Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Regulators are developing a more sophisticated view of catastrophe risk to match the increasingly nuanced techniques used by the markets they oversee. Milliman can provide essential support to regulators and other governing bodies on the topic of catastrophic risk.
Milliman has extensive experience participating in financial examinations under the NAIC’s Risk-Focused Examination framework. For larger (re)insurers, catastrophes often represent one of the larger solvency risks, thus requiring significant attention during the course of the exam. Milliman’s catastrophe expertise in both pricing and reserving makes it an ideal partner for the actuarial aspects of a financial exam review.
State insurance departments have taken a variety of approaches when confronted with output from unfamiliar models, particularly natural catastrophe models, as part of a rate filing. Some states, such as Florida, have undertaken full reviews of certain major catastrophe models and created a list of “acceptable” models which may be used in rate filings. Others have taken a more as-necessary approach in these situations.
In either case, Milliman can assist regulators in the exercise of reviewing and testing catastrophe models or reviewing rate filings in catastrophe-heavy geographies and lines of business.
Aaron Koch is a principal and consulting actuary based in Northern Virginia. He joined Milliman in 2011.
Karl is a principal and consulting actuary with Milliman. He joined the firm in 1999. He works primarily for Bermuda-based clients.
Ask the tough questions. We’re ready for them.