About Raymond S. Nicols, Consulting Actuary!

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Raymond S. Nichols, Consulting Actuary


Ray is an independent consulting actuary with over thirty six years of experience in the insurance industry including eighteen years as a consultant.

As a consultant, Ray has completed studies of 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, among other work. He has served as an expert witness and 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. 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 Member of the American Academy of Actuaries, a Fellow of the Conference of Consulting Actuaries, a Chartered Property Casualty Underwriter, a Certified Insurance Data Manager of the Insurance Data Management Association, and has earned an Associate in Reinsurance designation. He earned a master in science in mathematics from Ohio State University and is a graduate of the University of Bridgeport. He is pursuing continuing education credits in underwriting, claim settlement, and finance.

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 and he is one of the authors of ASOP 36, the actuarial standard of practice for loss reserving.

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

75 North Quaker Lane
West Hartford, CT 06119
Telephone: (860) 232 9009