Entries by Huggins Actuarial

ORSA in the United States – Part 3

ORSA in the United States: Series Background and Current Status: Part 3 of 3 Written by Jane C. Taylor, FCAS, MAAA, JD & Ronald T. “Rusty” Kuehn, FCAS, MAAA, CERA, CPCU, ARM, FCA with Carolyn Dintino What are its Components? The ORSA report, supported by the insurer’s internal risk management materials, should include the following […]

The Benefits of Economic Capital Modeling

Economic Capital Modeling What are the Benefits? Written by: Grover Edie, MBA, FCAS, MAAA, CERA, CPCU, ARM, ARP Would you like to see your company’s financial future? How successful will you be in one, two or even ten years? What if you could test a number of different actions in advance to determine what is the […]

Consultant Spotlight: John Gradwell

Consultant Spotlight: Consulting Actuary, John Gradwell, ACAS, MAAA, CPCU, ARe John brings world-class expertise on enterprise risk management (ERM) and economic capital modeling (ECM) to Huggins’ clients. He has more than 20 years of hands-on experience working with S&P 500 multi-national companies with responsibilities engaging in a wide spectrum of ERM and ECM initiatives. John […]

What is Driving Inflation?

What is Driving Inflation? High Economic Inflation in Consumer Pricing Written by: Steven Lesser, FCAS, MAAA The insurance industry has been grappling with social inflation for years. More recently, the pandemic disruption has reshaped everything from driving patterns to the structural aspects of the economy, and has motivated changes to consumer behaviors, such as how […]

Vermont Captive Insurance H.515

Vermont’s Captive Insurance Law How VT H.515 Affects Captive Insurance Written by Nancy Jamali What is Captive Insurance? Simply put, a captive is an supplemental insurance company, owned and controlled by a noninsurance body. Captive insurance exists to mitigate risks involved when a corporation employs an insurer. Since the insurer is under the sole management […]

How to Explain IBNR

“What is IBNR?” is a commonly asked question… Especially at a Board of Directors Meeting Written by Grover M. Edie, MBA, FCAS, MAAA, CERA, CPCU, ARM, ARP Like in most industries, insurance companies are required to hold liabilities on their books. For insurers, those liabilities include unpaid costs of claims. Some claims are reported and […]

Risk Management and the “SAGE” Test

What is a SAGE© Test for Risk Management? Consulting Actuary, Grover Edie, Explains Written by Grover M. Edie, MBA, FCAS, MAAA, CERA, CPCU, ARM, ARP Effective Risk Management decisions require a balancing of limited time and resources against the risks confronting the organization. When I was a Chief Risk Officer, I created an acronym to help […]

Accruals for Uncertain Liabilities

Accruals for Extended Warranties and Other Guarantees Think of the last time you purchased an automobile, electronic device, or a major appliance. Oftentimes, you have the option to purchase an extended warranty or service contract. These exist to give you peace of mind, should your new refrigerator, washing machine, or stereo system stop working as […]