March 29, 2021 1 min read

CFA Urges NAIC to Continue Using Principles in Insurance Ratemaking Despite CAS's Position

CFA TC

On March 9, 2021, the NAIC’s regulatory actuaries (CASTF) unanimously voted to request that the Casualty Actuarial Society (CAS) reverse their rescission of the Principles actuaries have followed for decades in establishing the premiums policyholders pay for coverage. The CAS Board rebuffed the CASTF request at their March 27, 2021 meeting.

In light of the CAS Board’s refusal to reverse its action, CFA has asked the NAIC in a letter, to act by indicating their intent to continue to use the Principles in regulation of insurance rates and begin the process toward adopting the rescinded Principles as an interim set of standards for actuaries (or, at least, for regulatory actuaries) to follow in making/approving final insurance rates in America.

Related Articles

CFA TC
July 14, 2026 / Reports
Redlined

The Persistence of Racial Inequality in the Cost of Homeowners Insurance

CFA TC
July 14, 2026 / Press Releases
Black and Hispanic Homeowners Pay Hundreds of Dollars More Annually for Homeowners Insurance

“Racial Premium Gap” Adds Up to $15,000 in Additional Insurance Costs for Black Consumers and $28,500 for Hispanic Consumers Over a 30-Year Mortgage

CFA TC
June 26, 2026 / Testimony & Comments
CFA Letter of Support for AB 2038 to the California Legislature
CFA TC
June 11, 2026 / Blogs
Like a Bad Neighbor: State Farm’s Treatment of California Consumers After The Los Angeles Wildfires