The ASB has issued a Request for Input concerning the development of an actuarial standard of practice (ASOP) that would address the actuarial aspects of property/casualty rate filings submitted to state insurance departments. The proposed standard would provide guidance to actuaries regarding the actuarial aspects of a rate filing for the filing actuary, the regulatory actuary, and the reviewing actuary. Therefore, the ASB is interested in the views of actuaries, other parties involved in the determination of rates and the preparation and/or review of rate filings submitted to state insurance departments, and any others who have opinions on the matter of the actuarial aspects of the insurance rate filing process.
The Request for Input document can be found here. Deadline for receipt of input is February 28, 2020.