Nicholas E. Alicea
Robert J. Walling III
Terrence D. Wright
Timothy C. Mosler
Derek W. Freihaut
Arthur R. Randolph II
Pinnacle has always worked with us to identify what information was needed, obtain the info and present important results.
Pinnacle helps alternative market risk owners, captive managers and service providers determine risk retentions that optimize the balance between the cost of risk transfer and loss volatility.
Pinnacle has consultants who are experienced as expert witnesses in arbitrations and also ARIAS-certified arbitrators.
Pinnacle consultants deal with auditors daily, assisting them in serving their customers and evaluating the work products of other actuaries.
Pinnacle strives to construct benchmarks for any analysis, whether ratemaking, loss reserving or some other use, as close as possible to replicating the nature of the underlying data being reviewed.
Pinnacle provides loss reserve analyses and other
diagnostics in support of collateral negotiations associated with deductible
and/or self-insured retentions.
Today, no industry is changing as quickly or fundamentally as health care. At the same time, escalating medical professional liability costs have become a critical issue for health care providers and those seeking to improve health care value and outcomes.
Pinnacle’s experts understand the spectrum of risks inherent in delivering health care services in today’s litigious environment. We have provided actuarial consulting services in every aspect of medical professional liability insurance at the local, state and national levels. Our customers include health care providers, captive managers, medical professional liability insurers, insurance regulators, legislators, industry associations, and government insurance programs.
By working with the unique issues associated with numerous specialties and state reform types, as well as both traditional and alternative insurance programs, our experience equips us to develop accurate and efficient strategies to help you strategically manage your health care liability exposures.
If you’re a health care provider pursuing alternative risk management strategies such as captive insurance companies and risk retention groups, we can help by designing your program, estimating the impact of modifying or eliminating certain services, and even investigating the cost-benefit of new technology to reduce medical errors.
Our expertise with a wide variety of health care specialties includes:
September 7 2017 APEX Webinar
Opioids and Workers’ Compensation
June 2017 APEX Discussion Series
Medical Professional Liability: State of the Market in 2017
Authored by Timothy C. Mosler and Arthur R. Randolph II.
See More »
Pinnacle serves many of the largest group captives in the world, many of them domiciled in the Cayman Islands. These reserve analyses are typically produced twice a year and serve multiple purposes. First, they provide a range of reasonable estimates which management uses to determine their best estimate of ultimate losses and unpaid claims liabilities. Second, these reserve estimates can then be allocated to individual members to determine the outstanding liabilities and potential future assessments, if any. Finally, the allocated ultimate losses become the basis for renewal pricing estimates for each member. Pinnacle’s approach to estimating and allocating reserves in group captives is unique in the industry and sets our alternative practice apart with its efficiency and accuracy.
In an effort to attract and retain quality physicians, a large integrated healthcare system operating in the Midwest decided to create a physician’s professional liability insurance (PPLI) alternative to the commercial markets. After a comprehensive feasibility analysis, an offshore captive insurance company (CIC) was capitalized and formed. Pinnacle actuaries were engaged to assist in the feasibility analysis and implementation of this strategy. Pinnacle’s involvement began by assisting the captive manager to develop appropriate assumptions that were incorporated into the CIC’s proposed business plan and filed with regulators. Initially, Pinnacle performed a comprehensive analysis of the current PPLI market to develop base rates, rating factors and underwriting guidelines. On an annual basis, Pinnacle re-evaluates the base rates and rating factors and recommends adjustments to reflect current trends in the market as well as credible indications borne out of the CIC’s experience. In addition to maintaining adequate rates for the program, Pinnacle has also been retained to perform the annual analysis of unpaid loss and expense reserves. The CIC’s annual reserve analysis includes a review of policies written, premium collected and claims incurred by the CIC at the close of each fiscal reporting period. Management relies on Pinnacle’s analyses to ensure the financial health of this strategic venture.
Medical Malpractice PCF
Pinnacle has developed an excellent working knowledge of patient compensation and birth-related injury funds in many jurisdictions, including Florida, Indiana, New Mexico, Ohio, Virginia, and Wisconsin. In several of these states, we not only complete regular rate indications and loss reserve analyses, we are frequently involved in legislative costing of proposed laws that may impact the fund. These proposed laws have included addition, modification and removal of damage caps, changes to primary coverage limits, revisions to program eligibility or mandatory coverage requirements, and program benefits changes. In all of these states, policymakers have benefitted from Pinnacle’s expert analysis, understandable reports and insightful advice.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
February 15, 2018
February Apex Discussion Series -
Diagnosing Your Predictive Model
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Pinnacle is an actuarial firm focused on property/casualty insurance, including alternative markets, captives, self insureds, enterprise risk management, predictive analytics, commercial lines and more. We serve trucking, insurance, health care, medical professional liability, reinsurance, workers compensation, public entities and other companies and concerns.
Our services include expert witness, loss reserving, litigation support, pricing, ratemaking, rate filing, statements of actuarial opinion, feasibility studies, capital modeling and other actuarial services and products.
Phone: (309) 807-2300
Fax: (309) 807-2301
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