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Changes and amendments to the Practising Certificates Scheme

Any changes arising from a review of the Practising Certificates Scheme will normally apply from 1 September.

Changes to the Practising Certificates Scheme will be notified to members through practice area newsletters, by email, or by letter, as appropriate.  Additionally, amended documents are listed below.

Document title

 Date of change  Revised document  Revised by

Change

Practising Certificates Scheme 1 January 2020 Practising Certificates Scheme Regulation Board Reviewed
Practising Certificates Scheme 1 September 2018 Practising Certificates Scheme Regulation Board Summary of changes
Practising Certificates Scheme 1 September 2017 Practising Certificates Scheme Regulation Board Reviewed
Guidance on the Generic Criteria 1 September 2017 Guidance on the Generic Criteria Regulation Board Reviewed
Technical Experience Criteria and Guidance 1 September 2017 Technical Experience Criteria and Guidance Regulation Board Reviewed
Frequently Asked Questions 1 September 2017 Frequently Asked Questions Regulation Board Reviewed
Practising Certificates Scheme 1 September 2016 Practising Certificates Scheme Regulation Board Reviewed
Practising Certificates Scheme 1 April 2016 Practising Certificates Scheme Regulation Board Change to experience requirement
Guidance on the Generic Criteria 1 April 2016 Guidance on the Generic Criteria Regulation Board Change to experience requirement
Technical Experience Criteria and Guidance 1 April 2016 Technical Experience Criteria and Guidance Regulation Board Change to experience requirement
Frequently Asked Questions 1 April 2016 Frequently Asked Questions Regulation Board Change to experience requirement
Quick Reference Guide 1 April 2016 Quick Reference Guide Regulation Board Change to experience requirement
Practising Certificates Scheme 1 September 2015 Practising Certificates Scheme Regulation Board Reviewed
Guidance on the Generic Criteria 1 September 2015 Guidance on the Generic Criteria Regulation Board Reviewed
Technical Experience Criteria and Guidance 1 September 2015 Technical Experience Criteria and Guidance Regulation Board Reviewed
Frequently Asked Questions 1 September 2015 Frequently Asked Questions Regulation Board Reviewed
Quick Reference Guide 1 September 2015 Quick Reference Guide Regulation Board Reviewed

Practising Certificates Scheme

1 July 2015 Practising Certificates Scheme Regulation Board Amendments to incorporate Chief Actuary Certificates
Transition Arrangements 1 July 2015 Transition Arrangements Regulation Board Transtion Arrangements for Chief Actuary Certificat applications
Guidance on the Generic Criteria 1 July 2015 Guidance on the Generic Criteria Regulation Board Amendments to incorporate Chief Actuary Certificates
Technical Experience Criteria and Guidance 1 July 2015 Technical Experience Requirements and Guidance Regulation Board Amendments to incorporate Chief Actuary Certificates
Frequently Asked Questions 1 July 2015 Frequently Asked Questions Regulation Board Additions
Quick reference guide 1 July 2015 Quick reference guide Regulation Board Amendments to incorporate Chief Actuary Certificates

Quick reference guide

01 September 2014

Quick Reference Guide

Regulation Board

Reviewed

Practising Certificates Scheme

01 September 2014

Practising Certificates Scheme

Regulation Board

Reviewed

Frequently asked questions 01 September 2014 Frequently Asked Questions Regulation Board Reviewed 

Guidance on the generic eligibility criteria

01 September 2014 Guidance on the generic eligibility criteria Regulation Board Reviewed 
The technical experience criteria and guidance on their application 01 September 2014  The technical experience criteria and guidance on their application Regulation Board  Reviewed 

Practising Certificates Scheme

01 September 2013 

Practising Certificates Scheme

PREC

Reviewed 

Guidance on Generic Criteria

01 September 2013 Guidance on Generic Criteria  PREC

Reviewed 

Frequently asked questions

01 September 2013 Frequently Asked Questions PREC

Additions

Quick reference guide 01 September 2013 Quick Reference Guide PREC Quick introduction to the PC Scheme
Practising Certificates Scheme 01 September 2012 Practising Certificates Scheme PREC Reviewed
Frequently asked questions 01 September 2012 Frequently Asked Questions PREC Additions
Transition arrangements 22 December 2011 Transition Arrangements PREC

