Casualty Actuarial Society

Press Room

Announcement Regarding Proposed Changes to Discipline Process

05/11/2011 — Dear CAS Members:

Over the past several years, the Council of U.S. Presidents (CUSP), which is comprised of the Presidents and Presidents-Elect of the U.S.-based actuarial organizations, has held on-going discussions regarding the U.S. actuarial discipline process. As a result of the discussions, CUSP has developed a proposal to improve our discipline process. These changes are intended to increase the efficiency of the process and create greater consistency among discipline outcomes.

As described in the attached letter, the presidents of the participating actuarial organizations are jointly introducing the proposal at this time to the members of the Academy, ASPPA College of Pension Actuaries, Casualty Actuarial Society, Conference of Consulting Actuaries, and Society of Actuaries. Within the letter are links to two additional resources: a set of questions and answers about the proposal and a hypothetical case study that compares the current process to the proposed process.

It is important to note that under the revised process, CAS members retain control of the discipline of our members. If a complaint is lodged against a CAS member and that complaint advances to a discipline hearing, the joint discipline panel will have a majority of CAS members, and a majority of those CAS members will have to register their approval before any discipline will be imposed on the subject of the complaint.

Revisions to the CAS Constitution and Bylaws are required to implement the changes within the CAS, and we expect that the revisions will be voted on in conjunction with the 2011 CAS elections to be held in August. The participating organizations are developing a joint discipline agreement that will define the details and formalize the proposal. The expected final version of the agreement will be presented to the voting members with the proposed revisions to the Constitution and Bylaws to help you understand how the proposed revisions will be implemented in practice.

In order to assist members with their understanding of the proposal in advance of the elections, additional details will be forthcoming. In addition, as described in the attached letter, we welcome your questions, which may be addressed to DisciplineProposal@actuary.org.

Sincerely,

Ralph Blanchard
President, Casualty Actuarial Society

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