Hot Topics in the P/C Insurance Industry
The Casualty Actuarial Society is a research-oriented professional organization whose purpose is the advancement of the body of knowledge of actuarial science applied to property, casualty, and similar risk exposures. This section provides CAS press releases and research papers on current topics in the property/casualty insurance industry. The CAS welcomes the opportunity to speak to the media, and we invite you to contact the CAS about any property/casualty insurance or risk management issues.
- Asbestos Liability - Over 35 years after the filing of the first asbestos personal injury lawsuit, the tide of tort claims relating to asbestos continues to rise and have profound effects on many businesses and industries in the U.S., particularly in the property-casualty insurance and reinsurance sector.
- Credit Scoring - The use of credit scoring by insurers in underwriting and rating personal lines of insurance has brought on increased interest, oversight and even some action by insurance regulators and state legislatures to ensure the practice is being used fairly and in compliance with existing and new regulations.
- Enterprise Risk Management - Enterprise Risk Management (ERM) is a process for identifying and prioritizing critical risks facing an organization, quantifying their impact on financial and strategic objectives, and implementing financial and organizational solutions to address them.
- Understanding the Underwriting Cycle - Many lines of business are affected by the underwriting cycle, and the causes of market change are varied and complex.
- Industry Reserve Adequacy and Capitalization - In the insurance markets of today, where do things stand in regards to the capitalization and state of the industry?
- Medical Malpractice Crisis - Many reasons have been cited for the medical malpractice crisis. Physicians have blamed the litigiousness of society. Consumer groups have cited mismanagement of insurers. What is the cause? More importantly, what is the resolution?
- Rating Agency Downgrades - Both the causes and subsequent effects of insurer ratings are coming under increasing scrutiny under the notion of changing liquidity positions of major insurance carriers. Although rating agencies are required to assess and tell the public the extent to which a company is a going concern, a downgraded rating may exacerbate an already problematic situation in a company in which the public trust is lost and business goes elsewhere.
- Terrorism Risk Insurance Act - The Terrorism Risk Insurance Act (TRIA) was signed into law in November 2002. TRIA establishes a shared system of public and private compensation for insured losses resulting from acts of terrorism, and allows for a transitional period for private markets to stabilize, resume pricing for such insurance, and build capacity to absorb future losses.
CAS Office Press Contact:
J. Michael Boa
Director of Communications & Marketing
Casualty Actuarial Society
4350 N. Fairfax Dr. Suite 250
Arlington, VA 22203
Phone: (703) 276-3100
Fax: (703) 276-3108