Our Company

Richard C. Frese, FCAS, MAAA

Consulting Actuary
Chicago, IL, US

Tel: +1 312 7260677

E-Mail | Download bio | VCard

Professional Designations

  • Fellow, Casualty Actuarial Society
  • Member, American Academy of Actuaries


  • BS, Actuarial Science, University of Illinois, Urbana-Champaign

Current Responsibility

Richard is an actuary in the Chicago Casualty practice of Milliman. He joined the firm in 2002.


Richard's expertise in property and casualty primarily involves loss reserving and forecasting for self-insured clients in the area of medical malpractice and workers' compensation liability. He also has extensive experience in commercial lines, including workers' compensation, professional liability, general liability, auto liability, and property insurance. His clients include captives, Fortune 500 corporations, healthcare institutions, privately held companies, public entities, and risk-retention groups.


  • "The Forgotten Hospital Liability: Booking IBNR for Workers' Compensation," 2008, Risk & Insurance
  • "Discounting Medical Malpractice Claim Reserves for Self-Insured Hospitals," 2011, Healthcare Financial Management
  • "Does Your Self-Insured Program Need a Tune-up?," 2011, Risk Management
  • "A Second Look At Your Self-Insurance Allocation," 2011, The Self-Insurer
  • "A Medical Malpractice Understanding to FASB ASU No. 2010-24," 2011, Healthcare Financial Management


  • Joint CAS/SOA Committee on Career Encouragement – 2010 to Present
  • Casualty Actuarial Society New Members Committee - 2010 to Present


  • "Make Your Actuary Work For You," 2009 Jointly sponsored Chicago Hospital Self- Insured Conference
  • "Actuarial Professionalism & Responsibility," 2010 Zurich North America Insurance Company
  • "The Actuarial Language: Keys To Communication," 2011 Risk and Insurance Management Society, Inc., St. Louis chapter, Greater Quad Cities chapter, Indiana chapter and Chicago chapter
  • "The Actuarial Process: Medical Malpractice Liability," 2011 McGladrey & Pullen, LLP and RSM McGladrey, Inc, Chicago office
  • "Breaking Through The Barrier With Your Actuary," 2011 Ohio Hospital Association, Ohio Society of Healthcare Risk Managers & Society of Ohio Healthcare Attorneys Joint Conference
  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman