GRIP was established by the Profession's General Insurance Board in late 2005 to review actuarial involvement in premium rating issues, and followed the work of the GRIT taskforce which considered a range of issues relating to reserving.

Following extensive consultation involving members of the Profession and external stakeholders, the working party has produced its final report.

The Report sets out the findings of a number of separate workstreams which were established to consider the following different areas:

• Role - The role of the actuary in pricing;
• Methods - Issues relating to methods in use and areas for further research (personal lines, commercial lines and London Market);
• Communications - Issues relating to communication, in particular in the light of stakeholder feedback;
• Education and CPD - Reviewing the relevance of the current syllabus, CPD and other education issues;
• Guidance - Reviewing the needs for amendments/addtions to formal professional guidance;
• Treating Customers Fairly - discussing trends in this area of relevance to pricing.

The Report also contains a number of appendices expanding on the above themes, including two sections which describe in detail methods currently used in personal lines pricing and London Market pricing.

Any queries concerning the GRIP report should be addressed to Peter Stirling, Secretary of the General Insurance Board, at peter.stirling@actuaries.org.uk.

Committee members and terms of reference