Authored by: Edward Toy – Senior Manager, Investment Specialist With the COVID-19 Pandemic and the resulting economic turmoil, 2020 was a very challenging year for investors in general, and that included U.S. insurance companies. With financial statement data available for year-end 2020, this is a good time to consider how investments may have changed for...
Dear Commissioner Caride and Mr. Schrader: Risk & Regulatory Consulting, LLC (“RRC” or “we”) supports the efforts of the Financial Stability (EX) Task Force and the Liquidity Assessment (EX) Subgroup (“Subgroup”) to provide additional tools to enable an assessment of macroprudential impacts on the broader financial markets of a liquidity stress impacting a number of...
Written By: Sara Schumacher Published In: SOFE, The Examiner Fall 2020 The insurance industry is not immune to personnel risk. With an ever-changing and volatile job market, coupled with rapid technological advancements and other factors, most notably COVID-19, this risk is becoming more prevalent and cannot be ignored as part of current regulatory examinations. Personnel...
Authored by: Edward Toy – Senior Manager, Investment Specialist Following on our last Market Briefing from earlier this year (March 11, 2020), to say that we have experienced a roller coaster ride in the last six months would be an obvious understatement. The impact of the pandemic on the US economy was severe and we...
The April 23 rd , 2020 Health Actuarial (B) Task Force (HATF) meeting included multiple presentations regarding the potential impact of the ongoing COVID-19 pandemic on the health insurance marketplace. The meeting provided an opportunity for members of HATF, interested regulators, and Interested Parties to gain perspective on considerations that may impact the 2021 Patient...
Authored by: Kemi Akinyemi and Ben Leiser Published in SOA: Actuarial Technology Today, May 2020. The Society of Actuaries Actuarial Innovation & Technology Program Steering Committee engaged Risk & Regulatory Consulting LLC (RRC) to conduct research on the intersection of U.S. insurance ratemaking and analytics techniques in advanced modern rating systems and associated regulatory considerations...
2020 NAIC Liquidity Stress Test Framework for Life Insurers Meeting the Scope Criteria