Rachel Soich
FCAS, MAAA
Consulting Actuary
Chicago, IL, US
Rachel Soich is a consulting actuary in the Chicago Casualty Practice of Milliman. She joined the firm full time in January 2016.
Experience
Rachel’s area of expertise is property and casualty insurance, including loss reserving and ratemaking. Her expertise primarily involves loss reserving and forecasting for self-insured clients. She has extensive experience in commercial lines, including workers’ compensation, professional liability, general liability, auto liability, D&O liability, and extended warranties (service contracts). Rachel’s clients include Fortune 500 corporations, healthcare institutions, privately held companies, public entities, and commercial insurers.
Publications and Presentations
- "Three ways to avoid cyber-related D&O costs." Insight, 2021.
- "As Professional Services Liability Mounts, Consider These Highly Relevant Risk Management Tools." Risk & Insurance, 2021.
- "The Professional Liability Hard Market and Relevant Risk Management Tools." CAS Webinar, 2021.
- "Professionalism for All Stages of your Actuarial Career." Milliman Casualty Consultants Forum, 2021.
- "Lights! Camera! Professionalism!" Midwest Actuarial Forum, 2020.
- "What’s the Deal with D&O?” Milliman Casualty Consultants Forum, 2020.
- “Professionalism: The New Modeling ASOP and Tales of the Non-Reasonable Opinion.” Milliman Casualty Consultants Forum, 2020.
- “Snappers and Skits – Professionalism.” Midwest Actuarial Forum, 2019.
- “CSC Funded Projects – Hospital Professional Liability Database: Key Findings.” Milliman Casualty Consultants Forum, 2019.
- CNA Insurance internal training regarding actuarial ethics. CNA Actuarial Learning Conference, 2020.
- In light of the COVID-19 crisis, do you have the necessary Directors and Officers coverage?” Insight, 2020.
- “Three trends increasing D&O insurance rates.” Property Casualty 360, 2019.
- “Industry data shows increase in large claims and uptick in severity.” Inside Medical Liability, 2019.
- “Three rising trends in D&O insurance.” Insight, 2019.
- “Hospital professional liability database: Key Findings.” Insight, 2018.
- “Subcontractors: How a common business practice could lead to a mountain of insurance costs.” Insight, 2018.
Professional Designations
- Fellow, Casualty Actuarial Society
- Member, American Academy of Actuaries
Education
- BS, Actuarial Science, Carroll University, Waukesha, WI
Affiliations
- Casualty Actuarial Society Professionalism Committee – 2018-2022
- Casualty Actuarial Society Admissions Committee – 2020
Publications
Read their latest work
Article
Three ways to avoid cyber-related D&O costs
30 September 2021 - by Rachel Soich
Action items include purchasing cyber insurance, thoroughly understanding D&O policies, and instituting cyber risk prevention and mitigation strategies.
Article
As professional services liability mounts, consider these highly relevant risk management tools
18 May 2021 - by Brian Z. Brown, Rachel Soich, Christopher Fredericks
Protect yourself: How errors and omissions coverage can safeguard against potential lawsuits for professional services firms.
Article
In light of the COVID-19 crisis, do you have the necessary Directors and Officers coverage?
03 April 2020 - by Rachel Soich
With the addition of the global COVID-19 pandemic, an already tumultuous D&O insurance environment has the potential to get much worse.
Article
Three rising trends in D&O insurance
30 August 2019 - by Rachel Soich
Due to the growing instability of directors and officers coverage, insurers have their eyes on three rising risks: increased securities action lawsuits, heightened awareness to social issues, and growing cyber risks and data protection laws.
Article
Hospital professional liability database: Key findings
11 December 2018 - by Tony F. Bloemer, Rachel Soich, Tim Vosicky
An updated analysis of key findings from our hospital professional liability database.
Article
Subcontractors: How a common business practice could lead to a mountain of insurance costs
13 March 2018 - by Rachel Soich
What are the risks associated with uninsured subcontractors and what can be done to prevent them from threatening a company’s bottom line?