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FCAS, MAAA, CERA Principal and Consulting Actuary
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“Ch-ch-ch-ch-Changes (Turn and Face the Strange)” Oct 10, 2017
Disruptive Medical Technology is Changing Lives (Including Mine) Jan 25, 2017
Puerto Rico – A Domicile on the Move Nov 30, 2016
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A New Safe Harbor Is Empowering Captive Owners To Go It Alone Sponsored Content in R&I Insights Authored by Robert J. Walling III.
March 2018 APEX Webinar Expected Adverse Development as a Measure of Risk Distribution Authored by Derek W. Freihaut and Robert J. Walling III.
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Legislative / Regulatory Impacts
A state medical society asked Pinnacle to evaluate the impact of a change in the state’s damage caps for non-economic damages for medical professional liability. Pinnacle worked with the medical society to identify the most appropriate claims databases to assess the legislation’s potential impact. 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 addition, we performed a thorough analysis of how the state compared to other states in terms of the availability and affordability of medical professional liability insurance coverage, insurer operating results for the line, and access to healthcare in the states. Through this industry analysis, we identified differences well beyond a simple loss limitation and provide a more complete review of potential environmental changes that could be expected in the state.
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.
Rate Filing Review
Pinnacle typically provides state regulators expert review of company and bureau rate change filings. In a recent review of a Company’s automobile rate filing Pinnacle was able to confirm that the filed rates met the State’s rating laws and Department’s filing requirements. Using a procedure developed by Pinnacle specifically to review rate filings, the Company filing was reviewed against generally accepted actuarial principles. The Company was questioned on certain rating procedures and was able to support their procedures and selections with additional documentation to the filing. Pinnacle was then able to affirm to the Regulator that the filed rates were not excessive, inadequate, nor unfairly discriminatory and that the new rates would not produce any major policyholder dislocations. The Regulator was then able to acknowledge the Company’s filing with confidence that the Regulator had carried out his charge of providing service and protection both to consumers and to the insurance industry.
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May 21, 2018 WRCIC
May 24, 2018 May Apex Discussion Series - Actuarial Considerations for Allocating IBNR Reserves Register