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…
Issue Brief
DSAC Releases Paper on Natural Experiments
The Data Science and Analytics Committee (DSAC) has released an issue paper, Natural Experiments. The paper discusses an approach to establish causation that approximates the construction of a…
Issue Brief
Defining Big Data
The Data Science and Analytics Committee released an issue paper, Defining Big Data. The paper is intended to build a shared language and concepts of big data and associated themes for the actuarial…
Issue Brief
New Paper Examines Climate Events and Their Effects on Various Populations
The Climate Change Joint Committee released an issue paper, Climatic Events, Inequities, and Risk Mitigation. The paper focuses on the cause-and-effect relationship that different climatic events…
Issue Brief
Climate Change Joint Committee Releases ESG Issue Brief
The Climate Change Joint Committee released an issue brief, ESG and the Actuary, which is intended to present some of the basics of environmental, social, and governance (ESG) considerations as…
Issue Brief
Committee Releases Issue Brief on Group Capital Requirements
The Prudential Regulation Committee released an issue brief, Introduction to Insurance Group Capital Requirements, which focuses on U.S. application, including a discussion of the two primary…
Issue Brief
Issue Brief Examines Dividend Limitations
The ERM/ORSA Committee released an issue brief, Dividend Limitations-Affiliated Transactions. The issue brief focuses on two issues: 1) review of the existing dividend limitation-which is the maximum…
Issue Brief
Discrimination: Considerations for Machine Learning, AI Models, and Underlying Data
This issue brief defines discrimination (including distinguishing between discrimination, unfair discrimination, and unjust discrimination); presents practical methods for testing and monitoring…
Issue Brief
DSAC Issue Brief Examines Data Bias
The Data Science and Analytics Committee (DSAC) released an issue brief, An Actuarial View of Data Bias: Definitions, Impacts and Considerations. The issue brief-the first in a new DSAC series…
Issue Brief