Services

Insurers

Pinnacle understands the unique requirements of insurers and the challenging business and market environments they operate in. To meet these challenges and chart a path to success, you need a strategic partner that can focus on actuarial issues such as pricing and reserving while also keeping you apprised of the latest innovations in rating and underwriting.

Whether you need to develop an enterprise risk management program, help in identifying best practices for your industry or expert insight and analysis for a wide range of projects, our team of experts are focused on doing whatever it takes to exceed your expectations, time and time again. Pinnacle has helped dozens of insurers with projects from state-of-the-art rating plans to underwriting scorecards, from more refined rating territories to by-peril rating for homeowners. We have deep experience in both personal and commercial lines and have worked with small, medium and large insurers. We also do special projects in a variety of areas such as retention studies, mergers/acquisitions, deciding whether to enter or withdraw from certain lines, and filing assistance.

We also perform analysis of the amount of risk transfer in companies reinsurance contracts necessary for documenting the risk transfer file. As well, we routinely perform second opinions on the indicated unpaid claim liabilities for companies that may have concerns about the reasonableness of the loss and loss expense reserve projections by their current Appointed Actuary.

Our industry knowledge includes:

  • Commercial Auto
  • Commercial Multiple Peril
  • Commercial Property
  • General and Products Liability
  • Homeowners
  • Medical Professional Liability
  • Non-Medical Professional Liability (e.g., Lawyers, Accountants, Architects)
  • Personal Auto
  • Specialty coverages
  • Pollution
  • TRIA
  • Workers Compensation

Publications and Media

Determining Risk Distribution
Best's Review Issues & Answers
Authored by Derek W. Freihaut.

July APEX Webinar
Causes of Recent Reserve Development
Authored by Erich A. Brandt and Gregory W. Fears, Jr..

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Case Studies

Asbestos Liabilities
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Asbestos Liabilities

In 2009, Pinnacle provided expert testimony about the evolution of insurance industry asbestos liabilities in an arbitration hearing among several insurance companies and a pool manager. This assignment drew on our knowledge of the history of insurance industry asbestos liabilities, e.g., the evolution of the legal aspects surrounding coverage determinations, the interplay of primary, excess and reinsurance contracts, the history of failed attempts to control the problem and the impact of bankruptcies among other factors. The assignment also drew on our mass tort / latent liability reserving expertise.

Baltimore Territory Issues
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Baltimore Territory Issues

In 2006, Pinnacle was retained by a group of several automobile insurance companies representing a significant share of the Maryland automobile insurance market to conduct an independent actuarial analysis of the Abell Foundation report, Actuarial Discrimination: City Residents Pay Up To 198% More For Car Insurance Than County Residents (Abell report). This report discusses many factors which contribute to higher automobile insurance rates in urban areas than rural areas with particular emphasis on Baltimore and attempts to quantify the magnitude of this as noted by the title of his report.

Competitive Analysis - Commercial Lines
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Competitive Analysis - Commercial Lines

Pinnacle was approached by a major national commercial lines insurer to provide comprehensive competitive analysis of the businessowners policy (BOP) and commercial automobile insurance market places. Pinnacle’s analysis began with a comprehensive review of the products filed by the leading twenty insurers of these products examining coverage features, rating elements, tiering and scoring elements, unique coverage features and several other key product development elements. Following this initial step, Pinnacle performed detailed territory and premium comparisons for several states using a dynamic premium comparison engine that allowed investigation at the class, coverage amount and territory level of detail. The company used a batch rating feature to develop indicated rate level estimates. Mapping features looking at ranking and pricing differences were also produced. All of this information was incorporated into a countrywide overhaul of the company’s products and pricing.

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