Alternative Markets
Whether it's a captive insurance company, large deductible program, self-insured entity, public entity pool or syndicate, an alternative market entity is a risk retention program outside the traditional commercial property/casualty market. By virtue of the growth in the alternative markets for more than 30 years, the premium volume outside the mainstream markets is now greater than that written by the traditional markets.
Pinnacle understands the needs of those involved in the alternative markets, the most important of which is controlling insurance costs over the long term. Each program has unique risk characteristics that are often the impetus for the program formation in the first place. Differing geographic, industry or line of business mixes of business may dictate customized approaches to reviewing the risk profile for your program.
Pinnacle has expertise in a wide variety of lines of business, regulatory jurisdictions and industry niches. Not only do we have a team of experienced consultants at your service, we also have local knowledge unique to individual market segments, such as:
- General liability for contractors
- Medical professional liability for physician groups
- Workers' compensation for temporary staffing firms
- Law enforcement liability for public entity pools
- Commercial auto liability for taxi and/or public livery
Alternative Markets Services
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Audit SupportPinnacle consultants deal with auditors daily, assisting them in serving their customers and evaluating the work products of other actuaries.
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Collateral NegotiationsPinnacle provides loss reserve analyses and other diagnostics in support of collateral negotiations associated with deductible and/or self-insured retentions.
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Cost AllocationsPinnacle is experienced developing cost allocation mechanisms by member or department in the most equitable manner using elements such as – exposure, geographic cost differences and actual loss experience.
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DiscountingManagement sometimes wishes to reflect the time value of money in funding projections, accruals for unpaid claims liabilities and other valuations. The two most important parameters for doing so are the assumed interest rate and the underlying claim payment pattern. Assessing reasonable values for these parameters is not trivial as the interest rate may need an adjustment for risk while the claim payment pattern may not be readily available.
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Alternative Risk Transfer Program DesignPinnacle helps alternative market risk owners, captive managers and service providers determine risk retentions that optimize the balance between the cost of risk transfer and loss volatility.
Alternative Markets Industries
Our expertise applies to a wide variety of agricultural areas, supporting the ever evolving agricultural economy.
Pinnacle has extensive experience helping contractors navigate their unique and challenging liability exposures.
Pinnacle’s experts understand the rapidly changing health care services environment. We have provided actuarial consulting services in every aspect of medical professional liability insurance at the local, state and national levels.
Pinnacle understands that manufacturers face numerous liability exposures from workers' compensation to auto, and many more. We help manufacturers manage exposures in the highly variegated manufacturing industry.
Our clients are among the leaders of the staffing industry, and we’re experts in analyzing each program’s unique characteristics — from single parent captive liabilities to large self-insured retention liabilities.
Who We Serve in Alternative Markets
Our expertise in providing audit support includes traditional insurance companies, reinsurers, risk retention groups and a wide variety of captive insurance companies. We are regularly called on to provide audit support for insurance, alternative markets and self-insurance operations.
Pinnacle has expertise in many lines of coverage, alternative risk transfer structures, regulatory jurisdictions and industry niches. Our team of experienced consultants understand the needs of captive managers, and bring local knowledge unique to individual market segments.
We have specific expertise in programs that protect the public welfare, such as petroleum storage tank pollution coverage or programs for infants with birth-related injuries.
Whether you need to develop an enterprise risk management program, identify best practices for your industry or procure expert insight and analysis for a broad range of projects, our team of experts is focused on doing whatever it takes to exceed your expectations, time and time again.
Our team of experienced consultants offer insight into a reasonable range of likely outcomes, providing valuable intelligence from working with similar situations.
Pinnacle provides a variety of services to insurance regulators. Services include financial exams including risk-focused examinations, rate filing reviews and model reviews. Pinnacle has also assisted regulators with captive applications reviews, training, and legislative costing.
Our expertise comes from having a team of experienced consultants with deep understanding of the challenges self-insureds face, but also with local knowledge unique to individual market segments.
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