Actuarial Review of Insurer Insolvencies and Future Preventions – Phase 1 Now Published
Sponsored by the CAS, the Canadian Institute of Actuary (CIA), and the Society of Actuaries (SOA), this new study looks at causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency. Further, this study considers ways the profession can be equipped to prevent or mitigate future insolvencies. In addition to directly benefitting the profession, the work is also intended to assist other insurance industry practitioners in understanding the complexities of insurance company solvency and the benefit of keeping the actuarial profession in the forefront of company management, operations, and regulatory communication.
Each case study contained in the research document targets in-depth research on “what went wrong” for one each of life, health, and property/casualty insurance companies. The case studies provide insight into potential actions that could be taken by actuaries and other insurance industry practitioners to help prevent or mitigate future insolvencies arising from similar circumstances.