Derek Jones
Derek Jones is a principal and a property & casualty consulting actuary. He is based in the New York office of Milliman and joined the firm in 1991.
Experience
The clients he serves include insurance and reinsurance companies, captive insurers and self-insurance groups, and legislative and regulatory bodies. Derek focuses on loss reserving for commercial lines, including workers compensation, auto liability, general liability and professional liability. He is also regularly involved in pricing support, financial modeling, and analysis of legislative reforms.
Derek is the immediate past chair of the American Academy of Actuaries Workers Compensation Committee and is one of Milliman’s leading experts on workers compensation. His workers compensation experience includes:
- Analyzed the unpaid claim liabilities of the New York Workers’ Compensation Special Funds (including Section 15-8 Special Disability Fund and Section 25a Reopened Case Fund) for the New York Workers’ Compensation Board.
- Estimated impact of 2007 legislative reform of New York workers compensation system for New York State Division of the Budget.
- Conducted loss reserve analyses and limited claim reviews for hundreds of commercial insurers and self-insured entities.
- Performed loss cost and rate analyses for commercial insurers.
Derek is a regular speaker on loss reserving at national actuarial seminars and other educational seminars. He has presented to the National Council of Insurance Legislators (NCOIL) in his role as the Chair of the Workers Compensation Committee of the American Academy of Actuaries. He also has authored the following papers and articles:
- “ACA: An act of unknown consequences for workers compensation” (2013)
- “Estimating the Impact of Claim Inflation on Self-Insured Liabilities” (2010)
- “The Application of Fundamental Valuation Principles to Property/Casualty Insurance Companies,” Proceedings of the Casualty Actuarial Society, Volume XCII (2005
- “An Introduction to Reserving and Financial Reporting Issues for Non-Traditional Reinsurance,” Casualty Actuarial Society Forum, Fall 2004
- Fellow, Casualty Actuarial Society
- Member, American Academy of Actuaries
- BA, Economics, University of Virginia
- Chairperson, CAS E-Forum Committee
- Member, CAS Reserves Working Group
- Member, Casualty Actuaries in Reinsurance
- Member and Past Chair, AAA Workers Compensation Committee
- Past General Officer, CAS Examination Committee
- Past President, Casualty Actuaries of Greater New York
- Past Member, CAS Committee on Health Care Issues