Our P&C Capabilities

Spring’s P&C (Property & Casualty) actuarial consultants work closely with clients to identify, evaluate and actuarially quantify risk be it auto, cyber, employers’ liability, general liability, medical professional liability, product liability, property, workers’ compensation, umbrella/excess and other enterprise risks. More specifically, quantifying risk entails traditional reserve or retention analyses, cost of risk minimization analyses, captive feasibility studies, issuing actuarial opinions and more.


Property & Casualty Risk Consulting

Core Services Client Types Key Industries (including but not limited to)
Captive Feasibility Studies Auditors Construction
Collateral Estimate Analyses Brokers Education
Financial Projections Captives Insurers Energy & Utilities
Funding/Pricing Analyses Insurance/Reinsurance Companies Healthcare
Loss Reserving Law Firms Manufacturing
Reinsurance/Risk Transfer Testing Regulators Not for Profit
Retention and Total Cost of Risk Analyses Mid-Sized to Fortune 500 Companies Private Equity
Simulation Analyses Risk Retention Groups Transportation & Logistics
Statement of Actuarial Opinions Self-Insured Entities

Additional Details

Captive Feasibility Studies and Other Captive Work

Spring is a leading firm in the captive space and performs captive feasibility studies for both new captive prospects and companies with existing captives looking to optimize their captive program. Spring’s feasibility studies often consider both P&C and employee benefits lines of insurance. Upon implementation of a captive solution, we perform the traditional regulatory annual reserve review and funding analyses. Our robust captive feasibility study process involves multiple departments; additional information can be found on our captive services page.

Collateral Estimate Analyses

Carriers require collateral for any insured who has a large deductible policy with them. This protects the carrier against the credit risk of the insured not reimbursing the carrier for claims within the deductible layer. Spring’s actuaries often perform independent reviews of the appropriate level of collateral based on an analysis of unpaid claims within the deductible layer.

Financial Projections

These are a common part of captive feasibility studies but also have broader applications. Spring’s team has extensive experience with providing the required expected and adverse pro forma financial projections for captive and risk retention group structures. Our simulation experts also run proforma simulations and develop results at various confidence levels to address required captive capital, probabilistic loss outcomes and other financial metrics at different confidence levels.

Funding/Pricing Analyses

Captive insurance companies, risk retention groups, and self-insured companies look to our actuarial team to determine on-going premium levels based on historical and project exposure, loss history, industry benchmarks, and insurance policy details. Premium development generally considers expected claim payments for the policy period, trend, the timing of those claims payments, anticipated investment income, operating expenses (other than claims) and risk/profit margin.

Loss Reserving

Captive insurance companies, risk retention groups, and self-insured companies are generally required to have an independent third-party conduct an annual reserve review on the insured exposures. We provide robust independent reserve analyses at the line of business level and in the aggregate. These analyses are used to support our Statement of Actuarial Opinions on reserve adequacy for numerous captive insurance companies. Our actuaries also work with key captive domiciles to review the reserving work of other actuaries.

Reinsurance/Risk Transfer Testing

We have significant experience with the various reinsurance structures utilized by captives, commercial carriers, and self-insureds. Our reinsurance risk transfer work starts with the review of a reinsurance agreement and then tests the agreement and underlying data for transfer of risk.

Retention Analyses and Total Cost of Risk Analyses

Understanding the level of expected loss and allocated loss adjustment expenses at various retentions is a key factor in being able to minimize the total cost of risk for an insured’s risk management program while providing insight into the risk versus reward relationship. Obtaining carrier quotes at the various deductible/self-insured retention levels being assessed is also an important factor in the final decision-making process. Total cost of risk considers total captive and carrier premiums, retained losses, related loss adjustment expenses and other direct/indirect risk related costs.

Regulatory Support

Spring’s actuaries routinely work with state departments of insurance to review the work of other actuaries. This includes captive application reviews and financial examination reserve reviews.

Simulation Analyses

Simulation techniques are often used by our team to forecast financial outcomes at various probabilistic outcomes (i.e., confidence levels). We also utilize simulation analyses for reinsurance risk transfer testing.

Statement of Actuarial Opinion

Spring provides Statement of Actuarial Opinions on the adequacy of loss reserves for insurance companies, captive insurers, and risk retention groups. A loss reserve analysis is generally performed to support our opinions.