The Balancing Act of Captive Management: A Unified Approach to Actuarial Analysis and Audit Requirements

May 16, 2024

About This Session

Insurance companies today face unprecedented challenges as inflation reshapes the financial landscape. This comprehensive webinar addresses how rising costs impact investment portfolios, operating expenses, and claim payouts—while providing actionable strategies for managing one of the industry's most critical processes: estimating liabilities for unpaid claims.

What You'll Learn

  • How inflation complicates loss reserve estimation
  • Recent auditing standard updates and requirements
  • Methodology and assumption validation techniques
  • Comprehensive data analysis approaches
  • Supporting documentation for point estimates
  • How auditors evaluate reserve estimates
  • Evidence-based assessment criteria
  • Management's selection rationale importance

The Auditor's Perspective
Gain insights into how auditors evaluate reserve estimates, focusing on evidence-based assessment criteria and the importance of understanding management's selection rationale.

Resources

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Who Should Watch

  • Actuaries
  • Auditors
  • Financial Professionals
  • Insurance company executives
  • Anyone involved in loss reserve management and compliance

Speakers

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Lauren Darr
Partner

Lauren Darr, CPA, is a Partner with Johnson Lambert, a multi-office, niche-focused firm that provides audit, tax, and consulting services to insurance entities as well as nonprofits and employee benefit plans. With more than a decade of insurance experience, she specializes in providing audit and consulting services to property-casualty insurers and related service entities, with a sub-specialty in the medical professional liability space. Lauren is a member of the firm’s Technical Committee and is actively involved in the industry as she attends NAIC meetings on behalf of Johnson Lambert. Additionally, she represents the firm on the AICPA Insurance Expert Panel and is a member of the Joint Trial Board. She is a frequent author and speaker on insurance-focused technical topics.

Colin Donovan
President

Colin Donovan is the President of STICO Mutual Insurance Company, RRG. STICO Mutual specializes in providing general liability, pollution liability, and contractual liability insurance to 170+ storage tank, process vessel, and related equipment manufacturers and petroleum equipment contractors throughout the nation.  

Colin currently serves on the Board of Directors for the National Risk Retention Association (NRRA) and has previously served on the Board of Directors for the Captive Insurance Companies Association (CICA).

Darcie Truttmann
Senior Consulting Actuary

Darcie has considerable experience in assignments involving loss reserving, funding studies, cost allocation mechanisms, loss cost projections, captive feasibility studies and financial analyses of insurance companies. She is familiar in applying her expertise to all kinds of alternative market program structures from group captives to large deductible programs.