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Casualty Actuarial Services



Michael Lamb LLC tailors services for the special needs of each client and project.  Here are some of the services clients may appreciate:


Reserve analysis

            Opinions on loss and loss adjustment expense liabilities

            Insightful recognition of other liabilities


Besides applying current mathematical methods to describe and project historical patterns, your actuary needs to investigate legal, administrative, contractual, and human behavioral patterns that define how losses/claims arise, are managed, and come to payment.  We must understand the past before we can know how it resembles the future.


Rating system design

            Optimizing rating variables and values

            Risk assessment and rate setting for self-insureds


Does your actuary understand the political and regulatory perspectives about rating fairness?  Mathematical correlations are not always convincing and sometimes lead to unwise strategies.  Your actuary should help you discern workable assessments.


Dividend programs

            Safe, fair, equitable return of excess underwriting funds


The science of dividends is similar to that of rating plans, but with some further fairness considerations, such as reserving biases and the reasonableness of behavior incentives.  Your actuary will need to understand the claim/loss data and the relations between participants.



When differing parties need to recognize, plan, and accept values for future contingencies


Lamb LLC recommends methods of principled negotiation such as developed by the Harvard Negotiation Project.  An arbiter should research the factual base understood by each party, then focus on their interests and guide them toward finding options for mutual gain.


Rate filings

            Preparation or review of filing support information

            Representation at hearings


Your actuary should help you know what historical data or other research you need to assemble to support your proposals.  Respect for filing rules is the best way to get through to today's overburdened regulator.  A call to Lamb LLC is an easy way to benefit from decades of other peoples mistakes.


Technical correspondence or marketing material

            Helpful research and understandable language


Plain speaking is a Biblical principle and good business.  Lamb reports are specifically designed to be interesting and understandable to the client and not misleading.  If you have problems with your own technical materials, please call.


Profitability or Cash Flow analysis

            Historical studies or projected forecasts


The reasonableness of implied cash flows is a solid test of actuarial models.   Your actuary needs to thoroughly understand your operations and risks to make accurate model assumptions.  Lamb models are tailored to fit your reality.


Regulatory assistance

            Excellent and knowledgeable relations with state insurance departments


The Lamb LLC client base includes both regulators and those they regulate.  Service to regulators focuses on understanding technical aspects of casualty insurance for the just, reasonable, and ethical protection of the public.  Lamb can assist regulated clients by first reviewing products for aspects regulators may find objectionable and then with access and presentation to regulators.  Clients must desire that their products serve a valid public interest.


Peer Review for other actuaries


Lamb LLC offers other small firm actuaries an opportunity to enhance the quality, accuracy, and confidence in their work product.  Peer review creates an exchange of ideas that might not otherwise occur and reduces the likelihood of errors of all types.


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