Revised timeline for certain mentored pension applications (new section 3A)

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Contact Details

If you have any enquiries about Practising Certificates please email or write to the Membership Team

practising.certs@actuaries.org.uk

Institute and Faculty of Actuaries, Level 2 - Exchange Crescent, 7 Conference Square, Edinburgh, EH3 8RA

Filter or search events

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E.g., 16/07/2020
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Events calendar

  • Current Issues in Life Assurance (CILA) Webinar series

    Webinar Series
    15 July 2020 - 3 August 2020

    Spaces available

    CILA is one of the pre-eminent events in the annual 'Life' calendar. Due to COVID-19 we are running the programme as a series of webinars covering topics aimed at practicing life actuaries from life offices, consulting firms and other employers of actuaries and those who work in or advise on, the life assurance market in the UK and Europe.

  • Spaces available

    Current Issues in Life Assurance – Mortality in 2020 is now dominated by one thing, although – in our future-focused world – the pandemic is just one of many mortality considerations.  In this session, three well-regarded mortality/longevity specialists provide an overview of implications and impacts of COVID-19, recent and imminent CMI developments and more 'future focused' work in the MRSC

  • Spaces available

    Because of Covid-19, forecasters predict a severe recession in 2020, followed by a V or U-shaped recovery. This impacts both individuals and companies. However, compared to previous recessions, the impact on banks of higher credit losses should be mitigated to some extent by government actions. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    This session will provide an overview of the Population Health Management Working Party's research including defining impactability and impactability modelling, discussing some examples of specific modelling approaches, considering the practical challenges across the NHS as well as wider public perception and ethical issues.

  • Spaces available

    Many actuaries consider career opportunities in the Finance and Investment practice area after having started off in more traditional actuarial roles such as valuations, capital management or pricing. This session is aimed at helping actuaries to better understand roles in Finance and Investment and how they can fine tune their skills to pursue such careers.

  • Mortality and Longevity Webinar Series 2020

    Webinar Series
    22 July 2020 - 10 August 2020

    Spaces available

    Due to COVID-19, we are running this programme via a series of webinars commencing 22nd July.

    This webinar series will provide topical and practical updates and discussion on the latest thinking and innovations in mortality and longevity, and is designed to be very accessible to a broad range of experience.

     

  • Spaces available

    Insurers are making increasing use of medical research to help with assumption, models and underwriting. Experienced mortality/ longevity specialists discuss the issues in the interpretation of  medical research papers, using a range of case studies. The case studies will include COVID-19 points of current importance. Many of the concepts discussed (data bias, inference of causation) are also applicable to equivalent questions in 'big data' and advanced analytics.

  • Spaces available

    Members of the Mortality Working Group of the IAA have analysed changes in mortality for about 30 causes of death  and will discuss how causes of death are classified, and the problems of long-term data, appropriate metrics, including "years of life lost" (YLL), causes of death - a "measure of cohortness", the changes in dominant causes of death at older ages, and how can these types of studies enhance mortality forecasting.

  • Spaces available

    Predictive risk assessment and risk stratification models based on postcode-level consumer classification are widely used for life insurance underwriting. However, these are socio-economic models not directly related to health information. Similar to precision medicine, precision life insurance should aim to tailor policy pricing/reserving to the individual health characteristics of each client.

  • Spaces available

    This discussion, the fourth in the Extreme Mortality Events webinar series, will look at what poor model selection and calibration could look like – using inappropriate historical data; using incorrect 2020 mortality data; and inappropriate stochastic model recalibration (or lack thereof). Presented by Chair of the Life Board of the Institute and Faculty of Actuaries, Colin Dutkiewicz. 

