- considers consultations which have been delegated to it and drafts responses as appropriate, and in accordance with the Institute and Faculty of Actuaries’ (IFoA’s) consultations process
- raises awareness on any issues of importance that may not already be captured
- provides the General Isurance practice area input into UK and international actuarial standards through the IFoA, IAA and AAE.
Membership is drawn from a spectrum of senior actuaries with experience in addressing policy issues, and maintaining standards
Membership of the GISCC 2019/20:
- Kevin Wenzel (Chair)
- John Charles (Deputy Chair)
- Brian Gedalla
- Henry Johnson
- Alex Lee
- James Rakow
- Peter Saunders
- Philip Singh
The committee operates within a Terms of Reference as laid out in the Governance Manual.
How to join the General Insurance Standards and Consultations Committee
All vacancies arising on Boards and their sub-committees are advertised on our volunteer vacancies web page. Further information for volunteers, including tips on how to chair a meeting, can be found in the Volunteer Information Pack (VIP).
If you have any questions about a practice area, its working parties, Member Interest Groups or Board and sub-committees, please contact the Communities Team:
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The Power of Pensions: how can pensions change the future?
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual Middle East, North Africa and Pakistan (MENAP) Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.
COVID-19 has seen a marked increase in mental health issues. We all have mental health and poor mental health has serious consequences for individuals and our workplaces, with it costing UK businesses £33-42 billion annually.
As part of the ARC Webinar Series 2021, this webinar will review the work of the UEA/Aviva research team over the last four years on a major research programme funded by the IFoA’s Actuarial Research Centre.
Climate change poses a significant threat across many regions and sectors, and businesses. Insurers and asset managers, must play a role in ensuring transparency around climate related risks and opportunities.
Whilst insurers have been performing stress and scenario testing for many years, in the last 12 months the PRA has increased its focus on the ability to identify, measure and increase financial and operational resilience.
This webinar provides an overview of the state of the UK protection market, and how different insurers are using different levels of sophistication to price (such as using customer demand models). It considers how insurers have implemented these sophisticated pricing techniques, and the practical challenges they have faced.
This discussion will revolve around the latest industry developments including and introduction to Part VII transfers and Schemes of Arrangement (process, parties involved and recent events), insights and lessons from recent with-profits transactions and restructurings (including Equitable Life and Pru-Rothesay), how firms can apply these learnings to future arrangements, and the outlook for future with-profits transactions and restructurings (including the impacts of Covid-19 and Brexit)
What is stewardship and how has the landscape changed under the 2020 UK Stewardship Code?
- How does effective stewardship create long term value for beneficiaries?
- What roles do asset owners and asset managers play in active stewardship?
- A practical approach to stewardship reporting
Income drawdown products offer an investment strategy to generate an income in retirement. However, for those needing to decumulate their capital to provide a sufficient income in retirement, sequencing risk is high. This is the risk that poor returns are experienced when capital is highest (in the first part of the decumulation phase) and good returns when capital is lowest (in the last part). It is very difficult to recover from this risk, if it is realised. This means that income drawdown products are not very resilient for those needing to decumulate their capital.