October 28, 2015 - Actuarial Committee Update

Posted Date: November 23, 2015
    

The Actuarial Committee met on Wednesday, October 28, 2015. The major topics covered at this meeting included:

  • Class Ratemaking Research—Accuracy Performance Testing (ACT-15-04) Performance test results to analyze the accuracy of alternative methodologies were presented. Results for the alternative methodologies included variations of the current indicated and national pure premium estimators as well as updated credibility parameters.
  • Legislative Analysis—Updates on Legislative Activity (ACT-15-05) Staff presented a summary of legislative activity in 2015, noting some of the more significant proposed and enacted changes, along with identifying legislative issues for 2016.
  • Class Ratemaking—Research: Stability Performance Testing (ACT-15-06) Test results to analyze the stability of alternative methodologies were presented. Results for the alternative methodologies included variations of the current indicated and national pure premium estimators as well as updated credibility parameters.
  • Underwriting Committee—Committee Updates (ACT-15-07) The Underwriting Committee meets three times per year to consider topics and issues of national relevance. At the meeting, staff provided an update on the topics currently being presented to the Underwriting Committee, particularly those that will result in national item filings.
  • Class Ratemaking—Research: Claim Frequency Groupings (ACT-15-08) Staff presented preliminary analysis exploring potential groupings of classes based on claim frequency.

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 either the agenda or the minutes for the meeting as indicated below.

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October 28, 2015 Agenda (PDF)

  • Class Ratemaking Research—Accuracy Performance Testing (ACT-15-04)
  • Legislative Analysis—Updates on Legislative Activity (ACT-15-05)
  • Class Ratemaking—Research: Stability Performance Testing (ACT-15-06)
  • Underwriting Committee—Committee Updates (ACT-15-07)

October 28, 2015 Minutes (PDF)

  • Class Ratemaking—Research: Claim Frequency Groupings (ACT-15-08)