Bermuda-based AXIS Capital Holdings Ltd. announced the launch of the “AXIS Re Actuarial Scholarship” in partnership with Renmin University in China. The scholarship fund will provide financial assistance to actuarial students in Renmin’s School of Statistics to help develop their …
Concerns over price optimization are leading regulators to think carefully about the implications of longstanding practices in insurance rating, including premium “caps” on policy renewals for individuals, households and small businesses, according to one regulator. Charles Angell, deputy commissioner and …
The incorporation of big data from Internet-based sources is a defining feature of underwriting and rating in today’s property/casualty insurance market. In light of that, the National Association of Insurance Commissioners (NAIC), through its Big Data Task Force, is exploring …
RMS and a group of actuarial societies each rolled out new products designed to respectively help measure risks related to earthquake and weather events. In RMS’ case, the catastrophe modeling firm gained regulatory approval in Peru to start marketing its …
The Casualty Actuarial Society (CAS) has selected four universities to receive the 2016 CAS University Award, an honor created to recognize schools doing exemplary work in preparing students for a career in the property/casualty insurance industry. The schools honored in …
Colorado State University’s annual benchmark forecast for Atlantic hurricanes is unlikely to change significantly when it is updated June 1, according to CSU hurricane expert Phil Klotzbach, as the increasing likelihood of moderate to strong El Nino conditions in the …
As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital markets—hedge funds, pensions and others that have found innovative …
The crossroads of auto insurance these days is telematics, the use of an electronic device to monitor how an automobile is being driven. The device monitors where a car is and how it is being driven, and, in theory, should …
A reworking of a key piece of the workers’ compensation rating formula isn’t changing rates overall but is changing premiums for most insureds, according to experts. Tony DiDonato, director and senior actuary at the National Council on Compensation Insurance, the …
The Casualty Actuarial Society (CAS) has named Richard Fischer as its new director of Admissions. Before joining CAS, Fischer worked in the U. S. Department of Labor’s Office of Federal Contract Compliance Programs as a psychometric expert to support federal …
