Consulting Services to Insurance Regulators
June 20, 2018
Why States Should Perform MLR Exams and What Do I Need to Know
Authored by: Barbara Bartlett and Christopher Rushford Published in: SOFE: The Examiner, Summer 2018 The Medical Loss Ratio (MLR) ensures that policyholders receive value for the premium they pay for their health insurance coverage. The MLR exams are about validating that health insurance issuers (issuers) offering commercial individual or group health insurance coverage are complying...
June 16, 2018
A Review of Root Cause in Insurer Insolvencies and Impairments
Authored by: Dave Heppen and Veronika Cooper Published in: SOA, The Financial Reporter, June 2018 In 2016 and 2017, we conducted a study of root causes in insurer insolvencies and impairments, with the focus on analyzing potential risk factors and prevention measures. The study was sponsored by the Canadian Institute of Actuaries, Casualty Actuarial Society...
June 14, 2018
I Don’t Have to Worry About PBR for Health Insurance, Right
Authored by: Patricia Matson and Leslie Jones Published in: SOA, The Financial Reporter, June 2018 Well, we hate to say it, but that is not correct. While it may be true that, in general, the current post- PBR standards are similar to the pre-PBR standards at the moment, the truth clarify is the is that...
January 12, 2018
RRC Response to the NAIC Big Data (EX) Working Group regarding the Regulatory Framework – Proposed Structure and Issues for Discussion
From: John Humphries, Dave Heppen, and Debbie Rosenberg - Risk & Regulatory Consulting, LLC To: Tim Mullen, NAIC Director of Market Regulation Risk & Regulatory Consulting, LLC (“RRC” or “we”) supports the efforts of the Big Data (EX) Working Group (“Working Group”) to outline a process for determining whether changes to the current regulatory framework...
December 30, 2017
Is “Everyone” in Your Family Insured?
Authored by: Parker Stevens Published in: IRES: The Regulator, Winter 2017 Is everyone in your family insured? I’m not talking about your spouse or your children, I’m talking about your pets. As a pet owner of two dogs, a cat and a horse, I often feel like I’m always at the vet’s office for something....
September 29, 2017
RRC Response to the revision of the NAIC Own Risk and Solvency Assessment (ORSA) Guidance Manual to be published in December 2017
From: Tricia Matson, LeeAnne Creevy, and Nan Nguyen To: Christy Neighbors, Chair (Nebraska), Group Solvency Issues (E) Working Group The National Association of Insurance Commissioners (“NAIC”) Group Solvency Issues (E) Working Group (GSIWG) sent out a revision of the NAIC Own Risk and Solvency Assessment (ORSA) Guidance Manual (“the Guidance Manual”) and requested public comments....
July 28, 2017
RRC Response to the NAIC Big Data (EX) Working Group regarding the Shared Resource-Complex Models Proposal
From: Tricia Matson and Dave Heppen To: Commissioner Laura Cali Robison (OR), Chair, NAIC Big Data (EX) Working Group(E) Working Group Risk & Regulatory Consulting (“RRC” or “we”) supports the efforts of the Big Data (EX) Working Group (“BDWG”) to create a mechanism that increases the resources available to states for the review and collection...
June 11, 2017
Long Term Care Insurance – A Long Term Problem
Authored by: Wayne Johnson, Tricia Matson, Jan Moenck, and Andy Rarus Published in: The Insurance Receiver, Summer 2017 The average life expectancy in the United States in 1970 was 70.8 years, just over a one year increase from the average life expectancy in 1960 (1). It is against that backdrop that Long-Term Care Insurance (LTCI)...
August 18, 2016
Big Data and the Insurance Industry
Authored by: Darin Benck and Michael Descy Published in: SOFE: The Examiner, Fall 2016 What is Big Data? Big data is an evolving term that can be simply defined as data that is too large and/or too complex to analyze with traditional data processing technologies. Technology industry analyst Doug Laney introduced the concept of the...
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RRC Response to the Questions in the NAIC Group Capital Calculation Working Group