Auto Insurance

Letter Urging CASFT to Reject the CAS Draft SOP on Ratemaking

Bob Hunter has issued a statement to the Casualty Actuarial and Statistical (C) Task Force of the National Association of Insurance Commissioners suggesting that the Draft Statement of Principles (SOP) proposed by the Casualty Actuarial Society (CAS) should be rejected because they open the door to unfairly discriminatory practices and weaken the long-standing actuarial standards that have guided the actuarial profession to develop rates that are based on the cost of transferring risk.