Risk Management & Financial Reporting
The Academy’s Risk Management and Financial Reporting Council (RMFRC) serves as a trusted source for objective technical insights, and guidance for policymakers and regulators.
RMFRC is dedicated to illuminating decisions and redefining the standards of excellence in the ever-evolving world of Risk and Finance.
Big Data
Academy resources on analyzing vast datasets using advanced computational methods to uncover trends, patterns, and associations.
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Data Science Toolkit
DSAC’s Data Science Toolkit offers a series of resources related to data science, including defining big data, data bias, correlation and causation, emphasizing how they may affect actuarial modeling, and consumer experience.
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Enterprise Risk Management
Issues related to ERM encompassing property/casualty, life, and health actuarial practice areas.
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Federal Insurance Regulation/Systemic Risk
Regulation of insurance by the federal government or as a systemic risk to the economy.
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Financial Reporting/International Accounting
Global financial reporting issues that affect multiple areas of actuarial practice.
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Solvency/Reinsurance
Solvency, risk management, and reinsurance issues impacting various actuarial practices globally.
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Risk Management & Financial Reporting News
Uncategorized
ASB Approves Third Exposure of Proposed ASOP on Estimating Future Costs
The ASB recently approved a third exposure draft of a proposed new actuarial standard of practice (ASOP) titled Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk…
Topics: ASB News
Date Published: 02/08/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 23
The ASB recently adopted a final revision of Actuarial Standard of Practice (ASOP) No. 23, Data Quality. The ASOP provides guidance to actuaries when selecting data, performing a review of data,…
Topics: ASB News
Date Published: 01/18/2017
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Uncategorized
ASB Adopts Final Revision of ASOP No. 24
The ASB recently adopted a final revision of ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation. The ASOP provides guidance to actuaries when performing professional…
Topics: ASB News
Date Published: 01/06/2017
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Risk Management & Financial Reporting Resources
Issue Brief
Attribution Science from an Actuarial Perspective
The Climate Change Joint Committee released Attribution Science from an Actuarial Perspective, an issue brief exploring how climate attribution science can be used in risk assessment and public…
Presentation
Climate Events and Insurance Affordability
Members of the Climate Change Joint Committee, along with Washington Insurance Commissioner Patty Kuderer, presented, Climate Events and Insurance Affordability, at the 2025 SOA ImpACT…
Policy Paper
Measuring Statistical Bias in Data Using Entropy
The Data Science and Analytics Committee (DSAC) released Measuring Statistical Bias in Data Using Entropy, a policy paper exploring how entropy can be used to quantify statistical bias and…
Policy Paper
Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA)
The Climate Related Financial Disclosures Subcommittee and the Climate Change Joint Committee released Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA), a policy paper…
Presentation
Finding and Using Climate Data
Members of the Climate Change Joint Committee presented, Finding and Using Climate Data, at the 2025 SOA ImpACT Conference. This session explored the current landscape of climate data through the…
Comment / Letter
Practice Councils Comment to NAIC on Revised RBC Principles
The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Practice Council submitted a joint comment letter to the NAIC’s…
Comment / Letter
Comment Letter to CASTF Regarding the “Unknown Risk Characteristics in Personal Rating Lines” Exposure Draft
The Data Science and Analytics Committee (DSAC) submitted a comment letter in response to the NAIC Casualty Actuarial and Statistical (C) Task Force’s (CASTF) exposure draft, Unknown Risk…
Resource
Applicability Guidelines for Actuarial Standards of Practice
Introduction to the Applicability Guidelines Actuarial Standards of Practice. The Actuarial Standards Board (ASB) sets standards for appropriate actuarial practice in the United States…
Policy Paper
Scope 3 Emissions for Property/Casualty Insurers
In this policy paper, the Climate Related Financial Disclosures work group has detailed some of the most difficult challenges involved in financial reporting of Scope 3 Emissions for United States…
Comment / Letter