11/01/1987 04210

DIRECTOR, PROPERTY AND CASUALTY RATE AND POLICY FORM REVIEW

DEFINITION: This is responsible managerial work in directing the review and analysis of property and casualty insurance rates, rating plans, policies and forms in accordance with insurance laws and regulations.

The employee in this class plans, develops, directs and coordinates the program to review, analyze, approve and disapprove insurance rates, policies and related forms of property and casualty insurance companies in accordance with applicable laws and regulations. Work involves directing the actuarial review of property and casualty insurance rates, rating plans, rating procedures and schedules to ensure that they conform with statutory requirements so as they not be excessive, unjust, or unfairly discriminatory. Work involves directing the review and approval or disapproval of insurance policies, contracts, riders, endorsements, and applications of property and casualty insurance companies, including fire, general casualty, inland marine, commercial property, general liability, credit indemnity, and homeowners warranty and multi-peril and other package type policies. Work includes directing the collection and analysis of data supporting decisions regarding the approval or disapproval of insurance rate and policy form filings. The employee drafts or directs the drafting of regulations and guidelines interpreting laws relating to property and casualty insurance. The employee is responsible for formulating and recommending policies to the deputy Insurance Commissioner for Rate and Policy Form Regulation. Supervision is exercised over a professional and technical staff engaged in actuarial, statistical and policy examination work. Work is performed with independence under the general direction of the Deputy Insurance Commissioner for Rate and Policy Form Regulation who supervises work through conferences, reports and an evaluation of program effectiveness.

EXAMPLES OF WORK: Plans, develops, directs and coordinates the program to review, analyze and approve or disapprove insurance rates, rating plans, rating procedures and schedules of property and casualty insurance companies.

Plans, develops, directs and coordinates the program to review, analyze and approve or disapprove insurance policies and related forms of property and casualty insurance companies, including fire, general casualty, inland marine, commercial property, general liability, credit indemnity, and homeowners insurance and multi-peril and other package type policies.

Directs the review of advertising material related to property and casualty insurance for compliance with insurance laws and regulations.

Directs the preparation of information and testimony to be used in administrative hearings and court proceedings.

Drafts, or directs the drafting of, regulations and guidelines interpreting laws relating to property and casualty insurance, and assists in draft in drafting legislation in the area of property and casualty insurance.

Corresponds with property and casualty insurance company officials regarding company operations, marketing procedures, and rate and policy form filings.

Formulates and recommends policies regarding the life rate and policy form review program to the Deputy Insurance Commissioner for Rate and Policy Form Regulation.

Plans and organizes work, assigns work, determines work priorities, sets goals and reviews and evaluates employee work performance.

Assesses training needs of staff and develops plans to meet those needs.

Performs related work as required.

REQUIRED KNOWLEDGES, SKILLS, AND ABILITIES: Knowledge of property and casualty insurance principles and practices, including underwriting and claims practices.

Knowledge of actuarial principles, rate making formulae and statistical analysis of insurance data as they apply to property and casualty insurance.

Knowledge of provisions of property and casualty insurance policies and related forms.

Knowledge of state laws and Department regulations relating to property and casualty insurance.

Knowledge of the principle and practices of administration and supervision.

Ability to evaluate insurance policy and rate data as they relate to property and casualty insurance and to make sound decisions and recommendations.

Ability to analyze property and casualty insurance policy form and rate filings.

Ability to plan and supervise the work of others.

Ability to establish and maintain effective working relationships with associates, insurance company officials, and trade association representatives.

Ability to express ideas clearly and concisely, orally and in writing.

MINIMUM EXPERIENCE AND TRAINING: Two years of experience as a property and Casualty Insurance Policy Examiner Supervisor;

or

Two years of experience as a property and Casualty Insurance Actuary Supervisor;

or

Eight years of progressively responsible experience in property and casualty insurance rate preparation, analysis or research, underwriting or sales, or in drafting or reviewing and examining property and casualty insurance policies and forms, or in a closely related area, including two year in administrative or supervisory capacity, and a Bachelor's degree;

or

Designation as a Fellow of the Casualty Actuarial Society;

or

Designation as an Associate of the Casualty Actuarial Society and six years of professional insurance work;

or

Any equivalent combination of experience and training.