ACAS, MAAA, CERA
Managing Principal

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Joseph A. Herbers

Joe Herbers is Pinnacle’s Managing Principal and has over 32 years of consulting experience. His practice is concentrated in providing loss reserving and funding studies for a wide variety of entities – both traditional insurance companies and alternative market entities. Mr. Herbers’ areas of focus include policyholder owned group captives, large deductible and/or self-insured entities, lawyers’ professional liability carriers, Florida property writers and nonstandard auto writers.

His skill set includes loss reserving for all lines of business, hands-on interaction with policyholder-owned group captive insurance companies, networking with service providers and traditional ratemaking for all types of entities with insurance exposure. Mr. Herbers is an Associate of the Casualty Actuarial Society, a Member of the American Academy of Actuaries and a Chartered Enterprise Risk Analyst. He served as long-term member and Chair on the American Academy of Actuaries Committee on Property Liability Financial Reporting (COPLFR) as well as several other professional committees. He is a regular speaker at industry events.

Publications and Media

January 2019 APEX Webinar
Statements of Actuarial Opinion at Year-End 2018
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

January 2018 APEX Webinar
Statements of Actuarial Opinion at Year-End 2017
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

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Case Studies

Bermuda SAO

Bermuda SAO

Pinnacle provides the loss reserve analysis and statement of actuarial opinion to the Bermuda-domiciled captive of a major national long haul trucking company for over a decade. This reserve analysis examined the captive's coverages for excess automobile liability coverage, deductible reimbursement under a large deductible workers compensation policy and cargo liability and physical damage coverages. The analysis utilized both company loss development triangles and industry benchmarks. Once the reserve analysis was completed and discussed with the client, the statement of actuarial opinion was produced to comply with regulatory requirements. Our excellent working relationship with the captive’s auditors simplifies the work of both firms on behalf of the captive.

Contractor's Liability

Contractor's Liability

Pinnacle was asked to provide a legislative costing analysis and expert testimony regarding proposed legislation that would substantially expand coverage for construction defects in Oregon. Pinnacle’s study and testimony focused not only on the current conditions of the contractors’ liability insurance market compared to other states, but also the historical changes seen when other states made similar changes. Our analysis also focused on the relationship between home warranties and commercial general liability insurance policies and how these risk mitigation techniques differ over time after a home is completed.

Risk Management Assessment

Risk Management Assessment

Pinnacle was asked by a state department of corrections to provide a comprehensive, independent review of the adequacy of their property and casualty insurance plan. The independent insurance plan review was necessary for compliance purposes with state insurance regulators. The facility had even stricter self-imposed standards for their insurance plan. It was Pinnacle’s job to review the guidelines for reasonableness and appropriateness as part of an overall risk management strategy. Pinnacle reviewed and adhered to the state code as well as the additional standards provided by the facility. Moving through each line of insurance coverage, Pinnacle offered recommendations and approval notations. The result was an increased level of risk control for the facility, and subsequently led to a follow up review by Pinnacle at the next required consultation.

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