Not all services provided by American Actuarial are listed here. If the services you are interested in are not listed, please contact us regarding your needs.
Evaluation of loss and expense reserves for unpaid liabilities
Unpaid liabilities for property and casualty coverages arise from insurance, reinsurance, self-insurance, large deductible policies, high retention policies, and retrospective rating programs. We collect and analyze client data relevant to the emergence of such liabilities and estimate their ultimate values (cost when all liabilities are paid). Point estimates and reasonable ranges of estimation can be provided. Where applicable, we can include losses, loss expenses, premiums, assessments, third party administration fees and other loss/claim sensitive amounts in the analysis and will estimate the unpaid liability. Such analyses form the basis for issuing loss reserve opinions and certifications where required.
Insurance, reinsurance and self-insurance program analysis
Review of retained risk including retentions and deductibles. We analyze the risk bearing capability of the business and provide quantitative analysis of the probability of exceeding budgeted retentions by certain amounts. By modeling the expected losses and variability of claims at a given retention, we quantify the probability of exceeding your corporate budget or allocated surplus by a given dollar threshold. This helps financial planners and risk managers to determine an optimum retention level that minimizes insurance or reinsurance costs while also limiting the risk from individual large losses and aggregate losses by year. Such analysis can be performed separately by coverage and operating units to optimize charge backs and also on a combined basis to maintain higher risk retentions at the consolidated level.
Risk management and alternative risk (e.g., self-insurance and captives)
We help you evaluate the net cost options for large deductible and retro plans by comparing the actual market costs to expected costs based on company experience. We provide comprehensive captive feasibility studies for company’s contemplating the use of a captive. We perform loss reserve and funding studies for an established captive. We provide market and pricing analysis to expand a current captive’s offerings to third party business. We provide independent review of accrual estimates for self-insured retentions and deductibles and help you establish funding requirements for subsequent years. We assist you with developing an in-house accrual analysis system. We develop loss estimates to be used during insurance policy renewal to support your marketing efforts.
Risk based capital and IRIS testing
Perform or assist with risk based capital and IRIS computations utilizing the National Association of Insurance Commissioner's programs and methods. Provide help interpreting the results.
American Actuarial LLC 15 Cliffside Drive Wallingford, CT 06492