The National Association of Insurance Commissioners has picked Thomas Herzog to be the distinguished scholar in residence at its Center for Insurance Policy and Research.
Herzog will help the NAIC, Kansas City, Mo., update the risk-based capital system, officials say.
The RBC system is a method for increasing the likelihood that insurers will have enough capital to make good on obligations to policyholders, and for giving insurers’ more credit for assets held in what appear to be safer, steadier investments than for assets held in what appear to be riskier investments.
Herzog has been the chief actuary at the Federal Housing Administration since 1982.
Herzog has a doctorate in mathematics from the University of Maryland, and he is a fellow of the American Statistical Association, Alexandria, Va.