This committee works on Risk-Based Capital (RBC) and related solvency management tools. It monitors the performance of, and suggests enhancement to, the RBC methodology used by the National Association of Insurance Commissioners (NAIC). The committee is involved in a review of the current RBC approach and ways to improve it in the context of the Solvency Modernization Initiative. Some of the committee work is done at the request of the NAIC; there is significant interaction between the committee and the NAIC's Property Risk-Based Capital Working Group. The committee provides actuarial input on all RBC and solvency issues and ensures its communication to all relevant audiences.
Staff liaison:
Chairperson: Ron Wilkins
Wayne Blackburn
Lesley Bosniack
Thomas Botsko
Wanchin Chou
Jacob Fetzer
Denis Guenthner
Allan Kaufman
Sandra Schrader
Tina Shaw
David Shleifer
Jeremy Smith
David Traugott
Jianhui Yu
Ron Wilkins, chairperson of the P&C Risk-Based Capital Committee, presented to the NAIC Property and Casualty Risk-Based Capital (E) Working Group and the Catastrophe Risk (E) Subgroup on the Academy’s recently released report to the NAIC on P&C Underwriting Factors and Investment Income Adjustment (IIA) Factors.
( November 16, 2023 )
The P/C Risk Basked Capital Committee released a Report to the NAIC P&C RBC (E) Working Group Update to P&C RBC Underwriting Factors and Investment Income Adjustment Factors.
Ronald Wilkins, vice chairperson of the Property and Casualty Risk-Based Capital (P/C RBC) Committee, presented an update to NAIC's Property and Casualty Risk-Based Capital (E) Working Group on the committee's upcoming report on Underwriting Factors and Investment Income Adjustment Factors.
Ronald Wilkins, Vice Chairperson of the Academy's Property and Casualty Risk-Based Capital (P/C RBC) Committee, presented preliminary results to the NAIC's Property and Casualty Risk-Based Capital (E) Working Group to recalibrate the reserve and premium risk charges, notably, for investment income.
David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on premium risk and Investment Income Adjustment to the NAIC's P/C RBC (E) Work Group.
( October 25, 2021 )
David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on P/C RBC underwriting factors experience to the NAIC's P/C RBC (E) Work Group.
The Academy’s Property and Casualty Risk-Based Capital Committee issued a report to the National Association of Insurance Commissioners’ (NAIC) Property and Casualty Risk-Based Capital (E) Working Group in which it presents indicated Line of Business Underwriting Risk Factors for the P&C RBC Formula.
P/C RBC Committee scope letter to NAIC outlining project for new assessment of several elements of underwriting risk in the risk-based capital formula for P/C insurers.
Report to the NAIC Investment Risk-Based Capital (E) Working Group, Health Risk-Based Capital (E) Working Group, and Property and Casualty Risk- Based Capital (E) Working Group on indicated bond risk factors for the Property Casualty Risk Based Capital Formula (P&C RBC Formula) and the Health Risk Based Capital Formula (Health RBC Formula).
( July 29, 2018 )Joint P&C/Health Bond Factors Analysis Work Group discussion draft of a report to the NAIC’s Joint Health RBC and P/C RBC Drafting Group on bond factors on risk charges for speculative grade (SG) bonds. ( May 28, 2018 )
Joint P&C/Health Bond Factors Analysis Work Group discussion draft of a report to the NAIC’s Joint Health RBC and P/C RBC Drafting Group on bond factors.
( January 31, 2018 )
Comment letter submitted jointly by the P/C RBC Committee and the Health Solvency Subcommittee regarding changes to corporate bond factors being considered by the NAIC’s Investment Risk-Based Capital Working Group. ( July 25, 2017 )
Joint Property and Casualty Risk-Based Capital Committee and Health Solvency Subcommittee letter to the NAIC's Operational Risk Subgroup on proposed changes to the operational risk factor in risk-based capital (RBC) formulas for property/casualty and health. ( December 19, 2016 )
Property and Casualty Risk-Based Capital Committee report to the NAIC's Property/Casualty Risk-Based Capital (E) Working Group providing a detailed update of property and casualty risk-based capital underwriting factors. ( October 28, 2016 )
P/C Risk-Based Capital Committee comments to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula. ( November 10, 2015 )
Catastrophe Risk Subcommittee of the P/C Risk-Based Capital (RBC) Committee comments to the NAIC’s Catastrophe Risk Subgroup on the proposal to revise the calculation of catastrophe risks R6 and R7 for the 2015 reporting year. ( June 12, 2015 )
RBC Catastrophe Risk Subcommittee comments to NAIC’s Catastrophe Risk (E) Subgroup on revised Form PR026 for the 2015 reporting year. ( May 22, 2015 )
P/C Risk-Based Capital (RBC) Committee comment letter to the National Association of Insurance Commissioners’ Property/Casualty Risk-Based Capital Working Group on methods of properly quantifying reserve and premium underwriting factors. ( March 13, 2015 )
Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues. ( January 07, 2015 )
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's (RAA) updated proposal on reinsurance credit risk factors. ( October 01, 2014 )
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's updated proposal on credit risk factors. ( May 12, 2014 )
Letter from Academy RBC work groups to the NAIC SMI RBC Subgroup regarding the NAIC’s Dec. 9 Operational Risk Proposal. ( January 30, 2014 )
Casualty Practice Council presentation by Academy Vice President Mike Angelina to the NAIC’s P/C Risk-Based Capital Working Group on underwriting risk charges in NAIC P/C risk-based capital. ( December 15, 2013 )
P/C Risk-Based Capital Committee comment letter to the National Association of Insurance Commissioners on the Reinsurance Association of America's discussion draft on reinsurance credit risk. ( October 08, 2013 )
Property/Casualty Risk-Based Capital Committee report to the NAIC’s Property/Casualty Risk-Based Capital Working Group on the reinsurance credit risk charge in NAIC Property/Casualty Risk-Based Capital. ( March 29, 2013 )
P/C Risk-Based Capital Committee letter to Solvency Modernization Initiative RBC Subgroup concerning CAS Working Party research on potential improvements to the NAIC's P/C RBC framework. ( July 10, 2012 )
Public policy practice groups comments to the NAIC on its draft white paper on the Solvency Modernization Initiative and insurance regulation offering suggestions encompassing RBC, ORSA, and NAIC model laws. ( April 30, 2012 )
Property/Casualty RBC Committee update in response to the NAIC's request for assistance with the Solvency Modernization project on the NAIC's Risk-Based Capital formulas. This update discusses the Committee's progress toward providing recommendations for improving the correlation/covariance methodologies used in the P/C RBC formula. ( July 21, 2011 )
P/C RBC Committee letter to the NAIC's P/C RBC Working Group regarding the Academy's joint report in response to the NAIC's request for assistance with its Solvency Modernization project on its RBC formulas. ( February 22, 2011 )