Continuing Education Information
The Casualty Actuarial Society Board of Directors approved the CAS Continuing Education Policy at its May 23, 2010 meeting. At its November 9, 2014 meeting the CAS Board of Directors approved a significant revision to the policy. Continuing professional education is an integral part of any profession. The Board believes that the CAS Continuing Education Policy represents a significant milestone in ensuring that CAS members stay accountable to their principals and the public by maintaining appropriate levels of relevant continuing education.
The CAS provides continuing education through live events and online content to actuaries and other professionals interested in property, casualty, and similar risk exposures. CAS works to create programs to enhance an actuary’s skills and knowledge and help experienced professionals keep up to date on advances in the field.
Members are encouraged to review the complete CAS Continuing Education Policy for all of the details on the CE requirements and Frequently Asked Questions (FAQs) for more information.
Key Elements of the CAS Continuing Education Policy
- The CAS Continuing Education Policy applies to all ACAS and FCAS members who provide Actuarial Services. Actuarial Services are defined in the CAS Code of Professional Conduct as “professional services provided to a Principal by an individual acting in the capacity of an actuary. Such services include the rendering of advice, recommendations, findings or opinions based upon actuarial considerations.”
- Members who are or could be subject to the continuing education requirements of a national actuarial organization must meet the requirements of the CAS Continuing Education Policy by satisfying the continuing education requirements established by a Recognized National Standard. The CAS policy has the most impact on those providing actuarial services internationally in a jurisdiction for which a local CE requirement does not apply to them, or for those in the US providing actuarial services but no actuarial opinions as broadly defined by the Academy, both of which must still meet the CAS CE requirements by meeting requirements in one of the Recognized National Standards.
- Alternatively, members who are not subject to any continuing education requirement of a Recognized National Standard must meet the continuing education requirements of the Recognized National Standard most relevant to them. For actuarial services to be rendered on or after January 1, 2016, the Alternative Compliance Provisions of the CAS CE Policy effective January 30, 2013, will no longer be a compliance option. To satisfy the CAS Continuing Education Policy for credits earned in calendar year 2015, ACAS and FCAS members who provide Actuarial Services will be required to have satisfied the continuing education requirements established by a national actuarial organization recognized by this policy as of December 31, 2015. At their option, individual members may elect to delay implementation and continue under the policy effective January 30, 2013, for one additional year, that is, through 2016.
- Members must maintain a log of their continuing education activity to document that they have met the continuing education requirements of the CAS Continuing Education Policy.
- Members must certify compliance with the CAS Continuing Education policy by December 31, 2014.
- The CAS online membership directory will be modified to include a heading for CAS Continuing Education; this portion of the membership directory will be available to the general public. The CE Heading shows members as: Compliant, Not Currently Providing Actuarial Services, or Non-Compliant.
- In order to verify the integrity of the information maintained on the CAS membership database on which an outsider might rely, the CAS may randomly audit a small percentage of the continuing education logs for members who have attested their compliance with the Policy each year.
- CAS members who are listed as Non-Compliant with the CAS Continuing Education policy may be subject to administrative and other penalties.
In summary, the biggest change for most of our members will be the need to certify compliance annually, and have their log of continuing education activity available for potential audit by the CAS.
- January 1, 2015, CAS Continuing Education (CE) Policy (.pdf)
- January 30, 2013, CAS Continuing Education (CE) Policy (.pdf)
- Sample Log of continuing education activity
- Log on to www.MyTRACE.org and track your continuing education credits with TRACE.
- Log onto CCA's CPD/CE Tracking Tool and track your CE credits with it
- CAS CE Compliance Audit Procedures
- Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States (Including Continuing Education Requirements)
- Related Articles from the Actuarial Review and Future Fellows