ACAS, MAAA, CERA
Managing Principal

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Joseph A. Herbers

Joe Herbers is Pinnacle’s managing principal with more than 35 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. Joe’s areas of focus include policyholder-owned group captives, large deductible and/or self-insured entities and public entity pools.

His skill set includes loss reserving for all lines of business, hands-on interaction with alternative market entities, networking with service providers and traditional ratemaking for all types of property/casualty insurance exposure. Joe serves on the Employers Advisory Committee of the Casualty Actuarial Society (CAS) and was a long-term member and chair on the American Academy of Actuaries (AAA) Committee on Property Liability Financial Reporting (COPLFR). He is a regular speaker at industry events.

 

Publications and Media

September 2020 APEX Webinar
Group Captives 101
Authored by Joseph A. Herbers.

January 2020 APEX
Statements of Actuarial Opinion at Year-End 2019
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

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Case Studies

DFA Model

DFA Model

Pinnacle was asked by a regional insurer to help build a customized financial model for use in strategic decision making and in determining economic capital needs. The model reflected current and potential underwriting operations. It also incorporated economic scenario generators, capital allocation, catastrophe model results, regulatory and rating agency metrics such as risk-based capital (RBC) and Best’s Capital Adequacy Ratings (BCAR), as well as loss reserve variability. The model was designed to be used to evaluate a variety of strategic decisions, particularly related to underwriting, reinsurance, macro investment allocation, and capital allocation decisions.

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.

Self Insured Dividend / Assessment Analysis

Self Insured Dividend / Assessment Analysis

A large group self insurance program was concerned with the amount of retained earnings and wanted to establish a policy for the minimum capital for the program to trigger dividend distributions. Pinnacle compared the program’s capitalization to a wide variety of industry standards for similar programs from rating agencies, regulators, and other sources. The results of this analysis lead to a recommended board policy regarding a minimum capital threshold for dividend distributions and ultimately to the development of an actuarially sound dividend distribution plan.

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