- Before
- “I spend October proving we said the same thing in May.” Rebuilds each answer from last year’s file and chases twenty contributors by email.
- Now
- Starts from a full draft with every reused answer and refreshed figure marked; spends her time on the three flags the guard raised.
One S&P annual review, from received to released
Calderwood Mutual Insurance Group, a regional, independent-agency writer in eight Midwest states in the working solution, receives S&P Global Ratings’ 2026 annual review questionnaire on 28 September: 48 questions in 9 sections, due Friday 30 October. Here is what happens next, screen by screen.
- 01The year
Every request on one strip
Claire Donnelly · Director, Rating Agency RelationsClaire sees the year at a glance: AM Best’s Supplemental Rating Questionnaire sent 14 May, Moody’s mid-year update sent 22 July, the Ashby Lorne LLP interim audit at 120 of 141 items closed, the S&P review in drafting and the Ohio Department of Insurance full-scope exam with its first batch due 2 November. Eight requests and meetings, 559 questions and items in 2026.
- 02Overnight
Last year’s words, this year’s numbers
Request reader · Answer matcher · Figure refresherThe agents split the S&P questionnaire into its 48 questions, keeping S&P’s numbering, and matched 43 to an approved answer already sent to AM Best, Moody’s or last year’s S&P. Every number in the reused language was replaced from its filed source. Question 3.5 is drafted from Moody’s mid-year update Q5, 87% the same question: the first-half 2026 combined ratio now reads 99.4% against a plan of 98.0%.
Hover any figure: “99.4% · Quarterly statement, 30 Jun 2026, p.4 — Last answer said 101.2%.”
- 03Mon 12 Oct, morning
Then the guard stops her
Claire Donnelly · Director, Rating Agency RelationsQuestion 4.3 asks for commercial auto rate adequacy. The draft says renewal rate increases of 13.8% in 2025, taken from the final FY2025 rate monitor — all commercial auto, including the Harbor Transport program. In May the company told AM Best 14.2%, excluding that program, signed by Victor Salgado, and told Moody’s the same in July. The guard quotes both statements side by side and blocks approval of the paragraph until someone decides.
“Told AM Best 14.2% in May — this draft says 13.8% for the same line and year.”
- 049:41
One number for every audience
Claire Donnelly · Director, Rating Agency RelationsThe guard offers three ways out: use 14.2% and the same basis note, keep 13.8% and explain the basis, or ask Gwen Abernathy, who owns commercial auto answers. Claire takes the recommended fix. The paragraph now says 14.2% “excluding the Harbor Transport program exited in 2025” and goes back to Gwen to approve.
“4.3 updated · the figure ledger now shows one number for every audience.”
- 05Next
The reserve figure goes back to Schedule P
Tom Lindqvist · Chief Reserving ActuaryQuestion 5.2 says $21.0M of favourable prior-year development in calendar 2025, refreshed from the Q4 2025 board reserve paper — written before the year-end true-up. Schedule P and the Moody’s update say $18.4M. The guard recommends the filed figure. The other ways out are to use $18.4M and mention the board figure, or to ask Tom Lindqvist, who owns reserve answers.
“Use $18.4M from Schedule P — Recommended — the filed figure.”
- 06Before anything leaves
The draft against everything already sent
Consistency guardThe consistency report lays 12 key figures across six audiences in 18 months — AM Best, Moody’s, S&P, the Ohio exam, the auditor and the board — after comparing 236 sent answers. Net written premium of $2,412M and an RBC ratio of 412% agree everywhere. The property catastrophe retention is not a contradiction: $40M before the 1 July renewal, $50M now. The guard asks for one sentence saying so.
The guard never resolves a flag itself — it quotes both statements and a person decides.
- 07One click
Every figure, down to its page and line
Rohan Iyer · Statutory Reporting ManagerBehind the report sit the filed figures each answer is allowed to use, each tied to its statement or report, page and line. Prior-year reserve development opens on Schedule P, Part 2 summary, p.92: one-year development of (18,398) in column 11, used in 6 answers across 6 audiences.
- 08Same week
The Ohio exam request list, read in one pass
Request reader · Owner routerRequest list 1 from the Ohio Department of Insurance arrives from the examiner-in-charge: 212 items on 6 tabs. The agents keep the examiners’ numbering, match 141 items to a 2021 exam response, an agency answer or the board archive, mark 48 that need 2021–2025 figures and leave 23 new ones. Item 3-07 asks for the same development as S&P Q5.2, so both are linked to say $18.4M; 18 items have no topic owner yet and wait for Claire.
- 09By Fri 16 Oct
Every question has an owner and a date
The answer ownersThe owner router assigns every question by topic in Settings: Gwen for commercial auto and pricing, Tom for reserves, Rohan for filed statements and RBC, Benedict Osei for investments and capital, Maren Ostby for reinsurance and catastrophe, Leah Brandt for risk management and ORSA. Owners sign off by Fri 16 Oct, Claire reviews the whole submission on Wed 21 Oct.
- 10Fri 23 Oct · a week early
Signed, released and filed for next year
Victor Salgado · Chief Financial OfficerThe pack assembler checks the list before the CFO signs: all 48 answers approved by their owners, a clean consistency report, 124 of 124 figures tied to a filed source, 7 exhibits attached, the transmittal letter drafted and section 8 co-signed by the Chief Risk Officer. Victor signs and releases to S&P Global Ratings, and every signed answer is filed in the answer library for next year.
“Released to S&P Global Ratings by Victor Salgado. 48 answers, 7 exhibits and the consistency report.”