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Puerto Rico as the Bridge Between Latin America and the U.S.
The 2017 Self-Insurance Institute of America (SIIA) International Conference took place in San Juan, Puerto Rico on April 18-19. Session highlights included the advantages of the island’s financial services environment for offshore companies and an overview of the Puerto Rico Insurance Code. An accredited member of the National Association of Insurance Commissioners (NAIC), Puerto Rico’s Office of the Commissioner of Insurance (OIC) has taken an active role in promoting the island as an ideal domicile for international insurers.
Statements of Actuarial Opinion at Year-End 2016
Aaron Hillebrandt February 02, 2017 Posted in: Blog Posts, Apex Webinar
On January 27, 2017, Pinnacle’s Managing Principal Joe Herbers and I co-presented January’s APEX webinar, “Statements of Actuarial Opinion at Year-End 2016.” We discussed topics ranging from Statement of Actuarial Opinion (SAO) best practices to what is changing for year-end 2016 SAOs. Required changes for SAOs that are under the regulation of the National Association of Insurance Commissioners (NAIC), may be found in the Official NAIC Annual Statement Instructions. For year-end 2016, the changes are not significant and focus on clarification of reporting requirements.
Erich Brandt

What is Material Adverse Deviation?

Let’s Start Exploring

What is Material Adverse Deviation?
Erich Brandt September 15, 2015 Posted in: Blog Posts, Apex Webinar
This past January, Pinnacle presented an Apex webinar on the “Statements of Actuarial Opinion – Year End 2014” which discussed considerations when creating or reviewing a Statement of Actuarial Opinion (SAO) focusing on changes in the National Association of Insurance Commissioners (NAIC) guidance memo. Feedback from this presentation indicated that future discussions of the Risk of Material Adverse Deviation (RMAD) section of the SAO, as well as how to interpret the role of the Chief Risk Officer (CRO) in assessing a company’s risk profile may be useful expansions of this general topic.
Laura Maxwell

NAIC ORSA Feedback Pilot Project

Are You at Risk for Not Being Ready for ORSA?

NAIC ORSA Feedback Pilot Project
Laura Maxwell August 14, 2015 Posted in: Blog Posts, ORSA
The National Association of Insurance Commissioners has completed their third Own Risk Solvency Assessment (ORSA) Feedback Pilot project. The number of states participating has grown from 12 in 2012, 16 in 2013 to 26 in the 2014 study. The number of companies participating in the pilot projects has also grown from 14 in the 2012 study to 28 in the 2014 study.

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