Comments Invited on CAS Board’s Decision to Rescind Statements of Principles

Last year, the CAS announced that the Board of Directors unanimously approved rescinding the three CAS Statements of Principles related to ratemaking, reserving, and valuation, for the reasons discussed therein. Since then, members and other stakeholders have raised concerns with the Board’s action, specifically related to the Statement of Principles regarding Property and Casualty Insurance Ratemaking.

The CAS Board appreciates the comments it has received and recently convened to determine how to better understand stakeholder concerns. The Board agreed to open a formal comment period to invite feedback from all stakeholders on the Board’s decision, whether in favor or against rescinding the ratemaking principles.

Please submit your comments by March 15 to Laura Stout at lstout@casact.org. The Board will review and discuss the comments received during its Board meeting scheduled for March 27.