
Richard Frese
ACAS, FCAS, MAAA
Principal & Consulting Actuary, FCAS
Chicago, IL, US
Richard is an actuary in the Chicago Casualty practice of Milliman. He joined the firm in 2002.
Experience
Richard's expertise in property and casualty primarily involves loss reserving and forecasting for self-insured clients in the area of medical malpractice and workers' compensation liability. He also has extensive experience in commercial lines, including workers' compensation, professional liability, general liability, auto liability, and property insurance. His clients include captives, Fortune 500 corporations, healthcare institutions, privately held companies, public entities, and risk-retention groups.
Publications and Presentations
Publications
- "The Forgotten Hospital Liability: Booking IBNR for Workers' Compensation," 2008, Risk & Insurance
- "Discounting Medical Malpractice Claim Reserves for Self-Insured Hospitals," 2011, Healthcare Financial Management
- "Does Your Self-Insured Program Need a Tune-up?," 2011, Risk Management
- "A Second Look At Your Self-Insurance Allocation," 2011, The Self-Insurer
- "A Medical Malpractice Understanding to FASB ASU No. 2010-24," 2011, Healthcare Financial Management
Committees
- Joint CAS/SOA Committee on Career Encouragement – 2010 to Present
- Casualty Actuarial Society New Members Committee - 2010 to Present
Presentations
- "Make Your Actuary Work For You," 2009 Jointly sponsored Chicago Hospital Self- Insured Conference
- "Actuarial Professionalism & Responsibility," 2010 Zurich North America Insurance Company
- "The Actuarial Language: Keys To Communication," 2011 Risk and Insurance Management Society, Inc., St. Louis chapter, Greater Quad Cities chapter, Indiana chapter and Chicago chapter
- "The Actuarial Process: Medical Malpractice Liability," 2011 McGladrey & Pullen, LLP and RSM McGladrey, Inc, Chicago office
- "Breaking Through The Barrier With Your Actuary," 2011 Ohio Hospital Association, Ohio Society of Healthcare Risk Managers & Society of Ohio Healthcare Attorneys Joint Conference
Professional Designations
- Fellow, Casualty Actuarial Society
- Member, American Academy of Actuaries
Education
- BS, Actuarial Science, University of Illinois, Urbana-Champaign
Publications
Read their latest work
Article
Assessing social inflation’s disruption to data, metrics, and forecasts: 10 mitigation strategies
20 September 2021 - by Richard Frese
Social inflation has disrupted the economy and insurance industry, but how do we measure and mitigate the impact?
Article
ソーシャルインフレのデータ、測定基準、予測に対する混乱の評価:10の軽減戦略
20 September 2021 - by Richard Frese
ソーシャルインフレーションは、経済、および保険業界を混乱させていますが、この影響をどのように評価・軽減できるでしょうか?
Article
Will space travel insurance become as common as auto insurance?
02 August 2021 - by Richard Frese
As Jeff Bezos, Richard Branson and passengers make it to space, a new area of risk arises for the insurance industry.
Article
宇宙旅行保険は、自動車保険のように一般化するのか?
02 August 2021 - by Richard Frese
Jeff BezosそしてRichard Branson、また同行した乗客たちは、保険業界の新しいリスク領域を宇宙に広げました。
Article
Potential medical professional liability impacts of Illinois House Bill 3360
04 February 2021 - by Tony F. Bloemer, Richard Frese, Tim Vosicky
The application of Illinois House Bill 3360 to medical liability losses will have significant impacts.
Article
How reliable are your P&C benchmarks in the COVID-19 era?
11 September 2020 - by Richard Frese
The introduction of COVID-19 has had an almost immediate influence on insurance yet it may take a long time to fully realize the effects. What are strategies to make benchmarks valuable now and post-COVID-19?
Article
COVID-19時代の損害保険関連ベンチマークはどの程度信頼できるのか?
11 September 2020 - by Richard Frese
COVID-19の到来は、ほぼ瞬時に保険への影響を及ぼしましたが、その影響を完全に認識するには長い時間がかかりそうです。今、そしてアフターコロナの時代にベンチマークを有用にする戦略は何でしょうか?
Article
Why independence matters in actuarial services
02 May 2017 - by Tony F. Bloemer, Richard Frese
Actuarial expertise is important when working with an actuary but is not the only criteria that should be considered.
Article
アクチュアリーの業務提供に独立性が大切な理由(英語版のみ)
02 May 2017 - by Tony F. Bloemer, Richard Frese
アクチュアリーと仕事をする際、アクチュアリーの専門知識は重要ですが、それだけを考えればいいというわけではありません。
Article
Ten considerations for projecting self-insured workers compensation losses
01 May 2017 - by Richard Frese, Carly Rowland
This article discusses the top 10 considerations used by actuaries for projecting self-insured workers compensation losses and integrating them into the projection process.