Casualty Actuarial Society News

How New Capital is Changing P/C Industry and What To Do About It

As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital markets—hedge funds, pensions and others that have found innovative …

Making the Economics of Telematics Work for Insurers

The crossroads of auto insurance these days is telematics, the use of an electronic device to monitor how an automobile is being driven. The device monitors where a car is and how it is being driven, and, in theory, should …

New Workers’ Compensation Formula Lowers Premiums for Most Employers

A reworking of a key piece of the workers’ compensation rating formula isn’t changing rates overall but is changing premiums for most insureds, according to experts. Tony DiDonato,  director and senior actuary at the National Council on Compensation Insurance, the …

Casualty Actuarial Society Names Fischer as Admissions Director

The Casualty Actuarial Society (CAS) has named Richard Fischer as its new director of Admissions. Before joining CAS, Fischer worked in the U. S. Department of Labor’s Office of Federal Contract Compliance Programs as a psychometric expert to support federal …

How Predictive Modeling Has Revolutionized Insurance

The use of predictive modeling has forever changed the way insurance policies are priced. The revolutionary tool allows insurers to design ever-more-sophisticated models that tap ever-more-detailed data sets to refine precisely how much each customer should be charged. Casualty actuaries …

Do Actuarial Models Influence P/C Underwriting Cycle?

Property/casualty insurance is noted for the sharp rise and fall of its rates – the underwriting cycle. As actuaries have developed more sophisticated statistical and computer models to help understand complex insurance problems, what has been their effect on the …

Casualty Actuaries Should Consider Foreign Customs, Economics, Politics

A bulletin from the Insurance Information Institute notes that a recent Casualty Actuarial Society seminar advises actuaries that when it comes to pricing global reinsurance business, it’s important to remember that “all risks are local.” Athula Alwis, associate vice president …

Analysts Debate Outlook for Reinsurance Stocks

With reinsurance stocks trading below book value, equity analysts basically agree on the factors affecting these stocks but differ on their outlook on the sector. Property/casualty insurance analysts Meyer Shields, analyst at Stifel, Nicolaus & Co.; Gregory Locraft, an executive …

Actuaries Urged to Get Involved in Insurers’ Social Media Strategies

Actuaries are being urged to lend their expertise as insurers get more involved in using social media tools to connect with policyholders and prospects, tools that are producing  metrics ripe for expert analysis. Actuaries should wade in and not wait …

How Health Reform Will Affect Workers’ Comp, Liability Insurance

The federal health reform enacted last year will bring short- and long-term challenges to employers and the property/casualty insurance industry. According to Harry Shuford, chief economist for the insurance industry’s National Council on Compensation Insurance, the new law is “a …