2022-09-30 – The Impact of Inflationary Trends on your Captive

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The Impact of Inflationary Trends on your Captive
The economy and insurance industry have been transformed over the past few years by significant disruptors such as COVID-19, cyber attacks, and the return of both general inflation and social inflation. The combination of these factors has contributed to a hardening property and casualty (P&C) marketplace, resulting in higher premiums, policy restrictions and/or exclusions, and even some carriers pulling out of certain markets or having insureds take on more risk through higher retentions.  Captive management becomes heavily engaged and under increased pressure when inflation distorts budgets and profit margins shrink.  The strategic use of a captive and its benefits are more important now than ever.  What are strategies to keep a captive immune to inflation?  This session will address key questions such as with a main focus on liability coverages:

  • What is inflation, social inflation and its causes and drivers?
  • How does inflation impact data, metrics, and forecasts?
  • What impact did COVID-19 make?
  • What are strategies to best deal with and mitigate inflation?
  • How is the claims management process affected?
  • What is the expectation going forward?

Richard Frese
Principal and Consulting Actuary

Richard Frese, FCAS, MAAA is a Principal and Consulting Actuary with Milliman, Inc. in Chicago, IL. He is a Fellow of the Casualty Actuarial Society and is a member of the American Academy of Actuaries. Richard’s expertise in property and casualty primarily involves loss reserving and forecasting. Richard’s presentations include the annual ASHRM conference, Cayman Captive Forum, Crittenden Medical Insurance Conference and national RIMS conference. He has published articles in nationwide insurance publications including Business Insurance, Risk Management, Physician Insurer, Healthcare Financial Management and Risk & Insurance.

Melinda Malecki
General Counsel

Melinda Malecki is the General Counsel of Loretto Hospital. Ms. Malecki is a Health Law attorney with over 25 years of corporate, regulatory, and risk management experience. She provides legal counsel, corporate compliance, and risk management services to Loretto Hospital Administration and staff. She is responsible for the legal functions of the Hospital. Part of her role is to manage the claims of the Hospital’s captive insurance company, Westside Insurance.

Eric J. Wunder
Principal and Consulting Actuary

Eric is a Principal and Consulting Actuary with the Milwaukee office of Milliman. He joined the firm in 2009. Eric’s area of expertise is with long-tailed lines business.

Eric assists clients with reserving, pricing, statements of actuarial opinion, pro-forma projections, captive feasibility studies, stochastic modeling, due diligence support for mergers and acquisitions, AM Best rating reviews, and the new legislation impact analyses.

Eric is a frequent author for Medical Liability Monitor and Inside Medical Liability and has presented at WRCIC, ExecuSummit, and several MPLA conferences.