Texas Workers’ Compensation Insurance Market Presentation for the Workers’ Compensation 2012 Biennial Rate Hearing Texas Department of Insurance Property.

Slides:

Advertisements

Similar presentations

Overview of Tennessees Workers Compensation Market Conditions and Environment August 29, 2013 Advisory Council on Workers Compensation Presented by Mike.

Advertisements

On-Level ASAP by Actuarial Services and Programs

Assignment Nine Actuarial Operations.

Property & Casualty 2010 Compliance Conference. Using the “Filing Smart” Manual A Guide to Financial Program Filings and Property and Casualty Division.

Copyright © 2011 Pearson Prentice Hall. All rights reserved. Chapter 7 Financial Operations of Insurers.

Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 7 Financial Operations of Insurers.

1 CINCINNATI FINANCIAL CORPORATION Credit Suisse First Boston 2005 Annual Insurance Conference November 2005.

Endurance Specialty Holdings Ltd AIFA Conference Michael E. Angelina Chief Actuary and Chief Risk Officer.

11-1 Skyline College Chapter The payroll register provides information about wages subject to payroll taxes. Payroll Taxes.

W-7: Reporting NFIP Expenses to the NAIC Presenters: Sara Robben, NAIC Tom Hayes, FEMA Phil Zakas, iService.

1 Terrorism Risk Insurance Program Jeffrey S. Bragg.

1 Math 479 Casualty Actuarial Mathematics Fall 2014 University of Illinois at Urbana-Champaign Professor Rick Gorvett Session 7: Ratemaking I September.

 Copyright 2012 National Council on Compensation Insurance, Inc. All rights reserved. Texas Biennial Hearing December 17, 2012

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Finance 431: Property-Liability Insurance Lecture 2: Overview of Insurance Operations.

STATUTORY STATEMENTS OF ACTUARIAL OPINION – Changes for Today and Tomorrow Tomorrow’s Model Law 2003 CLRS Chicago, IL.

Senate Bill No. 863 Cost Monitoring – Current Update W o r k e r s’ C o m p e n s a t i o n I n s u r a n c e R a t i n g B u r e a u o f C a l i f o r.

THE EFFECTS OF MAJOR REFORMS ON WORKERS’ COMPENSATION RATES IN CALIFORNIA DWC Educational Conference March 2 and March 7 th, 2006 Gregory Trout, MPA Bickmore.

California’s Workers’ Compensation-Completing the Reform DWC 13 th Annual Educational Conference: L.A. March 1 & 2, Oakland March 6 & 7, 2006.

Real Estate Investment Chapter 11 Tools of Analysis © 2011 Cengage Learning.

Delaware Private Passenger Automobile Insurance Farm Family Insurance Company Robert Penick ACAS, MAAA Actuarial Services.

1 Practical ERM Midwestern Actuarial Forum Fall 2005 Meeting Chris Suchar, FCAS.

Workers Compensation Large Deductible Issues Matt Hayden, FCAS, MAAA Liberty Mutual Holmes Gwynn, ACAS, MAAA Texas Department of Insurance September 12,2005.

Workers Compensation Data Sources Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005.

1 Presented by Jim Watford, Actuary Office of Insurance Regulation, Department of Financial Services 2003 CAS Spring Meeting - Marco Island, Florida May.

Finance 431: Property-Liability Insurance Lecture 6: Ratemaking.

Midland National Life ® Insurance Company North American Company for Life and Health Insurance ® Sammons ® Corporate Markets Group Sammons Securities Company.

The Ins & Outs Of Self-Insurance Southwest Actuarial Forum December 4, 2007 Ed Costner, ACAS, MAAA Casualty Actuarial Consultants, Inc.

SEMINAR NAIC/ASSAL/SVS REGULATION & SUPERVISION OF MARKET CONDUCT © 2014 National Association of Insurance Commissioners Market Analysis.

CYPRESS PROPERTY & CASUALTY INSURANCE COMPANY Personal Lines Rate Hearing Homeowners Multi-Peril OIR File Number: FCP Room 116, Larson Building.

Les Rendez-Vous de Septembre Monte-Carlo 2002 Overview of the United States Insurance Industry in 2001 Debra Ballen American Insurance Association.

Overview of Insurance Operations Types of Insurers Risk Transfer Process Objectives of Insurers Constraints of Achieving Objectives Measurement of Insurer.

Loss Reserves from the Actuarial, Accounting and IRS Perspectives Actuary’s Perspective by Alan E. Kaliski, FCAS, MAAA.

Milliman Package Policy Reserving Casualty Loss Reserve Seminar Prepared by: Brian Z. Brown, FCAS, MAAA Consulting Actuary Milliman, Inc. Monday – September.

2,532 NDIRF Membership Schools Other City County 2014 MEMBERS’ PREMIUM DISTRIBUTION.

ICP 20 – U.S. Statutory Financial Reporting

Opinion Writers Symposium Casualty Loss Reserve Seminar September 10-11, 2007 Moderator: Mary D Miller, Ohio Dept of Insurance Panelists: Nicole Elliott,

Issues in California Workers Compensation Michele Bernal, FCAS VP & Actuary, American Re 6/15/00.

Workers Compensation Update Karen Ayres, FCAS, MAAA NCCI Casualty Loss Reserve Seminar September 12, 2005.

