Actuarial Consulting - Property and Casualty » Merlinos

A Busy Spring Attending Meetings and Conferences

Merlinos — Fri, 10 Feb 2012 19:09:52 +0000

Our consultants will be busy this spring attending several industry conferences and meetings.

NAIC Spring Meeting: New Orleans / March 3-6

CICA International Conference: Scottsdale / March 11-13

Florida Insurance Summit: Amelia Island / March 14-16

SIIA TPA & MGU Excess Insurers Executive Forum: Charleston / April 14-16

If you are going to be at any of these gatherings, let us know — we would love to say hello.

Homeowners’ Insurance Costs on the Rise

Merlinos — Mon, 06 Feb 2012 16:54:14 +0000

According to a recent article in the Atlanta Journal-Constitution, homeowners’ insurance price increases are affecting most consumers. In Georgia, the three main companies raised rates between 7% and 23.9%.

Industry experts say the increases are due to two main reasons – catastrophe claims and insurance fraud, primarily roofing scams. 2011 had more federal disaster declarations than any other year in history, which has severely taxed insurance companies’ reserves. For every $1.00 paid in premium, insurance companies are paying out $1.085 in claims. Reinsurance prices have also been on the rise, forcing insurance companies to pass on this expense to consumers.

Coupled with the trend of rising insurance prices, is the fact that home prices in Atlanta just reached their lowest point since 1998. Many people are stuck in homes they cannot afford to sell, and are having trouble purchasing insurance.

What do you think the solution is? Should insurance companies be capped at how much they can raise their rates in any given year? Should they be able to deny coverage renewal to current clients that have never filed a claim? Should the government step in and subsidize insurance for homeowners that can no longer afford their insurance?

Now Hiring: Health Actuary

Merlinos — Tue, 24 Jan 2012 19:08:20 +0000

Merlinos & Associates is currently seeking a Health Actuary in our Norcross (Atlanta) office. Click here to learn more about the experience, credentials, and qualifications of the ideal candidate.

Merlinos & Associates Ranked as a Top Actuarial Firm by Best’s Review

Merlinos — Mon, 23 Jan 2012 15:29:47 +0000

Merlinos & Associates was ranked in the January 2012 issue of Best’s Review as one of the top actuarial firms in the U.S. based on the 2010 market share by net premium written of the clients for whom we provide an annual statutory actuarial opinion.

GAO Report Encourages Clarification of Risk Retention Law

Merlinos — Tue, 17 Jan 2012 20:07:35 +0000

In a report released yesterday, the GAO urged clarification of the Liability Risk Retention Act (LRRA) to reduce varying interpretations of the Act. Proposed legislation also amends the LRRA to allow risk retention groups (RRGs) to provide commercial property insurance. The legislation is known as the Risk Retention Modernization Act, HR 2126, and would standardize corporate governance standards, create federal arbitration which would settle disputes with states, and would allow RRGs to provide commercial property insurance.

The study found that RRGs have been profitable and growing, and have helped improve the availability of commercial liability insurance, especially in niche markets. However, differing interpretations of LRRA have led to varying state regulations and disputes between RRG managers and state regulators. For example, some states interpret LRRA to allow RRGs to write contractual liability coverage, whereas other states do not allow this coverage to be written by RRGs. In 2010, more than 80% of RRGs were domiciled in Vermont, South Carolina, the District of Columbia, Nevada, Hawaii, and Arizona, whereas about 95% of their premium is written outside of their state of domicile. Presumably, RRGs are often domiciled in these states due to financial and regulatory advantages.

What do you think of the Risk Retention Modernization Act? Do you think allowing RRGs to provide commercial property insurance would benefit the industry? Do you believe that clarification of LRRA would encourage the growth of RRGs and improve the availability of commercial insurance?

Recent Actuarial Exam Results

Merlinos — Tue, 10 Jan 2012 17:21:09 +0000

We are proud to announce the results of our staff member’s recent actuarial examinations.

Karen Jordan has met the education requirements for membership as an Associate of the CAS and will officially receive her designation in the spring of 2012.
Meg Glenn completed CAS Exam 8 as she continues pursuing a Fellowship designation with the CAS.

Congratulations to these employees on their hard work and success!

Merlinos & Associates at the SIIA Executive Forum

Merlinos — Mon, 09 Jan 2012 15:35:48 +0000

M&A will be attending the Self-Insurance Institute of America’s TPA & MGU/Excess Insurers Executive Forum in Charleston, April 16-18. The Forum is country’s premier educational and networking event for senior executives employed by third party administrators, managing general underwriters and/or excess (stop-loss) insurance carriers.

If you are going to be in Charleston, let us know — we’d like to say hello.

Merlinos & Associates at the World Captive Forum

Merlinos — Mon, 09 Jan 2012 15:25:08 +0000

M&A will be attending the 2012 World Captive Forum in Miami, January 30-February 1. The World Captive Forum is a three-day annual meeting that attracts risk managers, captive managers, captive owners, regulators and service providers to exchange ideas, network and learn from expert speakers. M&A has extensive experience providing consulting in the area of alternative risk transfer (captive insurance, risk retention groups, trusts, self insurance).

If you are going to be in Miami, let us know — we’d like to say hello.

Mark Brannon to Attend Reinsurance Association of America Cat Modeling Conference

Merlinos — Mon, 12 Dec 2011 20:46:27 +0000

M&A’s Mark Brannon will be attending the Reinsurance Association of America (RAA) Cat Modeling conference in Orlando, February 14-16. If you are going to be in Orlando, let us know; Mark would like to say hello.

Sue Buehler Attends SWAF Meeting

Merlinos — Mon, 05 Dec 2011 18:16:54 +0000

M&A consultant Sue Buehler recently attended the Southwest Actuarial Forum’s (SWAF) 2011 Fall Meeting in San Antonio. SWAF is the is a regional affiliate of the Casualty Actuarial Society for members who reside in Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. Ms. Buehler has served as an SWAF officer for the past four years, and she is the current SWAF President.