Product Update

Using a Casualty Actuary and Insurer Insolvency Discussions Updated in Risk Financing


This release of Risk Financing updates the "Using a Casualty Actuary for Financing Risk" and "Insurer Solvency" discussions.

As more risk financing programs utilize some form of risk-sharing pricing structure, insureds have become more closely involved with the actuarial work necessary to such arrangements. Risk managers and others frequently engage actuaries for a number of services. This "Using a Casualty Actuary for Financing Risk" discussion offers guidelines on who qualifies as a casualty actuary and on how to get the best results out of engaging an actuary.

Insurance company rating services typically provide the best assurance that an insurer selected to underwrite a risk has the long-term claims-paying dependability on which insureds rely. New service firms have appeared on the market, and well-established firms periodically change their rating methods to reflect more subtle differences in financial conditions. One relatively new rating service provider is the Kroll Bond Rating Agency (KBRA), established in 2010. KBRA provides financial strength ratings to traditional reinsurers as well as captives, risk retention groups, and other alternative risk structures. It issues both long-term and short-term ratings as outlined in "Insurer Solvency." This discussion provides a list of the more prominent rating agencies along with explanations of their insurer ratings.

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