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Casualty Actuarial and Statistical (C) Task Force

2021 Membership

Mission

The mission of the Casualty Actuarial and Statistical (C) Task Force is to identify, investigate and develop solutions to actuarial problems and statistical issues in the property/casualty (P/C) insurance industry.

The Task Force's goals are to assist state insurance regulators with maintaining the financial health of P/C insurers; ensuring P/C insurance rates are not excessive, inadequate or unfairly discriminatory; and ensuring that appropriate data regarding P/C insurance markets are available.

2021 Adopted Charges

  1. The Casualty Actuarial and Statistical (C) Task Force will:
    1. Provide reserving, pricing, ratemaking, statistical, and other actuarial support to NAIC committees, task forces and/or working groups. Propose changes to the appropriate work products (with the most common work products noted below) and present comments on proposals submitted by others relating to casualty actuarial and statistical matters. Monitor the activities, including the development of financial services regulations and statistical (including disaster) reporting, regarding casualty actuarial issues.
      1. Property and Casualty Insurance (C) Committee – ratemaking, reserving or data issues.
      2. Blanks (E) Working Group – P/C annual financial statement, including Schedule P; P/C quarterly financial statement; P/C quarterly and annual financial statement instructions, including Statement of Actuarial Opinion (SAO) and Actuarial Opinion Summary Supplement.
      3. Capital Adequacy (E) Task Force – P/C risk-based capital (RBC) report.
      4. Group Solvency Issues (E) Working Group and ORSA Implementation (E) Subgroup – Own Risk and Solvency Assessment (ORSA).
      5. Statutory Accounting Principles (E) Working Group – Accounting Practices and Procedures Manual (AP&P Manual), and review and provide comments on statutory accounting issues being considered under SSAP No. 65—Property and Casualty Contracts.
      6. Speed to Market (EX) Working Group – P/C actuarial sections of the Product Filing Review Handbook.
    2. Monitor national casualty actuarial developments and consider regulatory implications.
      1. Casualty Actuarial Society (CAS) – Statements of Principles and Syllabus of Basic Education.
      2. American Academy of Actuaries (Academy) – Standards of Practices, Council on Professionalism, and Casualty Practice Council.
      3. Society of Actuaries (SOA) – general insurance track’s basic education.
      4. Federal legislation.
    3. Facilitate discussion among state insurance regulators regarding rate filing issues of common interest across the states through the scheduling of regulator-only conference calls.
    4. Work with the CAS and SOA to identify: 1) what types of learning P/C Appointed Actuaries are using to meet CE requirements for “Specific Qualification Standards” today and 2) whether more specificity should be added to the P/C Appointed Actuaries’ CE requirements to ensure that CE is aligned with the educational needs for a P/C Appointed Actuary.
    5. Facilitate training and the sharing of expertise through predictive analytics webinars (Book Club).
  2. The Actuarial Opinion (C) Working Group will:
    1. Propose revisions to the following, as needed, especially to improve actuarial opinions, actuarial opinion summaries, and actuarial reports, as well as the regulatory analysis of these actuarial documents and loss and premium reserves:
      1. Financial Analysis Handbook.
      2. Financial Condition Examiners Handbook
      3. Annual Statement Instructions—Property/Casualty.
      4. Regulatory guidance to appointed actuaries and companies.
      5. Other financial blanks and instructions, as needed.
  3. The Statistical Data (C) Working Group will:
    1. Consider updates and changes to the Statistical Handbook of Data Available to Insurance Regulators.
    2. Consider updates and developments, provide technical assistance, and oversee the production of the following reports and databases. Periodically evaluate the demand and utility versus the costs of production of each product.
      1. Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance.
      2. Auto Insurance Database.
      3. Competition Database Report.
      4. Report on Profitability by Line by State.

NAIC Support Staff: Kris DeFrain/Jennifer Gardner/Libby Crews

 

CASTF 210511

Public Webex Meeting
Tuesday, May 11, 2021
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT Expected Length of Call: 1 hr
Webex Link

The purpose of this call is to discuss P/C actuarial issues.


CASTF 210608

Public Webex Meeting
Tuesday, June 08, 2021
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT Expected Length of Call: 1 hr
Webex Link

The purpose of this call is to discuss P/C actuarial issues.


CASTF 210713

Public Webex Meeting
Tuesday, July 13, 2021
2:00 PM ET, 1:00 PM CT, 12:00 PM MT, 11:00 AM PT Expected Length of Call: 1 hr
Webex Link

The purpose of this call is to discuss P/C actuarial issues.


CASTF 210309

Public Webex Meeting
Tuesday, March 09, 2021
8:00 AM ET, 7:00 AM CT, 6:00 AM MT, 5:00 AM PT Expected Length of Call: 1 hr
Webex Link

WebEx meeting in lieu of the Spring National Meeting.


Related NAIC Publications

Contacts

Media Inquiries
(816) 783-8909
news@naic.org


Kris DeFrain, FCAS, MAAA, CPCU 
Director, Research and Actuarial Department
Phone: 816-783-8229

Please see the current Committee List for a complete list of committee members.