Health under SOA or CAS.

[fishhead]

Anyone has any idea why Health and Disability is under SOA rather than CAS?

[JTBenson]

Distribution channels are similar for Health and Life.

[Patience]

Health is also usually a division of Life Insurance companies not P&C

[fishhead]

From pricing point of view, health is more likfe P/C

[Patience]

Originally Posted by fishhead

From pricing point of view, health is more likfe P/C

Do you mean Medical?? Because Disability and Long Term Care are more like Life.

[Dr T Non-Fan]

Originally Posted by fishhead

From pricing point of view, health is more likfe P/C

The reasons have been given, and it was taken care of before you were born.
Tough crap if it doesn't make any sense.
(Yeah, I'm in one of those moods.)

[Polly Nomial]

P&C is regulated differently than health and life. They require separate licenses. Why is that so? Don't know. But your question was regarding SOA vs CAS. They each emphasize one set of regulations.

But never underestimate the power of tradition.

My company (Major Med and Med Supp) is making a change in admin. systems. I have stressed (to anyone listening) that we ought to look at P&C admin systems, since the admin for them is so similar to the admin we need to do. Sadly, I'm confident we will attempt to retro-fit ("cram") our business onto a life system, but I'm trying to get others to "see the light".

Health insurance considers the human existence...P&C are traditionally focused on physical loss processes. Thus, in the sense of the object of the insurance, health and life are quite similar. But, the admin. of the products, and the impact of policyholder behavior with regard to the myriad of options in which a company can be selected against, favor health's similarity to P&C.

[Maine-iac]

I think it's because originally most health coverage offered by insurers was disability type coverage. Straight medical when it was developed, was often offered by the Blues, which were separately regulated and usually didn't use actuaries in the old days. When medical insurance developed into a serious line of business, the SOA was quicker to recognize it and develop a cirriculum. CAS dropped the ball.