Hayden Burrus, Principal

Hayden Burrus is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. He served as President of Casualty Actuaries of the Southeast from 2006 to 2007. He is also authorized to certify loss reserves for captive insurance companies by the Vermont and South Carolina Departments of Insurance. He founded HB Actuarial Services in 2001 and is its Principal Actuary.

RESPONSIBILITIES

  • Serves as managing consultant for all HB Actuarial Services' clients.
  • Provides actuarial reserve reviews for clients self insured across multiple casualty lines of business including Workers' Compensation, General Liability, Auto Liability, Auto Physical Damage, and Property Insurance.
  • Provides actuarial forecasts of excess insurance recoveries for self-insured clients.
  • Provides expert witness support for numerous insurance related cases.
  • Is a regular speaker at industry events such as the 2010 ICCFA Convention and the 2010 Florida Association of Self-Insurers.
  • Provides expert actuarial analysis for the North American Cemetery Regulators Association.
  • Is frequently praised by clients regarding his presentation of findings in a very clear and understandable manner

Mr. Burrus also served as Chief Actuary and Vice President for AmCOMP Insurance Company (NASDAQ: AMCP) from 2002 to 2007. During that time he built the actuarial department, trained its staff, and developed a series of management reports. On an ongoing basis, these reports are analyzed and presented to the Senior Management and Regional Presidents. In addition to building the actuarial infrastructure, other significant accomplishments in this role include:

  • Preparations of actuarial portion of SEC Filings prior to AmCOMP’s IPO in 2006.
  • Over 100 workers' compensation rate filings in approximately 20 jurisdictions. All rate filings prepared by my department were approved by the appropriate state insurance regulators.
  • Development and implementation of a pricing tool used by all field underwriters nationally. This pricing tool calculated the appropriate premium to charge based on state specific profit targets.
  • Detailed analysis of the company’s reinsurance program and attachment point, and annual recommendations of the fair cost and appropriate attachment point for the company’s excess reinsurance program.
  • Risk transfer analyses for historic reinsurance policies; building of a deposit accounting model for the Finance Department.
  • Preparation and support for investor conference calls and Board of Directors meetings.
     

Prior to founding his own consulting practice, Mr. Burrus worked for Insurance Services Office (ISO) and its subsidiary organizations as a consulting actuary between 1997 and 2000. During this time, he was the day to day manager of a wide variety of actuarial consulting assignments for expert witness support work, insurers, reinsurers, and state and local government entities. Accomplishments here include:

  • Statements of Actuarial Opinions.
  • Assessment of expected losses (in aggregate and by reinsurance layer) for a series of reinsurance contracts involved in a litigation dispute.
  • Determination of outstanding workers compensation liabilities and required assessment rate for a state workers compensation fund.
  • Stochastic simulations of ultimate claim costs for a large Professional Employee Organization (PEO).
  • Determination of state specific retrospective premium for insurance companies involved in a litigation dispute.
     

Concurrent with his work at ISO, he also worked for a startup workers' compensation rating organization and statistical agent that competed against the National Council on Compensation Insurance, Inc. (NCCI). Accomplishments here include:

  • Trained actuarial and non-actuarial staff regarding traditional workers' compensation ratemaking procedures used in NCCI rate filings including the use of Experience Rating (E-mods) Retrospective Rating, and Classification Codes.
  • Development of software that calculates the E-mods based on all filed rating factors in the state.
  • Developed a Workers Compensation Retrospective Rating Manual.
  • Prior to his consulting career, Mr. Burrus worked for the NCCI.

Accomplishments here include:

  • Primary business consultant for the Aggregate RateMaking Software System (ARMS) developed for the actuarial department. This system was the first fully automated workers’ compensation premium and rate level calculation tool prepared by NCCI. ARMS is a proprietary NCCI computer software product that calculates the fair workers’ compensation rate level in each state based on the totality of all loss and premium experience occurring in that state. ARMS was used as the basis for numerous workers’ compensation rate and loss cost filings prepared and filed by NCCI throughout the nation. The foundation of ARMS continues to be used by NCCI to this day.
  • Preparations of workers’ compensation rate / loss cost filings.
  • Correspondence with various State Insurance Departments regarding workers’ compensation rate / loss cost filings.
     

Additionally, Mr. Burrus has worked for CIGNA Property and Casualty Corporation, and the home office of Insurance Services Office. At both of these companies, he made significant contributions to their proprietary actuarial research departments.

Mr. Burrus’ academic background includes a Bachelors degree in Mathematics and a minor in Economics and Finance from the University of Rochester.

 

Mr. Burrus can be reached by telephone on business days between 8 am and 6 pm at 561.279.2323

Our mailing address is:
HB Actuarial Services, Inc.
10 Northeast 6th Street, Suite 200
Delray Beach, FL 33444
Phone: 561.279.2323
Fax: 561.245.9254
E-Mail: hburrus@hbactuarial.com