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Chad Karls is a principal and consulting actuary with the Milwaukee office of Milliman. He joined the firm in 1993.
Chad’s area of expertise is property and casualty insurance, particularly ratemaking, loss reserve analysis, and financial planning. Chad has also developed particular expertise in understanding defense costs through the development of an advanced analytics platform that extracts the intelligence from attorney invoices.
Chad has assisted numerous clients with financial reporting issues and the development of pro forma financial statements, as well as with pricing and rating projects, including profitability analyses of core products and the development of new products. Beyond standard financial reporting and pricing projects, he has also prepared insurance company valuations, conducted captive formation feasibility studies, assisted clients in preparing for meetings with rating agencies, assisted companies in preparations for insurance department reviews, projected self-insurance funding levels, and participated in multidiscipline due diligence reviews.
Chad has published numerous articles on medical professional liability issues in Best’s Review, National Underwriter, Bureau of National Affairs – Health Care Policy Report, and Inside Medical Liability. He has been quoted in several publications, including The Wall Street Journal, Best Week, U.S. Insurer, American Medical News, and Medscape Medical News. In addition, he has been the Rate Survey Editor for the Medical Liability Monitor’s Annual Rate Survey Issue.
Chad has spoken at many insurance industry conferences, including those sponsored by the Casualty Actuarial Society, the Medical Professional Liability Association, A.M. Best Company, Crittenden Conferences, ExecuSummit, Insurance Accounting and Systems Association, and Midwestern Actuarial Forum. He has also presented at several state medical and hospital associations. Chad is frequently asked by his clients to speak to their board of directors concerning the state of the medical professional liability insurance marketplace.
In addition to his activities in the medical professional liability arena, Chad has also been active in the attorneys’ professional liability marketplace. He has been a guest speaker at the annual meeting of the National Association of Bar Related Insurance Companies, and is the curator for the American Bar Association’s Standing Committee on Lawyers’ Professional Liability’s legal malpractice claims study.