Loss Reserves are generally the largest liability listed on an insurance company’s balance sheet. Loss Reserves are the amounts set aside to pay for claims that have already occurred for […]
Overpaying claims, known as claims leakage, is one of the major concerns for not only insurers but also for third-party administrators, self-administered organizations, and the policyholders. Every year, millions of […]
Nearly one-third of insurers have reported that fraud was as high as 20 percent of claims costs! Fraud and abuse accounts for 5%-10% of claims costs EACH YEAR according to […]
When I was a Chief Risk Officer, I needed a method to help me quickly decide how to allocate my time and resources. The result was the acronym “SAGE.” “SAGE” […]
Enterprise risk management (ERM) is the process of planning, organizing, leading, and controlling the activities of an organization in order to minimize the effects of risk on an organization’s capital […]
Loss Reserves are generally the largest liability listed on an insurance company’s balance sheet. Loss Reserves are amounts set aside to pay for all claims that have already occurred, whether […]
“What is IBNR” is likely the most asked question of actuaries at a Board of Directors meeting. Huggins’ actuaries often are asked the question, so we decided to put together this […]
Climate Change is a Relative Concept – Why We Should Pay Attention to the Actuaries Climate Index (ACI) Measuring Climate Change Headlines from a News Release on August 1, […]
OVERVIEW When Huggins’ actuaries create an Economic Capital Model, they use a state-of-the-art modeling platform designed by actuaries and other insurance professionals that is widely known as an industry standard. […]
California REG-2017-0001 – Actuarial & Financial Implications Regarding Workers’ Compensation High-Deductible Policies The New Requirements: REG-2017-0001 is an effort by the California Insurance Commissioner and Department of Insurance to protect […]
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