Actuarial Risk Consultants LLC
|
|
Biography of Frank J. Rau, Jr. Frank
J. Rau graduated from St. John’s University in 1967 with a Bachelor of Science
degree in Mathematics. He is a
member of Pi Mu Epsilon, the National Honorary Mathematics Fraternity.
He also received a Master of Science degree in Mathematics from Stevens
Institute of Technology in 1970. Mr.
Rau furthered his Mathematics education beyond his Masters degree while at
Stevens. In 1993, Mr. Rau became an
Associate of the Casualty Actuarial Society and a Member of the American Academy
of Actuaries. Mr.
Rau began his career with Bell Telephone Laboratories in 1968 as an Operations
Research/Systems Engineer. While as
an engineer there, Bell Laboratories sent Mr. Rau to Stevens for his graduate
work on a full time basis. One of
Mr. Rau’s major accomplishments at Bell Labs was to develop a statistical
method for pinpointing transmission faults within Bell System’s entire
network. In
1975, Mr. Rau began his actuarial career with Anistics, Inc., the risk
management consulting subsidiary of Alexander & Alexander. Inc.
His initial responsibilities were to perform loss reserving and
forecasting studies for A&A’s largest corporate clients.
Part of this effort was to produce confidence around the loss projections
because Anistics realized early on that all risk-financing decisions are
dependent upon the variability inherent in the loss generation and settlement
processes. Due to his
emphasis in the projection and financing of random hazard risks, Mr. Rau became
heavily involved with captive insurance companies and rent-a-captives.
He was one of the initial reviewers of captive applications for the State
of Vermont and was involved with the formation of the first captives formed in
Illinois under its captive law. While
at Anistics, Mr. Rau was responsible for all of the underwriting decisions for
A&A’s rent-a-captive. Much of
the business placed in the rent-a-captive was of a “long tail” nature.
As such, Mr. Rau became an expert in workers’ compensation, products
liability and professional liability (including medical malpractice).
In one year, Mr. Rau was responsible for more than $2.5 million of
underwriting profit within the rent-a-captive. In
1989, Mr. Rau went to Frank B. Hall, Inc. as a vice president and consulting
actuary. While there, he continued
his involvement with large corporate clients; providing for their actuarial
consulting needs. These needs
included acting as the appointed actuary for their captive insurance
subsidiaries, certifying their self-insured losses to both state departments of
insurance and to the corporations’ outside auditors, and providing input into
the corporation’s selection of the financially most advantageous method of
handling their losses. In
1999, Mr. Rau joined American Reinsurance Company as a vice president /actuary
charged with the responsibility of pricing their professional liability treaty
business. Along with the typical
professional liability business, which included medical malpractice.
Mr. Rau also handled D & O liability and employment practices
liability insurance. In
2002, Mr. Rau assisted Advisen, Ltd. in developing their informational product
for professional liability in their insurance information system and then
assisted Highlands Insurance Company with their actuarial needs and helped price
their commutations during runoff. Mr.
Rau formed Actuarial Risk Consultants LLC in 2003 as a vehicle for providing
reserving studies, pricing studies, cash-flow analyses, monitoring effectiveness
of loss control programs and input into mergers and acquisitions for corporate
clients. |
Send mail to webmaster@riskactuary.com with
questions or comments about this web site.
|