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Actuarial Services
Property and Casualty Workers' Compensation PDF  | Print |

Pricing and Rates

  • Conduct competitive rate analysis
  • Evaluate profitibility and marketing goals
  • Determine required rate for all lines
  • Prepare filings for regulatory agencies
  • Calculate loss cost mulitipliers

Loss Reserves

  • Evaluate dynamic factors, inflation, legal trends, economic issues, and changes in claims procedures
  • Determine Incurred But Not Reported (IBNR) reserves
  • Present Value analysis
  • Tax, GAAP, and Statutory reserves
  • Provide actuarial opionion of required reserves

 

Management Support on the following items

  • Strategy development and business/financial planning
  • Underwriting and marketing management
  • Claim auditing
  • Operating practices
  • Company information and licensing

 

 
Self-Insurance / Captives on Alternative Markets PDF  | Print |

Workers’ Compensation, Commercial Property and Liability Programs

  • Rating/Pricing/Dividend plans
  • Retro plans/Deductible credits
  • Managed care/Cost savings
  • Service company evaluation and selection


Pro Forma / Feasibility

  • Quantification of risk exposures
  • Actuarial evaluation of claims liability
  • Financial and investment income analysis of loss costs and cash flow
  • Develop deficit funding plans


Regulatory Requirements

  • Actuarial statement on claim liability (Actuarial Opinion)
  • Determine rate adequacy
  • Compliance filings as required on Rates and Reserves

Claims Administration

  • Compare loss payments and case reserves transactions to financial reports
  • Audit accuracy of computer reports
  • Audit of claim management and case reserves
 
Reinsurance PDF  | Print |

IIC does not broker or market reinsurance

Analysis

  • Excess of loss and quota share
  • Loss and premium analysis
  • Experience with direct and broker market reinsurers
  • Specific and aggregate, size of loss calculations, Retained versus Excess losses
Consulting
  • Assist in developing specifications and negotiating coverage for Primary Companies
  • Financial evaluation of reinsurance: Cost versus Benefit Economic basis
 

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