General insurance and the public interest

Document description

The actuarial profession has assumed for itself a public interest role. It is promoting this fact widely. So, before actuaries working in general insurance end up on Today explaining to John Humphrys precisely how, for example, recommending premium rate increases relates to the public interest, they ought to think carefully about what that role means to them. This report is intended to stimulate those thoughts. It is far from being comprehensive, not all of the situations identified are applicable to all general insurance actuaries, and it does not have all of the right answers. In fact, it contains very few answers, as we on the Working Party have carefully avoided making specific recommendations of that nature.