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Means test rules act as a barrier to saving for long term care
10 December 2015
Today (10 December) the Institute and Faculty of Actuaries (IFoA) released its second report on the Government's proposed changes to the funding of long term care. The report, 'How financial products can work alongside the Care Act 2014 to help people pay for care', found that current and proposed means test rules act as a barrier to saving for long term care needs.
Increase in severe claims costs increase 11% per year
3 December 2015
The Institute and Faculty of Actuaries’ (IFoA) sixth annual report looking at third party injury (TPI) and third party damage (TPD) motor insurance claims shows the cost per policy of the most severe claims (those with costs above £131,000) has increased on average by 11% per year - due almost entirely to an increase in the average cost of claims rather than a rise in the number of claims.
Top 6 UK cities with highest personal injury claims from road accidents all in the North West of England
3 December 2015
43% of road accidents in the North West result in a personal injury claim versus national average of 30%.
Risk management approach essential to respond to climate change risks
26 November 2015
Risk management should be a central aspect of climate policy to avoid extreme global temperature rises and reduce uncertainty.
IFoA Responds to Autumn Statement
25 November 2015
Fiona Morrison, President of the Institute and Faculty of Actuaries (IFoA), comments on the measures announced in today’s Autumn Statement by the Chancellor of the Exchequer.
Scotland's maths geniuses battle it out in National Final
18 November 2015
Over 240 pupils from 59 schools attended the Enterprising Mathematics National Finals at The Science Centre in Glasgow on Tuesday 17 November. Organised by the Scottish Mathematical Council, the event has been running since 1976 and is sponsored by the Institute and Faculty of Actuaries (IFoA).
Longevity modelling crucial for world's financial systems and UK plc
18 November 2015
The Institute and Faculty of Actuaries’ (IFoA) Longevity Bulletin on Mortality, released today (18 November), highlights the significant impact longevity modelling has for the world’s financial systems and UK plc
√(5! + 7!/(8*3!)) Highland maths weekend allows students to showcase their skills
13 November 2015
Over 50 of the Highland brightest maths students will be coming together over the 13th – 15th November for the Highlands Mathematics Weekend to learn about how to bring their mathematical talent to a career in business and industry.
IFoA appoints Lay Chair for ground-breaking Quality Assurance Scheme
11 November 2015
The Institute and Faculty of Actuaries (IFoA) today announced the appointment of Tanya Castell as Lay Chair of the IFoA's Quality Assurance Scheme sub-committee.
Longevity risk, a ticking time-bomb for retirement
23 October 2015
People underestimate how long they live. Longevity risk - the risk of outliving one’s assets - is hence a global issue that needs to be addressed. The repercussions are examined in detail in The Challenge of Longevity Risk: Making Retirement Income Last a Lifetime, a report jointly released today by the Institute and Faculty of Actuaries (IFoA) in the United Kingdom, the American Academy of Actuaries, and the Actuaries Institute Australia.