  • Spaces available

    This webinar has been re-scheduled from its original date of the 1st July. Although ESG has many buyers across the asset allocation community, from pension funds to sovereign wealth funds, it still hasn’t found its place within the core asset management strategy desks where the money is actually invested. The problem as well as the opportunity is Fixed Income. Plenty of strategies exist for incorporating ESG within Equities, from screening, integration to a combination. ESG has picked up relatively quickly within Equities with rating,indices created using ESG factors. This talk will discuss how we price a quantifiable ESG credit risk premium and make it alpha worthy in a strategy. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series

    With the rising prevalence of dementia, how can we manage this risk effectively and can insurance do more? Matt Singleton, Ageing Lead at Swiss Re, will cover these topics and demonstrate how insurance could help people address their concerns.

  • Spaces available

    Current Issues in Life Assurance – Join us for an exploration session on the use of data science in insurance companies today including how insurers are making sense of and using new data sources and technologies, exploration of practical applications of data science within actuarial work, benefits of data-driven decisions to solve business problems using the power of data and technology, and the role that actuaries can play to harness the benefits of data science.

     

  • Spaces available

    Current Issues in Life Assurance

    This talk will look at a range of such techniques (e.g. mass lapse risk transfer, contract boundaries, risk margin relief, non-standard longevity risk transfer) that have been applied or considered by UK and EU insurers, and the pros and cons of each.

     

  • Spaces available

    Current Issues in Life Assurance.

    The International Association of Insurance Supervisors announced on 14 November 2019 the adoption of v2.0 of the global Insurance Capital Standard (ICS) which will undergo confidential reporting for 5 years starting from 2020. This session will include specific experiences from Legal and General (L&G) as well as global industry perspectives from EY.

  • Spaces available

    Current Issues in Life Assurance

    This session will cover the PRA supervisory statement on financial impacts related to climate change, industry insights into PRA climate risk business plans, examples climate risk strategy setting out key workstreams and activity steps for successful execution, an overview of a climate risk strategy execution timeline and the future.     

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Using new and unique research and data from the UK, US, Sweden and China, this presentation investigates how consumers use the internet through their insurance journey and analyzes the role culture and generation plays in their online behaviour. We use this research to show the online landscape for insurance sales in the UK and suggest ways to shape new products and effectively engage with the consumer who is buying them.

  • Spaces available

    Chief Medical Officer (CMO) for Gen Re Life/Health Research and Development, Dr John O'Brien, will discuss the impacts of Gene Modification for life/health insurance. 

  • Spaces available

    As an industry, it has been important to be able to look to the future to identify the next quantifiable risk. In this session, I will explore some of the less tangible, but none-the-less concerning risks to future health, such as the health risks associated with exposure to pesticides, ingestion of plastic in the food chain, and the hazards of indoor air pollution through exposure to volatile organic compounds.

  • Spaces available

    The working party will help the industry to update and enhance how potential risk from diabetes and excess mortality is considered, including the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. Modelling the structure and trends of cancer morbidity risk is important for pricing and reserving in related health insurance fields such as critical illness insurance and care provision. We model the dynamics of cancer incidence over time in different regions in England, using 1981-2016 ONS data. The modelling allows estimation of cancer rates at various age, year, gender and region levels, following a Bayesian setting to account for statistical uncertainty. Our analysis indicates significant regional variation in cancer incidence rates. 

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. In this talk we will outline the steps Aviva took in pulling together our first large-scale disclosures on the exposure of our business to climate change published in March 2019; in line with the recommendations of the Taskforce on Climate-related Financial Disclosures. After touching on why insurers have such an important role in climate change, we'll cover a brief “how-to” guide for those who have not yet embarked on thinking about these topics before giving a case study of how the learnings from a TCFD disclosure exercise can be applied to investment portfolios.

  • Spaces available

    Part of the Protection, Health and Care Conference 2020 webinar series. 

    The insurance industry currently underwrites customers with diabetes based on a range of factors, medical expertise and various medical studies. The work undertaken by the Diabetes Working Party would help the industry to approach this using current research findings to update and enhance how potential risk from diabetes is considered. This includes the need to understand the underwriting implications as treatments improve, and potentially to develop new products that are tailored to those with diabetes. This webinar will present our latest findings in the management of this important chronic condition which will include research in collaboration with the ARC.