To Finalize Price Optimization White Paper, NAIC Casualty Actuarial and Statistical Task Force Schedules Three Webinars
Sep 2, 2015
Above: Colodny Fass’ Donovan Brown Notes NAIC Will Hold Three Webinars to Finalize Price Optimization White Paper
Three Webinars have been scheduled during the next month to prepare the National Association of Insurance Commissioners’ (“NAIC’s”) draft Price Optimization White Paper (“White Paper”) for adoption at the NAIC’s Fall National Meeting.
To view the White Paper, click here.
The NAIC’s Casualty Actuarial and Statistical Task Force will hold the Webinars from 1:00 p.m. to 2:00 p.m. (CT) on the following dates:
- Tuesday, September 29, 2015
- Tuesday, October 13, 2015
- Tuesday, October 27, 2015
After the comment period ending September 14 (which was extended from the original due date), the drafting group will present the redrafted White Paper for discussion on the September 29 call. Then, after each call, the NAIC staff will edit the White Paper and redistribute for the next call.
The NAIC issued the following instructions to participate on the call:
For the Webinar (visual portion) no registration is required. Go to:
- Click on link at the day and time of call
- Choose “Enter As Guest” option
- Enter your name and state
To participate on the audio portion of the Webinar (registration IS required and all participants are strongly encouraged to pre-register for the conference call) go to:
- Tuesday, September 29, 2015: http://dpregister.com/10071833
- Tuesday, October 13, 2015: http://dpregister.com/10071839
- Tuesday, October 27, 2015: http://dpregister.com/10071843
Registration can be done at any time prior to the call.
Those without Internet access or unable to pre-register may dial (412) 902-6510 or (877) 270-2148 and ask for the CASTF/DeFrain Call.
To register for an IP Code click here: https://services.choruscall.com/client/naic/registration/
After obtaining the IP Code, simply follow the instructions above to register for the conference in question.
The White Paper initiative originated when the NAIC undertook the study of the availability and affordability of auto insurance after the 2013 Federal Insurance Office Regulatory Modernization Report identified insurer data mining activities as a problem manifested by insurance price optimization practices.
The issue of price optimization was initially heard by the NAIC’s Auto Insurance Study Group during December 2013. After comprehensive evaluation, it was decided that, because the topic extends beyond auto insurance and requires a great deal of actuarial expertise, further research on it, as well as its regulatory implications, would best be handled by the Casualty Actuarial and Statistical Task Force–part of the NAIC’s Property and Casualty Committee. The Task Force will ultimately respond to the Auto Insurance Study Group in the form of the White Paper.
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