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Data from the Institute and Faculty of Actuaries shows material worsening of bodily injury claims experience
4 July 2012
• Staggering 18% increase in proportion of accidents involving bodily injury
• £400m estimated extra cost to insurance industry
• Clear correlation between injury hotspots and claim management company locations
• Drivers likely to bear brunt of costs with rising motor insurance premiums
• UK hotspots worsen as US hotspots improvePhilip Scott becomes president of the Institute and Faculty of Actuaries
25 June 2012
Philip is a non-executive director of the Royal Bank of Scotland and of Diageo plc. Over his 37 years in the financial services industry Phillip was Chief Executive of Aviva International and Norwich Union Life, and was Chief Financial Officer of Aviva plc. As president he brings his understanding of risk, finance, international operations and business management in the investment and life and pensions industries to the Profession.
Institute and Faculty of Actuaries commends Industry Working Group's Code of Good Practice to its members
8 June 2012
The Institute and Faculty of Actuaries is supporting the new Code of Good Practice relating to Incentive Exercises, including Enhanced Transfer Values (ETVs) which was published today by an Industry Working Group, which included the Institute and Faculty of Actuaries, the NAPF, the ABI and the Department for Work and Pensions (DWP).
Alan Howard, spokesperson for the Institute and Faculty of Actuaries, sat on the steering committee responsible for overseeing the development of the Code. He comments:
Past President of Institute and Faculty of Actuaries, Ronnie Bowie, lays out roadmap for new sustainable pension system at Brighton Pensions Conference
31 May 2012
Speaking in Brighton today at the Institute and Faculty of Actuaries Pensions Conference Ronnie Bowie, past president of the Institute and Faculty, addressed an audience which included Shadow Pensions Minister Greg McClymont and Mark Hyde Harrison from the NAPF, with his roadmap to a new and sustainable pension system for the UK.
The roadmap highlighted five key areas that need to be addressed if future generations are to enjoy sustainable pension provision:
Long-term care market still baffling for consumers
2 May 2012
Leading experts on the long term care market examined the way forward for individuals with future care needs. With the rumoured publication of a progress report on the funding of long term care now expected alongside the Government’s White Paper on Social Care in June a key theme continues to be the confusion that the current system and Dilnot proposals could cause consumers.
Huw Evans from the Institute and Faculty of Actuaries comments on today's statement from the Pensions Regulator regarding funding in the current environment for defined benefit pension schemes
27 April 2012
"The statement makes it clear that the scheme funding regime has the flexibility to remain fit for purpose even in extreme conditions, and that trustees and employers should look for evidence based solutions to address the risks that they face.
The Actuarial Profession Comments on PPI Extending Working Lives Research: "We now have a clear view of the problems that await the over 50's facing retirement, so it is time for all relevant bodies to sit around the table and identify solutions".
25 April 2012
Jane Curtis, President of the Institute and Faculty of Actuaries comments:
“We welcome this research which has provided new and updated data that helps to identify the problems that await the over 50s as they reach state pension age, and that policy makers, regulators, the financial services industry, the Government and individuals need to tackle.
Singapore university receives accreditation from Institute and Faculty of Actuaries
23 April 2012
The Institute and Faculty of Actuaries signed an agreement on Friday 20 April 2012 that will make it simpler for NTU actuarial science graduates to gain exemptions from the first eight of 15 professional examinations that the institute requires for qualification as a professional actuary.
Accreditation by the Institute and Faculty of Actuaries is a major endorsement of NTU’s actuarial science programme as it recognises that knowledge and skills taught at the university’s courses match the needs and standards of this highly regarded and technical profession.
David Hare to become Institute and Faculty of Actuaries President-elect for 2012-2013
17 April 2012
A specialist in life insurance, Dr Hare is shortly to become a partner with Deloitte following a career with Scottish Mutual, Abbey National and, latterly, Standard Life.
Actuarial Profession welcomes FRC reform proposals
27 March 2012
Commenting on the proposals to reform the Financial Reporting Council (FRC) published today by the Department for Business, Innovation &a