FCAS, FSA, FCIA, MAAA
Independent Contractor and Consulting Actuary

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Steven G. Lehmann

Steve Lehmann is a Consulting Actuary with Abacus Actuarial Consulting, LLC, with over 40 years of actuarial experience. His practice includes loss reserving, ratemaking, development of pricing strategies including coordination of underwriting and rating programs, financial examinations, loss reserve opinions, rate filings, residual market studies and rate of return analysis. His skill set includes testifying before numerous regulatory and legislative bodies and before an arbitration panel on a variety of insurance matters including ratemaking, risk classification, agents’ contingent commissions and fair rates of return. He has a strong background in pricing and reserving of insurance products.

Mr. Lehmann, a co-founder of Pinnacle Actuarial Resources, Inc., retired from the firm in 2011, serving as the firm’s President from 2003 – 2008. His association with Pinnacle continues, working as an Independent Contractor from the firm’s Bloomington, Illinois office.

Mr. Lehmann is a Fellow of the Casualty Actuarial Society (FCAS), a Fellow of the Society of Actuaries (FSA), a Member of the American Academy of Actuaries (MAAA) and a Fellow of the Canadian Institute of Actuaries (FCIA). He is a past President of the Casualty Actuarial Society (CAS) and the American Academy of Actuaries (AAA) and has served as Chair of the Boards of both organizations. He has also served as Vice President and Chair of the Casualty Practice Council of the AAA and Chair of the Actuarial Standards Board Ratemaking Subcommittee. He is certified by ARIAS (AIDA Reinsurance and Insurance Arbitration Society) as one of some 400+ certified reinsurance arbitrators in the U.S.

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Case Studies

Farmowners Product Development

Farmowners Product Development

Pinnacle was approached by a leading farmowners insurer to review their current farmowners program. Pinnacle conducted a comprehensive review of competitor's manuals to determine if any additional rate factors needed to be included our client’s current program. Based upon our review, Pinnacle made a number of suggestions including incorporating new rate factors and changing their rating algorithm to a scorecard approach that has been successful in many other lines of business. Pinnacle used its expertise in farmowners product development and cutting edge pricing techniques to improve our clients farmowners product.

Florida Automobile No-Fault Impact Analyses

Florida Automobile No-Fault Impact Analyses

In 2006 and 2007, Pinnacle was retained by Floridians for Lower Insurance Costs (FLIC) to conduct independent actuarial studies to determine the cost implications on the Florida Health Care system from various changes to the Florida No Fault Law.

First in 2006 we conducted an independent actuarial study to determine the cost implications of repealing Florida’s current no-fault law. Pinnacle also priced first party medical payments benefits of $2,500, $5,000 and $10,000 as replacements for current personal injury protection (PIP) benefits.

Then in 2007, Pinnacle determined the impact that would result from the sunset of Florida’s current no fault law. Pinnacle also determined what current PIP insurance costs will be absorbed by other insurance programs compared to costs that will go unreimbursed since the current PIP coverage will be eliminated at the time that no fault is sunset. Pinnacle testified before the Florida House Committee Working Group on Insurance in support of the analysis. The Florida No Fault Law was sunset only to be reenacted immediately thereafter.

Personal Lines

Personal Lines

Pinnacle was approached by a national insurer that wanted to develop a more sophisticated homeowners rating program. Their current homeowners plan was a traditional rating approach and was only based on a few factors, and the company felt they were not taking full advantage of the potential in the homeowners market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included the introduction of by-peril rating and new territory definitions. This new structure allowed the company to be more precise in rating homeowners, resulting in more adequate and competitive rates for a broader spectrum of risks.

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