Casualty Practice Council

Casualty Practice Council Hightlights

• Provided a comment letter to House and Senate leadership concerning the reconciliation process involving the Affordable Health Care for America Act (H.R. 3962) and the Patient Protection and Affordable Care Act (H.R. 3950).
• Provided a comment letter to House sponsors of the Health Industry Fair Competition Act.
• Provided written testimony to the Senate Committee on Environment and Public Works concerning the Big Oil Bailout Prevention Liability Act of 2010 (S. 3305).
• Provided comments to the Department of the Treasury on Financial Markets: Terrorism Risk Insurance Analysis in response to a request appearing in the June 17 Federal Register.
• Provided reports to the National Association of Insurance Commissioners (NAIC) on risk-based capital underwriting factors.
• Participated in several cross-discipline projects headed by the Financial Reporting and Risk Management Council, which provided comments to the NAIC on its solvency modernization initiative and deferred tax assets.
• Discussed potential changes in the NAIC's Risk-Based Capital Model with the NAIC Capital Adequacy Task Force's Solvency Modernization Initiative Subgroup and other interested parties during a two-day meeting in July. The Academy's Property and Casualty Risk-Based Capital Committee likely will be actively involved in this project.
• Published a report on the causes of property/casualty insurance company insolvencies.
• Conducted the Academy's fifth annual seminar on loss reserve opinions, providing expanded content to educate both relatively new and advanced opinion writers.
• Provided comments to the Actuarial Standards Board concerning its second exposure draft of revised Actuarial Standards of Practice No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves and comments on its exposure draft of revised Actuarial Standards of Practice No. 41, Actuarial Communications.
• Provided a comment letter to the California Commission on Health and Safety and Workers' Compensation concerning a paper by Frank Neuhauser advocating for the integration of workers' compensation into the group health model.