February 18, 2015 - Actuarial Committee Update

Posted Date: February 18, 2015
    

Industry InformationNCCI Actuarial Committee

The Actuarial Committee met on Wednesday, February 18, 2015. The major topics covered at this meeting included:

  • Aggregate Ratemaking Methodologies, Part 4—Experience Base (ACT-15-06)
    At the meeting, staff utilized the interval distance framework presented in August, 2014, to evaluate alternative ratemaking methodologies. Test results for some common alternative trend and experience period procedures were reviewed.
  • Committee Updates—Underwriting Committee (ACT-15-07)
    Staff provided an update on the topics currently being presented to the Committee, particularly those that will result in national item filings.
  • Industry Results (ACT-15-08)
    At the meeting, staff presented the most recently available frequency and severity information based on data valued as of 12/31/2013 for NCCI states.
  • TRIPRA of 2015 (ACT-15-09)
    At the meeting staff presented on the current state of TRIA and highlighted efforts in Congress to bring the Act to where it is today.
  • Evaluating Options for Newly Created Class Codes (ACT-15-10)
    Staff reviewed a subset of newly created codes and presented options that were considered by NCCI related to the creation of new class codes.
  • Detailed Claim Information (DCI) Data—Update (ACT-15-11)
    At the meeting, staff presented an update on the progress of reviewing and utilizing the data collected under the revised Detailed Claim Information (DCI) Data Call.
  • Class Ratemaking Research (ACT-15-12)
    At the meeting, staff provided the latest status of the class ratemaking methodology review.

Please refer to the minutes of the meeting for any pertinent discussion on each topic. The presentation for each of the listed topics is contained in the Agenda.

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February 18, 2015 Agenda (PDF)

  • Aggregate Ratemaking Methodologies, Part 4—Experience Base (ACT-15-06)
  • Committee Updates - Underwriting Committee (ACT-15-07)
  • TRIPRA of 2015 (ACT-15-09)
  • Detailed Claim Information (DCI) Data—Update (ACT-15-11)
  • Class Ratemaking Research (ACT-15-12)

February 18, 2015 Minutes (PDF)

  • Industry Results (ACT-15-08)
  • Evaluating Options for Newly Created Class Codes (ACT-15-10)