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Commentary on NAIC’s Casualty Actuarial and Statistical Task Force White Paper – “Regulatory Review of Predictive Models”
Greg Frankowiak March 24, 2020 Posted in: Blog Posts, News, Predictive Analytics

While predictive analytics can provide significant benefits to insurance companies and customers, the rapid pace at which analytics is evolving and the relative complexity of some of the models used poses a significant challenge to state regulators who are charged with reviewing and approving such models. The National Association of Insurance Commissioners (NAIC) recognized this emerging issue and created the Casualty Actuarial and Statistical Task Force (CASTF), which has been charged with identifying best practices to guide state insurance departments in their review of predictive models for underlying rating plans. Over the course of the last year, the CASTF has released multiple drafts of the white paper “Regulatory Review of Predictive Models” for public comment. And comment the public has! Numerous letters have been submitted from trade associations, actuarial organizations, credit agencies, consumer groups and even insurance departments to provide their input on the lengthy white paper.

Reflections on the 2019 DCIA Spring Forum
Michael Paradiso June 10, 2019 Posted in: Blog Posts, Captives, News
The Delaware Captive Insurance Association (DCIA) held its Spring Forum May 7-8 at the Chase Center in Wilmington, Delaware. Captive service providers, captive owners and Delaware’s captive regulators gathered in attendance for sessions covering a range of relevant topics. The conference carried regulation as its unofficial theme, perhaps not unexpectedly, with each session analyzing a different aspect or angle. The impact of politics on captive regulatory decisions, the legal hurdles of insuring the key players of the cannabis industry, and the various state-specific treatments of self-procurement tax were a few of the topics covered.
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