I spent some time this week outlining a concept for my PhD dissertation. It concerns the decision process related to selecting a workers compensation large deductible policy. I’m still a long ways from getting a formal proposal written, but I loved the brainstorming this effort created in the office this week. If you work with […]
SIGMA Actuarial Consulting Group, Inc. invites insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in our annual collateral survey. The survey takes about 5 minutes to complete and will be available through November. The published survey results will be shared with our survey participants. As an added bonus, participants […]
Through a series of blogs, SIGMA has begun to address some common questions, requirements and issues based on our previous experience with clients and auditors. The first blog in the series focused on actuarial qualifications and an actuarial qualification statement. The second focused on auditor inquiries related to actuarial independence. This blog will address the […]
I am fortunate to have the opportunity to meet with Powered by SIGMA brokers on a weekly basis as I travel around the country. My goal is always to make sure I understand the challenges facing PBS brokers and how SIGMA and the PBS resources might best support our PBS members. Topics that are discussed […]
Recent changes in the state of California have prompted us to issue a year-end special blog to all RiskMangementBlog.com subscribers. This information is critical to brokers and their clients that work in or have operations in the state of California. Effective January 1, 2013, actuarial reports will be a required component of each private self-insurer […]
Current actuarial standards of practice indicate that multiple actuarial methods should be used to determine the estimated ultimate losses when completing an actuarial analysis of unpaid claim liabilities. One source of guidance related to actuarial methods and models is Actuarial Standard of Practice 43 (ASOP 43), particularly in Section 3.6.1. For example ASOP 43 states […]
Through a series of blogs, SIGMA has begun to address some common questions, requirements and issues based on our previous experience with clients and auditors. The first blog in the series focused on actuarial qualifications and an actuarial qualification statement. This blog will focus on auditor inquiries related to actuarial independence. The interaction with auditors, […]
Decisions about risk financing are often made using one assumption about the retained losses, or at best, using a range of claims. Claims costs for future periods are a forecast that will vary to some degree. The amount of that variation is measured by estimating the confidence interval based on the probability distribution calculated from […]
As a follow up to our blog "Q&A with Amethyst" on April 23rd, we promised a Captive Assessment Tool would be added to the portal. This was completed just in time for the Vermont Captive Insurance Association conference (August 7th – 9th). If you are going to be attending VCIA’s 2012 conference, please be sure […]
In the last quarter of 2011, SIGMA Actuarial Consulting Group conducted a survey of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral. This survey was similar to the ones conducted by SIGMA in 2009 and 2010. The goal of the survey was to assess, […]