Property and Casualty
Managing property and casualty risk in today's business environment calls for a special combination of far-sighted vision and a close eye on details. Your ability to focus and follow through on details keeps your organization in compliance with a myriad of legal and regulatory requirements. At the same time, your ability to look ahead, anticipate contingencies, and take effective action can make the difference between business survival and business success.
Maintaining a strategic vision is a constant challenge. To meet the challenge, you need top independent, specialized, professional advice and services. Our property and casualty actuaries offer you the best.
Our philosophy is simple - exceptional risk modeling and more robust analysis leads to better management of risk, adding value to our clients' businesses. Our approach is founded on a close partnership with our clients - a relationship where we work together to find solutions. We provide actuarial models that are practical, realistic and reflect timely information. Just as importantly, we present the results and analysis so that they are understandable to all users. Our risk modeling toolkit provides our clients a better understanding of their business and product risk profile. This understanding leads to improved risk management and enhanced stakeholder value.
Property and Casualty Actuarial Services
Unpaid liability estimates/reserve valuations: Determination of unpaid estimates relating to self-insurance, insurance deductibles, retrospectively rated policies, and collateral requirements
Pricing and loss forecasting: Estimates of funding requirements for self-insured exposures and calculations of appropriate rates for new and existing insurance products and risk transfer mechanisms
Statements of actuarial opinion and other financial reporting requirements: Calculations for various reporting requirements for insurance companies, government entities, public-entity pools, private corporations including Statements of Actuarial Opinion, GASB 10 Compliance, and FASB 5/60
Rate filings: Preparation and defense of rate filings submitted to insurance regulatory commissions
Enterprise risk management: Identification and analysis of risks throughout organizations in order to better manage the value of the enterprise
Due diligence for mergers and acquisitions: Forecasts of expected future costs and liabilities, as well as estimates of outstanding liabilities on both discounted and undiscounted bases, including appropriate provision for risk
Benchmarking: Calculation and comparison of key cost indicators including average cost per claim, average expense per claim, average number of claims per unit of exposure, average lag between reporting and payment dates, and average cost in excess of specified retention
Risk retention analysis: Measurement of expected losses and expenses, as well as underlying risk, under various risk transfer mechanisms; assistance in selecting insurance programs; assessment of the impact of program changes and the reasonableness of insurance premiums
Litigation support and expert testimony: Expert testimony in rate regulatory proceedings, tort proceedings, and litigation related to general business disputes
Cash flow analysis: Forecasts of future cash flows due to existing liabilities and expected future claims
Allocation of insurance costs: Design and implementation of programs that partition the cost of risk across divisions, cost centers, corporate entities, or members, as applicable
Captive studies and alternative funding analyses: Feasibility studies of self-insurance and captives; cost and benefit analysis associated with various risk financing approaches; assistance with competitive bidding and negotiation of premiums; loss reserve analyses
Information management: Monitoring of changes in cost-per-unit exposure, claim counts, claim costs, outstanding liabilities, large claim incidence rates, cash flows, and other performance measures
Specialized actuarial services for insurance industry regulators:
