FCAS, MAAA, CPCU, ARM, ARe
Principal and Consulting Actuary

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Arthur R. Randolph II

Arthur Randolph is a principal and consulting actuary with Pinnacle Actuarial Resources, managing the firm’s Atlanta, Georgia, office. He has been in the insurance industry since 1998 and has been consulting since 2001. Mr. Randolph’s consulting career has focused on medical professional liability (MPL), homeowners, workers’ compensation (WC), commercial and personal automobile, general liability and commercial multiple peril exposures. 

Mr. Randolph provides actuarial consulting services to property and casualty (re)insurers, self-insured entities, risk retention groups (RRGs) and captive insurers. His core services include reserving, ratemaking, risk transfer testing, funding allocations, and developing experience and retrospective rating plans.

Mr. Randolph is a member of the American Academy of Actuaries (AAA) Medical Professional Liability Committee, the AAA Workers’ Compensation Committee and the Alabama Actuarial Council. He is actively involved with Association of Government Risk Pools (AGRiP), California Association of Joint Powers Authorities (CAJPA), Captive Insurance Companies Association (CICA), CPCU Society, Florida Chamber of Commerce, Insurance Accounting and Systems Association (IASA), International Association of Black Actuaries (IABA) and MPL Association.

Publications and Media

November 2020 APEX Webinar
State of the Florida Homeowners Market
Authored by Derek W. Freihaut and Arthur R. Randolph II.

November 15 2018 APEX Webinar
State of the Florida Homeowners Market
Authored by Derek W. Freihaut and Arthur R. Randolph II.

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Case Studies

Competitive Analysis - Commercial Lines

Competitive Analysis - Commercial Lines

Pinnacle was approached by a major national commercial lines insurer to provide comprehensive competitive analysis of the businessowners policy (BOP) and commercial automobile insurance market places. Pinnacle’s analysis began with a comprehensive review of the products filed by the leading twenty insurers of these products examining coverage features, rating elements, tiering and scoring elements, unique coverage features and several other key product development elements. Following this initial step, Pinnacle performed detailed territory and premium comparisons for several states using a dynamic premium comparison engine that allowed investigation at the class, coverage amount and territory level of detail. The company used a batch rating feature to develop indicated rate level estimates. Mapping features looking at ranking and pricing differences were also produced. All of this information was incorporated into a countrywide overhaul of the company’s products and pricing.

Formation

Formation

In an effort to attract and retain quality physicians, a large integrated healthcare system operating in the Midwest decided to create a physician’s professional liability insurance (PPLI) alternative to the commercial markets. After a comprehensive feasibility analysis, an offshore captive insurance company (CIC) was capitalized and formed. Pinnacle actuaries were engaged to assist in the feasibility analysis and implementation of this strategy. Pinnacle’s involvement began by assisting the captive manager to develop appropriate assumptions that were incorporated into the CIC’s proposed business plan and filed with regulators. Initially, Pinnacle performed a comprehensive analysis of the current PPLI market to develop base rates, rating factors and underwriting guidelines. On an annual basis, Pinnacle re-evaluates the base rates and rating factors and recommends adjustments to reflect current trends in the market as well as credible indications borne out of the CIC’s experience. In addition to maintaining adequate rates for the program, Pinnacle has also been retained to perform the annual analysis of unpaid loss and expense reserves. The CIC’s annual reserve analysis includes a review of policies written, premium collected and claims incurred by the CIC at the close of each fiscal reporting period. Management relies on Pinnacle’s analyses to ensure the financial health of this strategic venture.

Medical Malpractice PCF

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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