Actuarial Services

The Actuarial team is a critical component of regulatory oversight, providing technical expertise and analytical rigor to support state insurance departments in ensuring solvency, rate adequacy, and fair market practices. With credentialed actuaries experienced across all major lines of insurance, the division delivers actuarial evaluations that are essential to effective financial and market conduct regulation.

Actuarial Support for Financial Examinations

Scope of Engagement:

  • Performs actuarial components of full-scope, coordinated, and limited risk-focused financial examinations in accordance with NAIC Financial Condition Examiners Handbook.
  • Supports both lead and participating states in multi-state examinations.

Key Activities:

  • Reserve adequacy testing.
  • Risk transfer analysis in reinsurance contracts.
  • Evaluation of actuarial assumptions and methodologies.

Financial Analysis & Solvency Monitoring

Actuarial Reviews:

  • Conducts independent actuarial assessments in coordination with financial analysts to evaluate insurer solvency and capital adequacy.
  • Reviews Own Risk and Solvency Assessment (ORSA) filings for actuarial soundness and risk modeling integrity.

Market Conduct & Rate Regulation

Market Conduct Examinations:

  • Provides actuarial insight into claims practices, rating methodologies, and underwriting fairness during market conduct reviews.

Rate Filing Reviews:

  • Evaluates actuarial justifications for rate filings, including tiering structures and predictive models.
  • Assesses compliance with state-specific rate standards and actuarial guidelines.

Regulatory Filing & Transaction Review

Form A & D Filings:

  • Reviews actuarial implications of mergers, acquisitions, and affiliate transactions.

Reinsurance & Surplus Relief:

  • Analyzes risk transfer effectiveness and financial impact of reinsurance arrangements.

Captive & MEWA Applications:

  • Assesses actuarial feasibility and compliance of captive insurance and multiple employer welfare arrangement (MEWA) proposals.

Troubled Company & Receivership Support

Rehabilitation & Liquidation:

  • Provides actuarial services during insurer rehabilitation, conservation, and liquidation proceedings.
  • Supports valuation of liabilities, runoff projections, and policyholder impact assessments.

Multiline Expertise & Professional Credentials

Lines of Business Covered:

  • Property & Casualty, Life & Annuity, Health, Disability, and Title Insurance.

Actuarial Designations:

  • FCAS (Fellow, Casualty Actuarial Society)
  • ACAS (Associate, CAS)
  • FSA (Fellow, Society of Actuaries)
  • ASA (Associate, SOA)
  • MAAA (Member, American Academy of Actuaries)

The Actuarial team enhances regulatory decision-making by delivering independent, technically sound actuarial evaluations that support solvency monitoring, rate regulation, and market conduct enforcement. Their work ensures that insurers operate with financial integrity and in compliance with actuarial standards and regulatory expectations.

Team Leadership

Scott Garduno, FSA, MAAA
Senior Managing Director

Kirk Braunius, ASA, MAAA
Senior Consulting Actuary

Solomon L. Frazier, FSA, FCAS, MAAA
Senior Consulting Actuary

Brett M. Sallay, FCAS, MAAA
Senior Consulting Actuary

TESTIMONIALS

What our team says about us

Cynthia M. Fitzgerald, AIRC, ACS, AIAA, CICSR, CFE(Fraud), CIE, MCM, PHAM, ITP, CCP

Director

Working at ER has allowed me to develop my leadership skills to elevate my team in the Health Consulting Services space. Consistent and meaningful engagement with executive leadership at ER is incredibly supportive and collaborative. At ER, we foster a creative work environment where everyone feels valued and heard. ER leadership is committed to professional development and work life balance. I enjoy the opportunity to lead a strong team with vision and purpose as we support state and federal regulators with dynamic and creative solutions. One of the attributes I like most about working at ER is the opportunity to work closely with other leaders in other areas of insurance regulation. This opportunity is only possible when leaders feel trusted, supported and equipped with the tools necessary to be successful. At ER, we take care of our clients, our team and each other as we deliver on our mission.

Craig Leonard, CIE, CPCU, CCP, FLMI, ARC, AIAF, ARM, MCM

 Senior Director Market Conduct

Working at ER has been an incredible experience that allows me to lean into my strongest skills as a thought leader who is always looking to raise the bar and find better ways to improve market regulation processes. ER’s commitment to quality, efficiency, and first-rate representation creates an environment where innovation thrives, and continuous improvement is the standard. Our firm’s streamlined structure ensures prompt attention to clients at all levels, enabling me to partner with them in meaningful ways and consistently exceed their expectations. In my 34 years being involved in market regulation, I have never worked with a more knowledgeable, dedicated team. With deep knowledge and dedication to the NAIC’s Market Regulation Handbook, combined with our ‘out-of-the-box’ thinking, we identify critical findings often overlooked by others. I take immense pride in the work we do and the value we provide to our clients every day. 

Mark Ossi, CPA, CFE, AMCM, CFE (Fraud)

Director Financial Analysis

In my previous position as a state regulator, ER was one of our trusted contracting firms.  I felt like they were a strategic partner in the Department’s insurance regulatory oversight and was happy to have them be part of our team for the seventeen years I was employed at the Georgia Department.  In 2019, I joined the ER Team and have been even more impressed with ER’s professionalism, culture and commitment to assisting our client’s mission of regulatory oversight of the insurance industry with the goal of safeguarding policyholders.

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CORPORATE HEADQUARTERS

20 10th Street NW, Suite 803
Atlanta, GA 30309-6197

Office: 404.816.6188
Fax: 404.816.6197

UTAH OFFICE

10619 S. Jordan Gateway, Suite 335
South Jordan, UT 84095

Office: 801.562.5748

VIRGINIA OFFICE

145 N. Main Street
Stuart, VA 24171

Office: 276.694.3806
Fax: 404.816.6197