Webinar & Conference Call
Tuesday, November 27, 2018
Tuesday, December 4, 2018
11:00 a.m. PT/ 12:00 p.m. MT/ 1:00 p.m. CT/ 2:00 p.m. ET
Webinar with Audio: https://naic.adobeconnect.com/castfpmbc/
Audio Only: 1-800-882-3610/ Passcode 3334269#

2018 Fall National Meeting
San Francisco, California
Thursday, November 15, 2018
9:30 – 11:30 a.m.
Hilton San Francisco Union Square—Continental 7-9—Ballroom Level

Predictive Model White Paper
Please send comments to Kris DeFrain by close of business on January 15, 2019.

Related NAIC Publications


Casualty Actuarial and Statistical (C)
Task Force



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 P/C insurance industry.

The Task Force's goals are to maintain the financial health of P/C insurers and to ensure that appropriate data regarding P/C insurance markets are available.

2018 Proposed 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, relating to casualty actuarial issues.
      1. 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 and Actuarial Opinion Summary Supplement).
      2. Statutory Accounting Principles (E) Working Group (Accounting Practices and Procedures Manual). Review and provide comments on statutory accounting issues being considered under SSAP No. 65—Property and Casualty Contracts.
      3. Capital Adequacy (E) Task Force (P/C RBC report).
      4. Financial Analysis Handbook (E) Working Group (P/C actuarial sections and other sections regarding the use of P/C actuaries in the risk-focused examination process of the Financial Analysis Handbook).
      5. Financial Examiners Handbook (E) Technical Group (P/C actuarial sections and other sections regarding the use of P/C actuaries in the risk-focused examination process of the Financial Condition Examiners Handbook).
      6. Operational Efficiencies (EX) Subgroup of the Speed to Market (EX) Working Group (P/C actuarial sections of the Product Filing Review Handbook).
      7. Auto Insurance (C/D) Working Group (affordability, data call, any remaining issues related to price optimization).
    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).
      4. Federal legislation.
    3. Monitor activities related to the Own Risk and Solvency Assessment (ORSA), including the activities of the Group Solvency Issues (E) Working Group, the Academy, the International Actuarial Association (IAA) and other relevant organizations.
    4. Facilitate discussion among regulators regarding rate filing issues of common interest across states through the scheduling of regulator-only conference calls.
    5. Develop an attestation an actuary must complete and sign annually to verify the actuary is qualified to sign a statutory P/C Statement of Actuarial Opinion.
    6. Work with actuarial organizations to require P/C Appointed Actuaries participate in a continued competence process every one to three years.
    7. Work with the American Academy of Actuaries to add clarity to the required three-year experience period in the U.S. Qualification Standards regarding the mentor’s responsibilities and the learning expectations for the actuary.
    8. Draft and propose changes to the Product Filing Review Handbook to include best practices for review of predictive models and analytics filed by insurers to justify rates.
    9. Draft and propose state guidance (e.g., information, data) for rate filings that are based on complex predictive models.
    10. Facilitate training and the sharing of expertise through predictive analytics webinars (aka "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 statement instructions.
    3. Regulatory guidance to appointed actuaries.
  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