actuaries News

Actuaries: Social Inflation Increased Commercial Auto Claim Costs by $20B Over 10 Years

The insurance industry is ringing alarm bells about the cost of social inflation again, this time with the help of an actuarial analysis that concludes the phenomenon added more than $20 billion to the cost of commercial auto claims over …

Pace of COVID-19 Claims in Calif. Slower than Projected So Far

California workers had filed 5,093 COVID-19 workers’ compensation claims as of Tuesday, according to the state Department of Industrial Relations, a pace that might lead to a lower impact on costs than projected by actuaries. The potential cost of the …

As Nation Reopens, a Historic Referendum on Risk Begins

WASHINGTON — We are becoming a nation of amateur actuaries, calculating the risk of restarting our lives. Can we go outside? Can we go back to work? Can we go to a restaurant or bar? Can we go to the …

Valuable Information That Aids Claims, Underwriting Gleaned From Big Data

The story of big data — the oceans of data that modern technology generates — in some ways presents a modern cliffhanger. Now that we have access to all of that data, what will we do with it? Actuaries heard …

Actuaries Must Consider Homeowner Envy and Home Telematics in Future Pricing

To price next year’s insurance, property/casualty actuaries need to know what trends are emerging right now. A wide-ranging discussion at the Casualty Actuarial Society Annual Meeting held in early November during a session on “Emerging Homeowners and Personal Auto Exposures” …