Managing a Loss Reserving Department and Communicating Results Ronald E. Greco Vice President & Corporate Actuary Unitrin Casualty Loss Reserve Seminar.

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Presentation transcript:

Managing a Loss Reserving Department and Communicating Results Ronald E. Greco Vice President & Corporate Actuary Unitrin Casualty Loss Reserve Seminar Las Vegas, Nevada September 14, 2004

09/14/2004Ronald E. Greco2 Levels of Management Board of Directors Chief Executive Officer Chief Financial Officer Chief Accounting Officer Operating Unit Heads Chief Claims Officer Tax Manager Outside Auditors

09/14/2004Ronald E. Greco3 Information Presented Appointed Actuary’s Report Carried Reserves Reserve Ranges Metrics Ultimate Loss Selections Reserving Methods and Selections Special Reserves

09/14/2004Ronald E. Greco4 Reserve Ranges

09/14/2004Ronald E. Greco5 Reserve Metrics

09/14/2004Ronald E. Greco6 Average Premium

09/14/2004Ronald E. Greco7 Ultimate Loss Ratio

09/14/2004Ronald E. Greco8 Ultimate Claim Frequency

09/14/2004Ronald E. Greco9 Ultimate Claim Severity

09/14/2004Ronald E. Greco10 Selected Ultimate Loss Dollar Change

09/14/2004Ronald E. Greco11 Selected Ultimate Loss Percent Change

09/14/2004Ronald E. Greco12 Reserving Methods & Selections

09/14/2004Ronald E. Greco13 Asbestos

09/14/2004Ronald E. Greco14 Environmental

09/14/2004Ronald E. Greco15 Construction Defect

09/14/2004Ronald E. Greco16 Mold

09/14/2004Ronald E. Greco17 Ceded Reserves

09/14/2004Ronald E. Greco18 Reinsurers