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Raymond S. Nichols, Consulting Actuary MAAA, FCAS, FSA, FCA, CPCU, ARM-E, ARe, AIC, CIDM

Ray is an independent consulting actuary with over forty two years of experience in the insurance industry including twenty three years as a consultant.

As a consultant, Ray has completed studies in risk management, private passenger automobile insurance systems, homeowner prices and products, condominium association prices, products and loss ratio management analysis, commercial property prices and products, workers compensation self-insurance programs, insurance company loss reserves, medical malpractice insurance claim reserves, highly protected property risk insurance rates, insurance company general liability rates, insurance company valuations, reinsurance modeling studies, and other work. He has served as an expert witness in arbitrations involving international directors’ and officers’ liability coverage and in court cases involving loss reserve issues. He was the successful expert witness in the U. S. Supreme Court case, Atlantic Mutual v. Commissioner.

He has extensive experience in all areas of property and casualty insurance. Before starting his own practice, Ray was a senior consultant with Milliman & Robertson, Inc. He served as senior vice president and chief actuary for AIG/New Hampshire, as second vice president and chief actuary for the Covenant Group, and as second vice president and actuary for the Travelers Insurance Company. For six years he served as the Appointed Actuary for Connecticut Life and Casualty Insurance Company. Also, for two years he served as the Director of the Property-Casualty Division of the Connecticut Insurance Department. Early in his career he worked as a computer programmer and systems analyst.

Ray is a Fellow of the Casualty Actuarial Society, a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, a Fellow of the Conference of Consulting Actuaries, a Chartered Property Casualty Underwriter, and a Certified Insurance Data Manager. He earned an Associate in Risk Management –Enterprise Wide Risk Management designation, an Associate in Reinsurance designation and an Associate in Claims designation. He earned a Master in Science in Mathematics from Ohio State University. He attended Miami University (Ohio) and is a graduate of the University of Bridgeport. He is pursuing continuing education studies in management information and technology, computer modeling, workers’ compensation claim settlement, finance and enterprise risk management.

Ray has lectured at the University of Hartford and the University of Connecticut where he lectured on subjects in reinsurance, forecasting and loss reserving. He has spoken at the Casualty Loss Reserve Seminar and is the author of the chapter on loss reserving in Property-Casualty Insurance Accounting, sixth through eighth editions. He has served on various industry actuarial committees covering the subjects of medical malpractice, worker's compensation, commercial property and data management. He is one of the authors of ASOP 36, the actuarial standard of practice for loss reserving. He recently served as the Director of Research for the Hartford branch of the CPCU Society.

Raymond S. Nichols, Consulting Actuary 75 North Quaker Lane West Hartford, CT 06119 Telephone: (860) 232 9009 Email: r.nichols@snet.net Website: www.independentactuary.com