The Office of the Insurance Commissioner (OIC) is seeking qualified candidates for the position of Actuary 2 in our Rates & Forms Division. This position contributes to OIC goals of protecting consumers, maintaining a healthy insurance climate, and improving customer service by (1) reviewing property and casualty rate filings, (2) performing the actuarial components of property and casualty financial examinations, and (3) producing OIC's annual closed claim data summaries and report on medical malpractice insurance.
Primary duties include but are not limited to:
Review property and casualty and title rate filings:
Perform independent analyses to determine whether company rate requests are justified.
Evaluate reasonableness of insurers' data and actuarial methods.
Analyze data on losses, loss adjustment expenses, underwriting expenses, and profit provisions.
Ensure compliance with applicable statutes and regulations.
Participate in financial examinations of property and casualty insurers:
Interview insurance company staff to obtain information relevant to the actuarial analysis.
Review reports by the company's appointed actuary.
Obtain loss and loss adjustment expense data and other relevant data from the insurer.
Estimate loss and loss adjustment expense reserves using various appropriate and accepted actuarial methods.
Produce the annual medical malpractice statistical summary and report:
Communicate with closed claim data reporters regarding compliance with statutory requirements and accuracy of data.
Review reported closed claim data for reasonableness and accuracy and ensure that corrections are made as needed.
Research and collect market data and additional information.
BENEFITS OF WORKING FOR OIC
As an eligible state employee, Washington State offers:
About Washington Office of the Insurance Commissioner
The Office of the Insurance Commissioner (OIC) operates under the direction of the state's Insurance Commissioner, a statewide elected official. The agency's mission is to provide consumer protection and regulation of the state's insurance industry. With a workforce of approximately 240 employees, we are one of the smaller state agencies in Washington state government and are fortunate to have a s...table funding source that does not rely on the state's general fund.
The OIC values its employees and diversity in the workplace. We challenge our employees to continuously improve the way we do business, and to meet and exceed the needs of our customers. To learn more about this agency, we invite you to visit our website at www.insurance.wa.gov.