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The Risk Management in a Digital World Working Party will present their report and findings at the Sessional Research event on 22 October in Edinburgh, and will use the opportunity to launch their “Guide for Risk Considerations During the Innovation Journey”, in order to support the further development of risk considerations in decision making throughout the InsurTech investment process.
We are currently recruiting for the following volunteer roles:
- Risk Management Actuarial CRO Group - Deputy Chair
- Risk Management - GDPR Working Party - members
- Risk Management - Wider Fields Group - members
- Risk Management in a Digital World Working Party - members
The World Benchmarking Alliance (WBA) aims to help business measure progress against the United Nations’ (UN)’s Sustainable Development Goals (SDGs), by developing free, publically available benchmarks which will rank companies on their contributions to achieving the SDGs.
One of the key concerns with climate change, is the risk of non-linear irreversible climate tipping points, which could lead onto more significant climate change.
This paper explores at what temperature these tipping points may occur, concluding that a 2°C temperature rise may well break the upper safe limit.
The Principles for Responsible Investment (PRI) have launched a paper which considers the various potential drivers of an Inevitable Policy Response (IPR).
This paper further considers when the IPR could occur, what policy and technology pathways it might take, and how these pathways would affect the macroeconomy and risk-returns of financial assets.
The PRI states that an IPR is possible at almost any time in the near to medium term.
Jesper Pan, Deputy Director of the Insurance Department at Monetary Authority of Singapore (MAS) spoke about Sustainable Insurance at a CPD event in Singapore.
He spoke about the impact of climate-related risk in Singapore and of natural catastrophes in South-East Asia. He also shared MAS’ action plan in relation to physical, transition and liability risk and the role of actuaries.
ClientEarth has referred four UK companies (EasyJet, Balfour Beatty, EnQuest and Bodycote) to the Financial Reporting Council (FRC) over failures to adequately address climate change trends and risks in their annual reports.
The Third Party Working Party has extended its scope for 2018 to include analysis and insight into own damage claims.
New exciting volunteering opportunities are now open for General Insurance (GI) actuaries. Three brand new IFoA GI subcommittees are looking for enthusiastic members to foster research, shape conferences and mould education relevant for the coming challenges. This Autumn they will replace the General Insurance Education and CPD (GI ECPD) and General Insurance (GIRO) committees.
In this blog, Chloe Hung, Amazon best-selling author, talks about the evolving industries which actuaries are now working in.
Historically, the actuarial profession was made up of a relatively small community of actuaries who worked mainly within the insurance field. Over the years though, more and more actuaries have been venturing into other fields such as data science, investments, banking, finance and so forth.
Other actuary news
Added: Wed, 24/10/2018 - 16:30The number of UK businesses with a master trust as their main defined contribution (DC) pension scheme is set to more than double over the next three years.
Added: Wed, 24/10/2018 - 13:40A global insurance protection gap of $163bn (£126bn) threatens the livelihoods of millions of people across the world, with poorer countries some of the most at risk.
Added: Tue, 23/10/2018 - 11:00UK insurers dispute nearly half of all large commercial claims, with many businesses thought to have a poor understanding of the conditions and limitations of their policies.
Added: Mon, 22/10/2018 - 17:45UK insurers have been told to review the management of with-profit funds after research from Barnett Waddingham found significant variations in returns.
Added: Fri, 19/10/2018 - 13:10Nine insurance organisations have written to the International Accounting Standards Board (IASB) calling for a two-year delay to the introduction of IFRS 17.
Added: Thu, 18/10/2018 - 18:15The majority of UK employers believe the current pension tax structure is too complicated, research from the Association of Consulting Actuaries (ACA) has found.
Added: Mon, 15/10/2018 - 14:06The Bank of England's Prudential Regulation Authority (PRA) has today published a consultation paper outlining how insurers should best manage the financial risks of climate change.
Added: Mon, 15/10/2018 - 12:00UK drivers saw their car insurance premiums rise for the first time in 12 months over the latest quarter, according to data from Confused.com and Willis Towers Watson (WLTW).
Added: Fri, 12/10/2018 - 15:44The entire cryptocurrency market is on the brink of collapse following a steep decline in the value of Bitcoin over the last year, according to analysis by Juniper Research.
Added: Thu, 11/10/2018 - 18:13Pharma and biotech firms have attracted well over $19bn (£14.4bn) in venture capital investment worldwide this year, considerably more than was recorded over the whole of 2017.