Editorial: Upward and Forward
CAS Board Adopts New Vision

by C.K. Stan Khury

Every so often an event signals a significant new direction. Experience also teaches that we seldom recognize the significance of an event at the time it unfolds. The benefit of hindsight is often a necessary accompaniment to full awareness.

Twenty years from now we may conclude that the CAS experienced such a watershed event in late 1996. Recently each CAS member received a copy of the CAS Strategic Plan, circa 1996, accompanied by a letter from then president Al Beer. Why do we see so much potential in this seemingly simple event?

For the first time the CAS Board of Directors has adopted a definition for the term "casualty actuary": a professional who is skilled in the analysis and evaluation of the financial implications of contingent events with respect to property, casualty, and similar risk exposures, and who is knowledgeable of the practical environment in which these risks occur.

For the first time the CAS Board of Directors has adopted a vision statement: to be the prominent resource for education, knowledge, experience, and applied research for those actuaries who specialize in property, casualty, and similar risk exposures, including the field known as general insurance.

For the first time the CAS Board of Directors has adopted a number of key guiding principles that would govern the planning and governance of the CAS for years to come:

1. the CAS is a learned body,
2. the CAS is an independent organization of professionals,
3. the CAS has a distinct identity, and
4. the CAS is a significant contributor to the worldwide actuarial profession.

For the first time the CAS Board of Directors has adopted specific strategies to govern its development including but not limited to a set of parameters that would have to be met before the. CAS would enter into joint ventures with other organizations.

For the first time the CAS Board of Directors has articulated the principal functions of the CAS:

1. education,
2. membership services,
3. research, and
4. public interface, which is delegated to the AAA.

These are all significant firsts. And even more prominent is the fact that this document has teen adopted by the CAS Board of Directors as a living document, meaning that it will be subject to continuous review and updating. To that end the Board of Directors has authorized the distribution of this document and solicitation of comment from members to assist it in the construction of future updates.

The CAS Strategic Plan, circa 1996, is the product of several years’ labor of successive generations of the Long Range Planning Committee, supplemented by final review, amendment, and adoption by the Board of Directors. This mostprofessionall piece of work gives us a strong indication of the vitality of the CAS, its leadership, and committee structure.

Our hope is that members of the CAS will study this document carefully -- and feed back to the Board of Directors any and all thoughts related to the many firsts it represents. It is clearly a sign of upward and forward progress. Letting your known is a sure way to be a part of the energy that drives this work for-II you let your views be known?

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