Kim E. Piersol
Mr. Piersol is a Fellow of the Casualty Actuarial Society (CAS) and a Member of the American Academy of Actuaries (AAA). Before joining Huggins, he served as Senior Vice President & Chief Actuary for Crum & Forster Insurance Companies. Prior to that he served as chief actuary for CNA Insurance Companies, and was a consulting actuary for KPMG LLP and Arthur Andersen LLP, and Chief Financial Officer for AIG Risk Management, Inc. He has over forty years of experience in the actuarial field.
Mr. Piersol’s professional experience includes:
- Serving as the practice leader for Huggins’ Actuarial Forensic Litigation & Valuation Practice, which provides litigation/arbitration support and actuarial expert witness services, as well as property-casualty valuations in due diligence situations, including mergers and acquisitions and examinations of insurance companies, reinsurance companies, captives, third party administrators (TPAs), and insurance agencies. The Practice also provides loss portfolio transfer due diligence for insurance/reinsurance company clients in runoff.
- Providing expert witness testimony and support for:
- Actuarial malpractice
- Rehabilitation/liquidation proceedings
- Insurance/Reinsurance arbitrations/commutations
- Disputes involving collateral issues between insured/insurer/reinsurer
- Latent liability proceedings
- Disputes involving insurance company litigants
- Serving as appointed actuary for over forty property-casualty insurance companies
- Developing and implementing a workers’ compensation individual claim simulation reserve projection method which enhances the analysis of workers’ compensation reserve projections from both a financial reporting and pricing perspective.
- Incorporating U.S. Geological Survey (USGS) earthquake seismic hazard data and a third-party mapping software product into the workers’ compensation exposure data base to develop a real-time “hot-spot” database/report for the use of product line executives and senior management to control concentrations of workers’ compensation earthquake exposures, especially in California. This database/report assisted in not only underwriting but also enterprise risk management and the possible avoidance of a franchise ending catastrophic earthquake event.
- Providing reserving discipline during a distressed period and assisting with an A.M. Best ratings upgrade during a period of deteriorating market conditions.
- Developing sophisticated price monitoring techniques for all lines of business to provide senior management with a tool to ensure that pricing and reserving processes remain consistent and facilitate the production of profitable business.
- Estimating ultimate costs of the automobile warranty program of a major original equipment manufacturer using a simulation model based upon millions of service call records along with auto disposition and warranty ownership data.
- Leading property-casualty valuation teams in due diligence situations, including examinations of insurance companies, reinsurance companies, captives, TPAs and insurance agencies.
Mr. Piersol has served on the CAS exam committee and participated in presentations at CAS seminars. He has served on the AAA Environmental Liabilities Work Group, the National Association of Insurance Commissioners (NAIC) Technical Advisory Committee on Catastrophe Reserves, the Workers’ Compensation Reinsurance Bureau Actuarial Committee, and has been a director and treasurer of the Professional Liability Underwriting Society (PLUS). He also served on the Professional Liability Actuarial Subcommittee of the Insurance Services Office (ISO). Mr. Piersol earned his Bachelor of Science in mathematics at Furman University, Greenville, SC. He has also served as a 1st Lieutenant in the United States Army Field Artillery.
Mr. Piersol achieved his Bachelors of Science in Mathematics at Furman University, Greenville, SC.
The Huggins Advantage
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