Casualty Actuarial and Statistical (C) Task Force
Property and Casualty Insurance (C) Committee

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 insurance industry. The Task Force’s goals are to maintain the financial health of property/casualty insurers and to ensure that appropriate data regarding property/casualty insurance markets are available.

Ongoing Maintenance of NAIC Programs, Products, or Services

1. Provide reserving, pricing, ratemaking, statistical, and other actuarial support to NAIC committees, task forces, and 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, relating to casualty actuarial issues.
   • Blanks (E) Working Group (Property/Casualty Annual Statement including Schedule P, Property/Casualty Quarterly Statement, Quarterly and Annual Statement Instructions – Property/Casualty including Statement of Actuarial Opinion Instructions)
   • Statutory Accounting Principles (E) Working Group and Emerging Accounting Issues (E) Working Group (Accounting Practices and Procedures Manual)
   • Capital Adequacy (E) Task Force (Property and Casualty Risk-Based Capital Report)
   • Financial Analysis Handbook (E) Working Group (property/casualty actuarial sections of the Financial Analysis Handbook)
   • Financial Examiners Handbook (E) Technical Group (property/casualty actuarial sections of the Financial Examiners Handbook)
   • Operational Efficiencies (EX) Working Group (property/casualty actuarial sections of the Product Filing Examiners Handbook)
   • Disaster Reporting (E) Working Group (Disaster Reporting Framework)
2. Identify the types of data that are necessary to properly evaluate the medical liability insurance market, including the frequency, severity and causes of loss in order to evaluate regulatory and legislative proposals. Identify the sources of this data and the steps necessary to capture it, including changes needed in the NAIC Statistical Handbook of Data Available to Insurance Regulators, and the need to develop claims databases, or other appropriate means of capturing the necessary information. Essential
3. Consider updates and developments, provide technical assistance, and oversee the production of the following reports and databases. Also, p eriodically evaluate the demand, utility, and income derived versus the costs of production of each product.
   • NAIC Profitability Report. Charge the Profitability (C) Working Group to produce the NAIC Profitability Report.
   • NAIC Homeowners Average Premium Report
   • NAIC Auto Insurance Database
   • Property and Casualty Market Share Report
   • Commercial Lines Competition Database Essential
   • Personal Lines Competition Database Important
4. Monitor the Life Insurance Principles Based Reserving activities and provide guidance based on experiences with the Property and Casualty Principles Based Reserving already established.Important
5. Monitor national casualty actuarial developments and consider regulatory implications.
   • Casualty Actuarial Society (Statements of Principles)
   • American Academy of Actuaries (Standards of Practices)
   • Federal legislation Important
6. Provide property/casualty actuarial advice and assistance to the International Solvency & Accounting Working Group, including providing commentary as needed on relevant draft reports of the International Actuarial Association and other international bodies . Important
7. Consider updates and changes to the NAIC Statistical Handbook of Data Available to Insurance Regulators.Important

New Objectives and Goals (representing new NAIC programs, services, or initiatives):

1. Develop a Medical Malpractice Closed Claim Reporting Model Law before the 2008 Spring National Meeting. Essential
2. Work with the U.S. Department of Health and Human Services, Administration for Children and Families’ Office of Child Support Enforcement (OCSE) on the Insurance Match initiative and report to the Property and Casualty (C) Committee by the 2008 Winter National Meeting. Important