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ASB Approves Exposure Draft on Property/Casualty Ratemaking

The ASB recently approved an exposure draft titled Property/Casualty Ratemaking. This exposure draft was created in conjunction with the effort currently being undertaken by the Casualty Actuarial Society (CAS) to explore revisions to the Statement of Principles Regarding Property and Casualty and Ratemaking. Concurrent with the release of the ASB’s exposure draft, the CAS is releasing a second exposure draft of the Principles of Ratemaking.

With the release of the ASB’s exposure draft, feedback is being sought on such issues as whether the scope of the ASOP is sufficiently clear and whether the items currently included in the Considerations Section of the CAS Principles (and slated for possible removal) are sufficiently addressed in the draft ASOP.

The comment deadline for the exposure draft is January 31, 2015. The exposure draft can be viewed here.

The CAS’ Principles of Ratemaking second exposure draft can be viewed here.

2014 Academy Annual Meeting