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Casualty news
The Academy's Casualty Practice Council provides objective technical expertise to policy-makers and regulators on major property-casualty issues, including medical liability and asbestos litigation. The council is led by Bob Miccolis, the Academy's vice president for casualty issues. Feedback on NAIC proposal for climate risk disclosureThe Academy responds to an NAIC working group's proposal for disclosure of insurers' climate risks. Comments to FTC on credit scoringThe Academy comments on the FTC's plan to obtain data for a study on using credit-based insurance scores for homeowners' insurance. Response to NCOIL's catastrophe funding proposalThe Academy comments on a proposed NCOIL resolution about a state-federal system for catastrophe funding. New: Med mal fact sheetThe Medical Malpractice Insurance Subcommittee publishes the first in its series of one-page fact sheets on medical malpractice insurance topics. The series is designed for actuaries as well as the general public. P/C loss reserving primerThe Committee on Property and Liability Financial Reporting (COPLFR) has published an overview of the P/C loss reserving process, including a sample checklist of actuarial information that P/C insurers' audit committees might find useful. Proposed revisions for updated RBC factorsThe Academy's P/C Risk-Based Capital Committee sends the NAIC proposed revisions for updated RBC underwriting factors. Online calendarsCalendars of potential interest to casualty actuaries include:
Updated loss reserve practice noteAvailable online: The annually updated practice note on SAOs for p/c loss reserves. Qualification reviews for signing opinionsIf you’re an Academy member who doesn’t belong to the CAS and you need approval to sign a casualty loss reserve opinion, you may ask the Casualty Practice Council to review your qualifications.
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