R. Michael Lamb
Fellow of the Casualty Actuarial Society (1975)
Member of the American Academy of Actuaries (1976)
Master of Business Administration (University of Washington 1971)
Equipped with an MBA in finance and quantitative methods from the University of Washington, Mr. Lamb began work as an actuary with Wausau Insurance Companies in Wausau WI 1971-1975. Rotating through assignments in pricing, reserving, financial reporting, and corporate planning, he refined an insightful ability to recognize misstated liabilities and pricing inequities. Some of his main responsibilities included upgrading and maintaining the company's multi-line retrospective rating and dividend programs. He researched and redesigned the reserving process for group health coverage.
Mr. Lamb became the first credentialed casualty actuary for the Oregon Insurance Division in 1975, when few state insurance departments had actuaries. His primary responsibilities were pricing of workers compensation, medical malpractice, and other stressed casualty insurance markets. Michael supported legislative studies and was a primary crafter of legislation and administrative rules, particularly for competitive rating for workers compensation. He chaired the technical workgroup that designed the NAIC Medical Malpractice Closed Claim Study.
In 1984, Mr. Lamb left Oregon to become Associate Actuary for Argonaut Insurance Companies in Menlo Park, CA. He supported workers compensation pricing companywide, with particular responsibility for developing pricing strategies in competitive rating states.
At the request of the Insurance Commissioner, Ted Kulongoski (now Governor of Oregon), Michael returned to the Oregon Insurance Division in 1987. He was again prominent in forming regulatory policy regarding insurance pricing, reviewing financial statements and actuarial opinions, and enforcing data reporting requirements for several casualty sublines. He frequently advised and interacted with industry executives, actuaries, labor, business, legislative, and other public stakeholders. For his insights on technical matters and their effect on public policy, one supervisor labeled him a "savant."
Michael actively participated in numerous workgroups for the National Association of Insurance Commissioners. He chaired the Casualty Actuarial Task Force from 1989 through 1992, participated in overseeing the 1991-1995 examination of the National Council on Compensation Insurance (NCCI) and chaired the 2000-2002 NCCI Multi-State Examination. He has served on professional standards committees and made several presentations at actuarial conferences.
Since taking an early retirement from the State of Oregon in 2003, Mr. Lamb has been an adjunct mathematics instructor at a local community college and now offers his consulting services.
Avocations include the Salem Interfaith Hospitality Network, a service to homeless families, where Mr. Lamb has been on the Board of Trustees since organization in 1998. He has umpired Little League baseball and softball since 1991 and high school baseball since 2003.
A more detailed resume including presentations, papers, and references is available by e-mail upon request.