Copyright © 2011 Pearson Education. All rights reserved FINANCIAL OPERATIONS OF PRIVATE INSURERS Chapter 26.

 2005 NCCI Holdings, Inc. Workers Compensation State of the Line 2006 CAS Ratemaking Seminar Jeff Eddinger, FCAS, MAAA Practice Leader & Senior Actuary.

Chapter 7 Financial Operations of Insurers. Copyright ©2014 Pearson Education, Inc. All rights reserved.7-2 Agenda Property and Casualty Insurers Life.

Mississippi Association of Self-Insurers Mississippi's Self-Insured Work Comp Industry – Tanned, Rested & Ready! Presented by: Preston Williams, MWCC Christopher.

John Ykema, Director of Sales & Marketing Arthur Frisch, President, i3 Analytics.

 2002 NCCI Holdings, Inc. Workers Compensation: Emerging Issues WC Industry Reserve Adequacy Karen Ayres, FCAS, MAAA Casualty Loss.

CLRS Intermediate Track III WC Case Study September 2008 Washington, DC.

Loss Reserving: Is It Broken? What Can Be Done Better? Casualty Loss Reserve Seminar September 14, 2004 Chuck Emma, Pinnacle Tom Ryan, Milliman John J.

Cabinet Presentation State of the Florida Homeowners’ Insurance Market June 26,

2002 CAS Reinsurance Seminar Economic Forces Driving the Property/Casualty Industry May 2002.

1998 CASUALTY LOSS RESERVE SEMINAR 5B Intermediate Track IV Case Study Example 1: WC Insurance Company Example 2: GL Insurance Company September 29, 1998.

2005 Casualty Loss Reserve Seminar Loss Reserve Analysis and Statements of Actuarial Opinion Robert E. Farnam Senior Financial Analyst and Actuary A.M.

MITIGATING THE FINANCIAL IMPACT OF THE CALIFORNIA WORKERS’ COMPENSATION MARKET FEBRUARY 13, 2013 Steve Flynn Managing Director Marc Urias Senior Vice President.

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

History ASAP by Actuarial Services and Programs Provides instant access to state and countrywide direct experience for reporting on state filing forms.

AmTrust Announces Continued Growth of Operated Earnings For The First Quarter 2016

Ratemaking Actuarial functions Ratemaking Loss reserving Data collection and analysis Profitability analysis Competitive analysis Prepare statistical reports.

C O R P O R A T I O N Cincinnati Financial Sandler O'Neill & Partners, L.P. Financial Services Conference June 8, 2006 C O R P O R A T I O N.

Pillar 3. Transparency versus Confidentiality. Information Classification. Law on Access to Information Ted Nickel NAIC President Elect and Commissioner,

Electronic – Statutory Financial Return (E-SFR) Timae Flood Bermuda Monetary Authority.

Risk Analysis ASAP by Actuarial Services and Programs Evaluating Experience of Individual Accounts or Program Groups.

Financial Operations of Private Insurers

Ratemaking Actuarial functions Ratemaking Loss reserving

Casualty Loss Reserve Seminar September 2007

The Perfect Texas Homeowners Storm

State Regulation, how would it change your world?

CASUALTY ACTUARIAL SOCIETY RATEMAKING SEMINAR March 11 – 12, 2004

Mary Gaillard AIG March 11, 2004

Overview of Insurance Operations

Components of Insurance Premiums, 2011–2013

Presentation transcript:

Texas Workers’ Compensation Insurance Market Presentation for the Workers’ Compensation 2012 Biennial Rate Hearing Texas Department of Insurance Property and Casualty Actuarial Office December, 2012

2 Market and Profitability

3 Texas Workers' Compensation Direct Written Premium in Billions Source: TDI Compilation of Texas Statutory Page 14 of the NAIC Annual Statements prepared by the Texas Department of Insurance.

4 Texas Workers' Compensation Change in Direct Written Premium from Prior Year Source: TDI Compilation of Texas Statutory Page 14 of the NAIC Annual Statements prepared by the Texas Department of Insurance.

5 Texas Workers' Compensation Projected Ultimate Calendar/Accident Year Loss and Combined Ratios Source: Texas Workers’ Compensation Financial Data Call, Texas Compilation of Statutory Page 14, Texas Compilation of the Insurance Expense Exhibit.

6 Rates and Premiums

7 Texas Workers' Compensation Summary of Companies Indications Filed in August 2012 Based on Experience Through 12/31/2011 Source: Company rate filings received by the Texas Department of Insurance in response to Commissioner's Bulletin B

8 Texas Workers' Compensation Average Premium per $100 of Payroll Source: Texas Workers’ Compensation Financial Data Call, and the Department's 2011 Classification Relativity Study.

9 Texas Workers' Compensation Average Premium, Loss, and Expense per $100 Payroll Source: NCCI Financial Data Call, NCCI Financial Data Package, TX Compilation of Statutory Page 14, TX Compilation of IEE.

10 Texas Workers' Compensation Comparison of Relative Change in Average Premiums, Schedule Rating Factors and Rate Levels Source: Texas Workers’ Compensation Financial Data Call, and insurance company rate filings.

11 Certified Healthcare Networks

12 Texas Workers' Compensation Undeveloped Incurred Loss Ratios for Network and Non-Network Experience Source: Texas Department of Insurance Workers’ Compensation Network Data Call.

13 Summary