The Resource and Environment Research & CPD Committee (R and E RCPD) has oversight of all the working parties listed below and encourages them to undertake research that can be shared with Institute and Faculty of Actuaries (IFoA) members via sessional papers, articles in The Actuary or the British Actuarial Journal (BAJ), and presentations at conferences and workshops.
The Committee currently has seven active Resource and Environment research working parties exploring the following topics:
- Climate Change - focusing on a broad range of topics covering all practice areas likely to be affected by climate change
- Practical Guide to Climate Change for GI Practitioners - created to examine the main implications of Climate Change for General Insurance actuaries and identify the best ways to manage those implications
- Practical Guide to Climate Change for Investment Actuaries - created to examine the main implications of Climate Change for Investment actuaries and identify the best ways to manage those implications
- Practical Guide to Climate Change for Life Actuaries - created to examine the main implications of Climate Change for Life actuaries and identify the best ways to manage those implications
- Systems Thinking Incubator - created to influence the wider IFoA to develop and incorporate thinking around systems as well has helping to develop and promote the approach itself.
The committee also has links to several working parties led by other practice areas.
Members interested in volunteering for a research working party should check Volunteer vacancies for current and new working parties.
The R and E RCPD collaborates with external researchers studying relevant topics. For example:
- Sustainable Finance Programme – the University of Oxford’s Smith School of Enterprise and the Environment is seeking to understand how finance and investment intersects with the environment and sustainability, with particular emphasis on “stranded assets”. The IFoA is represented on the Programme’s Global Advisory Council by Mike Clark
- Centre for Understanding Sustainable Prosperity – the IFoA is a non-academic partner in this multi-disciplinary research centre, based at the University of Surrey.
The IFoA is also actively involved in commissioning strategic and external research relating to Resource and Environment.
Information on research undertaken by universities and other external agencies which receive funding and/or support from the IFoA, as well as the IFoA’s strategy for involvement, the process for calls for research, current research initiatives and funding, can be found in Research and Knowledge.
- 9 November 2017
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For more information about Resource and Environment working parties contact the Communities Team
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The International Accounting Standards Board (IASB) recently published an Exposure Draft (ED) of limited changes to its insurance contracts standard IFRS 17, effective date 2022.
The IFoA hosts regular roundtable meetings with the PRA on best practice in insurance investment and the application of the Prudent Person Principle, which governs insurance investment under Solvency II.
Presenter: Rahul Verma
Presenter Matt Modisett
An introductory session to help you get ahead with climate change.
- Science, terminology and initiatives: handy facts to keep in your back pocket
- Getting your point across: how to influence people and avoid common traps and pitfalls
- Taking action: what are actuaries expected to do...and what are we actually doing?
This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:
- FCA business plan priorities
- The future of regulation
- FCA Engagement in Scotland
For life insurers in the UK, the risk margin is one of the most controversial aspects of the Solvency II regime. Following its implementation, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business – such business is of great significance to the national system for retirement provision. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into Solvency II.
GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year.
Presenter Jon Spain
Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.
Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better?
It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.
The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October. The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters.
The Life Conference is the premier event for professionals interested in life insurance. Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.
The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker. Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.
Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP.