FCAS, MAAA, CSPA
Director and Consulting Actuary
California Homeowners Insurance – Availability and Affordability as Wildfires Burn
Jan 7, 2021
Pandemic and Apocalyptic Skies – 2020 in the Bay Area
Oct 13, 2020
Autonomous Vehicles and the Future of Auto Insurance
Mar 27, 2018
See all »
Laura Maxwell is a director and consulting actuary with Pinnacle Actuarial Resources in the firm’s San Francisco, California office. She holds a bachelor’s degree in mathematics from Moravian College. She has worked in the property/casualty insurance industry since 1987 and has provided consulting services since 2003.
Ms. Maxwell currently serves the Casualty Actuarial Society (CAS) as a member of the Casualty Loss Reserve Seminar Planning Committee, E-Forum Committee, and syllabus part vice chair of the Syllabus and Examination Committee. She is a member of the American Academy of Actuaries (AAA) Cyber Risk Task Force and a member of the Actuarial Science Advisory Board at the University of the Pacific.
Prior to consulting, she was a product manager for a direct auto insurer and held actuarial positions with a state insurance department and national rating bureau. Her background includes personal and commercial lines pricing and reserving.
Pinnacle Promotes Laura Maxwell and Jordan Paszek
Authored by Laura A. Maxwell and Jordan R. Paszek.
December 17 2020 APEX Webinar
Actuarial Standards of Practice: Modeling and Assumptions
Authored by Laura A. Maxwell and Kendra Letang and Radost Roumenova Wenman.
See More »
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.
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.
Pinnacle was retained by a major national political organization to investigate the impact of several workers compensation reforms including: implementation of mandatory managed care, privatization of state workers compensation insurance funds and the permitting of private insurers to enter previously monopolistic workers compensation states. Our analysis looked at state-level differences in rate levels, insurer experience, coverage competition, the mix of medical and indemnity claims and numerous other metrics. The study was extremely well received and ultimately presented to more than half of the nation’s governors.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
July 13, 2021
July APEX Webinar -
Causes of Recent Adverse Development