, 2021
March APEX Webinar -
Reinsurance 101 in 2021