Ratemaking

Press Releases & News

• Registration Opens for the Interactive Live Stream Event: 2018 RPM Seminar( 11/14/2017)
• Call for Presentations: 2018 Ratemaking, Product and Modeling Seminar and Workshops( 7/07/2017)
• Limited Time Offer: 2017 Underwriting Collaboration Seminar and Ratemaking and Product Management Seminar Recordings Bundle( 5/17/2017)
• 3-D Printing, Smart Homes, Autonomous Vehicles: Read Recaps of “Hot Topic” RPM Sessions( 4/12/2017)
• Call for Presentations for Singapore Actuarial Society's General Insurance Conference( 3/16/2017)

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Events

There are currently no events. You may view other events in the calendar.

Full CAS Calendar

Committees

• Committee on Ratemaking
  • The Committee on Ratemaking addresses actuarial issues of property and casualty insurance ratemaking including risk classification. The committee's charge includes furthering the development and dissemination of ratemaking theory and principles; identifying topics for research and discussion; monitoring professional developments and regulatory activities; and sponsoring panels, seminars, and other public forums on ratemaking issues.
  • Interested in volunteering? Please contact Karen Sonnet vis email at ksonnet@casact.org.
• Ratemaking, Product and Modeling Seminar Planning Committee
  • The Ratemaking and Product Management Seminar Planning Committee is responsible for developing a program for the annual Ratemaking and Product Management Seminar.

Resources

• Instructions and guidance
• Filing Requirement
• NAIC Product Filing Review Handbook
• NCCI Filing Guide for Rates and Forms
• Capital Requirement
• NAIC Risk–Based Capital (RBC) Requirement
• Availability and Affordability
• AAA Automobile Insurance Committee's Comments to the Federal Insurance Organization (FIO) Regarding Availability and Affordability of Auto Insurance
• Insurance Research Council on Auto Insurance Affordability
• NAIC on the State Survey Related to the Availability and Affordability of Automobile Insurance
• Pricing Data
• Database of Industry Data Sources

Standards and Principles

• ASOPs – Pricing related key ASOPs:
• ASOP 13 – Trending Procedures in Property/Casualty Insurance
• ASOP 23 – Data Quality
• ASOP 25 – Credibility Procedures
• ASOP 29 – Expense Provisions in Property/Casualty Insurance Ratemaking
• ASOP 30 – Treatment of Profit and Contingency Provisions and the Cost of Capital in Property/Casualty Insurance Ratemaking
• ASOP 38 – Using Models Outside The Actuary's Area of Expertise (Property and Casualty)
• ASOP 39 – Treatment of Catastrophe Losses in Property Casualty Insurance Ratemaking
• ASOP 41 – Actuarial Communications
• All ASOPs
• Principles
• Property and Casualty Insurance Ratemaking Statement of Principles
• All Principles
• Other
• Code of Professional Conduct
• Comments Submitted on the Discussion Draft of Statement of Principles Regarding Property and Casualty Insurance Ratemaking

Research Articles, Newsletters, Presentations

Research Articles

1. Practical LDF Interpolation for Well-Behaved IBNR
   Actuaries have devised numerous methods for interpolating annual evaluation loss development factors (LDF) to arrive at quarterly evaluation factors. Not all of these work as well as might be hoped. Some introduce oscillations not found in the …
2. A Comprehensive, Non-Aggregated, Stochastic Approach to Loss Development
   In this paper, we present a stochastic loss development approach that models all the core components of the claims process separately. The benefits of doing so are discussed, including the provision of more accurate results by increasing the data …
3. An Alternative Approach to Credibility for Large Account and Excess of Loss Treaty Pricing
   This paper illustrates a comprehensive approach to utilizing and credibility weighting all available information for large account and excess of loss treaty pricing. The typical approach to considering the loss experience above the basic limit is to …
4. The Mathematics of On-Leveling
   The mathematical foundation of on-leveling premium is explicitly stated. This is combined with an appropriate set of assumptions to derive the formulae for on-leveling premium by rate book (described within) and for using the Parallelogram Method. …
5. Minimum Bias, GLMs, and Credibility in the Context of Predictive Modeling
   When predictive performance testing, rather than testing model assumptions, is used for validation, the needs for detailed model specification are greatly reduced. Minimum bias models trade some degree of statistical independence in data …

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