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Services for Captives

Actuarial Solutions provides numerous services to captive entities, such as pure captives, association captives, industrial insured captives, agency captives, and risk retention groups.

Reserve Analysis and Statement of Actuarial Opinion

  • Projection of ultimate loss and loss adjustment expense (LAE)

  • Determination of liabilities for loss and LAE on a nominal (undiscounted) basis

  • Calculation of discounted liabilities

  • Assessment of reserve adequacy and derivation of needed incurred but not reported (IBNR) reserves

  • Statement of Actuarial Opinion

Feasibility Study

  • Estimation of prospective loss and allocated loss adjustment expense (ALAE) cost

  • Expense analysis

  • Premium determination

  • Assessment of needed capital

  • Pro forma financial statements

Determination of Funding Level

  • Prospective loss forecasts

  • Projection of associated expenses, including ALAE, claims administration fees, taxes, assessments and reinsurance premiums

  • Reflection of time value of money

Allocation of Funding Level

  • For group captives or RRGs, determination of each member's contribution using exposure and each individual entity's loss experience

Other Services

  • Risk transfer studies

  • Determination of the ability of a captive to issue a dividend

  • Review of reinsurance needs and the cost of reinsurance

  • Estimation of cost impact of individual members joining or leaving a group captive

  • Expert testimony

Captives

Services for Self-Insureds

Actuarial Solutions performs a wide variety of tasks for both private and public sector self-insureds.

Loss Reserve Studies

  • Projection of liabilities relating to retained loss and associated expenses

  • Reflection of time value of money (discounted liabilities)

  • Compliance with Governmental Accounting Standards Board statement numbers 10 & 30 (GASB10 & GASB30) for public sector self-insureds

  • Derivation of loss incurred but not reported (IBNR) based upon total needed versus case reserves

Determination of Funding Level

  • Projection of future cost of retained insurance or deductible layers

  • Projection of associated expenses, including ALAE, claims administration fees, taxes, assessments and reinsurance premiums

  • Reflection of time value of money

Allocation of Funding Level

  • For group self-insureds, determination of each member's contribution using exposure and an individual entity's loss experience

Other Services

  • Review of excess insurance needs and the cost of excess insurance

  • Estimation of cost impact of individual members joining or leaving a self-insured group

  • Self-insurance feasibility studies

  • Captive feasibility studies

  • Expert testimony

Self-Insureds

Services for Insurance and Reinsurance Companies

Actuarial Solutions provides various services to a number of insurance and reinsurance companies.

Loss Reserve Studies

  • Independent projection of liabilities, including loss and related expenses

  • Review of impact of reinsurance arrangements (e.g., specific excess and aggregate coverages)

  • Review of cost of reinsurance

  • Certifications or Statement of Actuarial Opinion

Ratemaking

  • Evaluation of company loss and expense experience

  • Evaluation of company experience for possible deviation from level of advisory loss costs

  • Evaluation of company's countrywide operating expenses

  • Determination of state specific taxes and assessments

  • Determination of residual market loads, if necessary

  • Review of industry data

  • Projection of indicated rate level

  • Class ratemaking

Rate Filings

  • Preparation of Rate and Rule Pages for submission to insurance departments

  • Preparation of filing forms and memorandum

  • Assistance with answering questions from regulators

Development or Review of Individual Risk Rating Plans

  • Retrospective rating plans

  • Small and large deductible plans

  • Schedule rating plans

  • Merit rating plans

  • Experience rating plans

Other Services

  • Evaluation of impact of workers compensation statutory benefit changes

  • Calculation of reserves for lifetime workers compensation claims

  • Development of a dividend plan

Insurers and Reinsurers

Services for Insurance Regulators 

Actuarial Solutions has contracted with a number of state insurance departments to assist with various actuarial tasks.  

  • Review captive and risk retention group feasibility studies submitted to insurance departments as part of the licensing process

  • Perform the actuarial portion of financial examinations for existing insurance companies, reinsurers, captives and RRGs

  • Provide an independent actuarial projection of gross and net loss and LAE liabilities

  • Assist with review of actuarial loss, LAE and premium calculations, as well as pro forma financial statements, related to mergers, acquisitions and other special interest filings

  • Review rate filings submitted to the insurance department for approval

  • Prepare independent rate and premium change indications

  • Testify on behalf of the insurance department in relation to financial examinations, rate filings or mergers and acquisitions

Insurance Regulators
Auditors

Services for Auditors

Actuarial Solutions provides various actuarial services to audit firms.

  • Review actuarial loss and LAE reserve reports for audit clients

  • Perform independent actuarial projections of retained liabilities

Litigation Support

Actuarial Solutions has considerable experience assisting entities and their attorneys with litigation related to insurance issues. We offer a full range of consulting and litigation support services.

  • Expert testimony

  • Written reports, including reports submitted as evidence

  • Analysis of reserves, rating programs and other pertinent documents

  • Estimation of damages

  • Review of needed collateral

Litigation Support
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