FCAS, MAAA, CPCU, ARM, ARe
Principal and Consulting Actuary

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Arthur R. Randolph II

Arthur Randolph is a principal and consulting actuary with Pinnacle Actuarial Resources, managing the firm’s Atlanta, Georgia, office. He has been in the insurance industry since 1998 and has been consulting since 2001. Mr. Randolph’s consulting career has focused on medical professional liability (MPL), homeowners, workers’ compensation (WC), commercial and personal automobile, general liability and commercial multiple peril exposures. 

Mr. Randolph provides actuarial consulting services to property and casualty (re)insurers, self-insured entities, risk retention groups (RRGs) and captive insurers. His core services include reserving, ratemaking, risk transfer testing, funding allocations, and developing experience and retrospective rating plans.

 

Mr. Randolph is a member of the American Academy of Actuaries (AAA) Medical Professional Liability Committee, the AAA Workers’ Compensation Committee and the Alabama Actuarial Council. He is actively involved with Association of Government Risk Pools (AGRiP), California Association of Joint Powers Authorities (CAJPA), Captive Insurance Companies Association (CICA), CPCU Society, Florida Chamber of Commerce, Insurance Accounting and Systems Association (IASA), International Association of Black Actuaries (IABA) and MPL Association.

Publications and Media

November 2020 APEX Webinar
State of the Florida Homeowners Market
Authored by Derek W. Freihaut and Arthur R. Randolph II.

November 15 2018 APEX Webinar
State of the Florida Homeowners Market
Authored by Derek W. Freihaut and Arthur R. Randolph II.

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Case Studies

Captive Feasibility Study

Captive Feasibility Study

When a regional physicians group, with a moderate deductible program realized they were not getting due credit for more than a decade of exceptional loss experience, they decided to explore other options.

They chose Pinnacle specifically due to our expertise in captive and self-insurance programs.

Initially, Pinnacle discussed options including segregated cell captives, single parent captives, and even risk retention groups once they began to consider marketing the program to other similar regional physician groups.

While the customer was considering the structural alternatives, Pinnacle pursued a funding analysis. Credibility weighting the customer’s experience with industry benchmark data, produced estimates of expected losses and loss variability in several different loss layers. This not only showed the additional risk associated with higher limits of self-insurance, but was also tremendously valuable in negotiations with fronting carriers and reinsurers.

The client decided to increase the deductible on the coverage provided by their insurer, which offered more responsive pricing due to Pinnacle’s funding analysis and to form an off-shore captive providing deductible buyback coverage.  The comfort level our client had with the insured’s services also influenced the decision.

Pinnacle also worked with the captive manager to develop the feasibility study and pro forma financial statements that become the foundation of the captive application. The application was approved as submitted and the captive is running quite successfully.

Catastrophic Risks

Catastrophic Risks

Pinnacle was retained by an insurance company specializing in catastrophic risk to identify and test alternative sources of risk financing capacity including traditional reinsurance and catastrophe bonds. In order to complete the project, Pinnacle designed a dynamic financial model to determine the cost/benefit of alternate risk financing strategies.

Product Management

Product Management

One of our long-standing regional carriers had entered into a new market and asked for Pinnacle’s assistance in bringing their product and processes up-to-date. With Pinnacle’s product, pricing and product management expertise, we were able to provide a wide range of services to our client. Not only did we develop a new rating plan, we also drafted a completely new rate manual and rate pages. Pinnacle also reviewed their Underwriting guidelines and worked with the client to draft new guidelines consistent with the new rating plan and client risk appetite. Pinnacle followed the review through to reviewing system specifications, forms and competitive position and preparing the rate filings. In addition, Pinnacle was able to provide suggestions on customer notifications, agent notifications and ways to track the progress of the new program.

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