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The Institute and Faculty of Actuaries (IFoA) congratulate everyone listed below on their new status as Fellows, Associates and Chartered Enterprise Risk Actuaries. This notice publicly recognises the many hours of hard work that it takes to reach this significant academic and professional achievement.
Well done; we look forward to hearing more from you during your career and as you help to shape the future of the actuarial profession.
Visesh Gosrani, Chair of the Institute and Faculty of Actuaries Cyber Risk Working Party, explains why insurers need to ensure that they have effectively assessed their exposure to cyber perils within their existing non-cyber policies, and how the framework developed by the Working Party can help them achieve this.
The Institute and Faculty of Actuaries’ (IFoA’s) Engagement and Learning Directorate are seeking to hear from applicants who would like to be considered for the position ofModule Lead for the Health and Care examining teams.
The Chair of the Cyber Risk Investigation Working Party, Visesh Gosrani, presented the framework that the Working Party had developed in order to provide companies to assess their exposure to Non Affirmative Cyber risk.
The presentation highlighted the challenges that insurance companies would face upon commencing the exercise but focused on the need to scope out what might sensible objectives for initial exercises and that it was important to make this start.
Paul Harwood, member of the Risk Management Board will share his thoughts in a series of articles in the new article section of the Risk Management practice area webpages ". Read his first article on "The benefits of perverse outcomes".
Results from the recent Risk community member survey is out!! Read what your fellow members had to say about how the Risk Management Board can engage you more effectively!
The Value of With-Profits for Consumers Working Party have published their final report, detailing the findings from their third phase of research, which can be found on the IFoA Life Working Parties’ webpage alongside previous reports and presentations.
2019 Regulatory Round-up – a recap of this year's regulatory news
Welcome to our roundup of the key regulatory news from 2019, bringing you up to speed on important changes to the Standards Framework of the IFoA as well as any regulatory initiatives that you might have missed over the course of the year.
The Health and Care practice area has a members group on LinkedIn to share topics and articles of interest, and it can be accessed using the link below.
The group can be used to facilitate discussions on a wide range of topics, and the practice board will be using the group to share details of thier work in 2020. Please do consider joining.
Ortec Finance and CFA (Climate Finance Advisors), highlight the importance of taking systemic, macroeconomic climate-related risks and opportunities into account when making strategic investment decisions. This paper explores how incorporating the effects of climate change into investment strategy should be a key component for predicting asset performance as climate impacts become more tangible for investment returns.
Other actuary news
Added: Wed, 08/01/2020 - 11:42The China Banking and Insurance Regulatory Commission (CBIRC) has this year increased the country's foreign ownership limit for life insurers from 51% to 100%.
Added: Tue, 07/01/2020 - 15:38UK pension schemes are treating new environmental, social and governance (ESG) rules as a tick-box exercise, the Society of Pension Professionals (SPP) has warned.
Added: Mon, 06/01/2020 - 14:14The UK's services sector is more optimistic than at any point since September 2018 following the general election and prospect of relative political stability.
Added: Fri, 03/01/2020 - 09:30Environmental, social and governance (ESG) considerations are now the top priority for millennial investors worldwide, research from the deVere Group has uncovered.
Added: Thu, 02/01/2020 - 13:30The UK's bulk annuity market will return to 'normal' levels this year, with £30bn of deals likely over the next 12 months, Willis Towers Watson (WTW) has predicted.
Added: Thu, 19/12/2019 - 10:56The risk of a prolonged low-yield environment has intensified in the last six months and remains the key challenge for European insurers and pension funds.
Added: Wed, 18/12/2019 - 15:43Most of the UK's largest pension schemes are ignoring new regulations by failing to directly engage with large investee companies on their role tackling climate change.
Added: Wed, 18/12/2019 - 13:40There is a clear generational divide when it comes to attitudes around automation in the UK, with older staff feeling most anxious about the prospect, new research has uncovered.
Added: Tue, 17/12/2019 - 14:54Insurance companies will have to change their modelling techniques if they are to identify 'silent cyber' risks hidden in traditional non-cyber products.