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Risk alerts

Date Title Description
15 January 2021 Risk alert: Funeral Plan Trusts Actuaries’ involved in determining, calculating and verifying the assets and liabilities of UK pre-paid funeral plans are encouraged to be aware of transitional risks, prior to the implementation of FCA regulation, and carry out appropriate due diligence.
22 April 2020 Risk alert: COVID 19 This Risk Alert aims to help bring to the attention of Members some specific issues that have been identified that they may need to consider in the immediate term as a result of the COVID - 19 outbreak.
13 May 2019 

Risk alert: Disclosure of information relating to models

Members must disclose to their own client and, in some circumstances, fellow actuaries, an appropriate level of information in relation to the model they are relying on. 
13 November 2018

Risk alert: GMP Equalisation – immediate issues

Actuaries should ensure that the advice they provide in relation to GMP equalisation (including any adjustments to benefits or transfer values) is limited to those aspects on which as actuaries they are competent to advise - specifically, this would not include advice on the legal implications.

5 January 2018 Risk alert: General Data Protection Regulation (GDPR) GDPR comes into force on 25 May 2018. While many organisations may already be well prepared, it is important that all Members are aware of how the substantial changes and increased obligations under GDPR may impact on their individual role within their workplace.
23 November 2017 Risk alert: Model Manipulation There are a number of risks associated with the use of models. Members must exercise care when using models to ensure that the rationale for selection of a particular model is sound and, in applying that model, it is not inappropriately used solely to provide evidence to support predetermined or preferred outcomes.
12 May 2017 Risk alert: Climate-related risks Actuaries should ensure that they understand, and are clear in communicating, the extent to which they have taken account of climate-related risks in any relevant decisions, calculations or advice.
4 February 2017 Risk alert: Change to the discount rate for settling personal injury lump sum awards Members should be aware of the announcement by the Lord Chancellor about concluding the review of the Ogden discount rate and publishing the result. This change will affect most members working in General Insurance.
30 June 2016 Risk alert: General Insurance Reserving Risk alerts are designed to bring members' attention to topics which arise out of actuarial work which could impact on the public interest.
30 June 2016 Risk alert: Commutation Factors Risk alerts are designed to bring members' attention to topics which arise out of actuarial work which could impact on the public interest.

Contact Details

If you have any queries please contact

regulation@actuaries.org.uk

Regulation, Level 2, Exchange Crescent · 7 Conference Square · Edinburgh · EH3 8RA

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Events calendar

  • Asia Conference 2021 webinar series

    Online webinar series
    26 July 2021 - 30 July 2021
    Spaces available

    We have made it through 2020 but the COVID-19 crisis continues to have a significant impact on individuals, societies, businesses and the wider economy across the globe. Navigating the world post COVID-19 in an uncertain and highly unstable time brings along many uncertainties, challenges and exciting opportunities. Hence the theme of this year’s IFoA Asia Conference Webinar Series is “Risk. Adapt. Thrive.”

  • CMI Income Protection

    30 July 2021

    Spaces available

    In April 2021, the CMI Income Protection Committee published Working Paper 149, which detailed the changes to analysis methodology for the Income Protection Investigation and the impact of past data issues. This webinar will provide an overview of the changes in the analysis approach and discuss the adjustments to the IP11 claim inceptions graduations.

  • Spaces available

    Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s Climate Change Guidance Consultation, which is seeking views on new guidance designed to help trustees meet tougher standards of governance in relation to climate change ri

  • Spaces available

    Risk Management Webinar ProgrammeInternal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible?  This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.

  • Spaces available

    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.