News

Spring 2022 grading will once again have an optional, in-person session! We look forward to the opportunity of seeing you in person again!

The Actuarial Standards Board (ASB) of the American Academy of Actuaries approved for exposure a revision of Actuarial Standard of Practice (ASOP) No. 29 now titled, Expense Provisions for Future Cost Estimates for Prospective Property/Casualty Risk Transfer and Risk Retention.

The CAS Board of Directors has adopted an updated Strategic Approach to Diversity, Equity and Inclusion (DE&I), a revised version of the strategy adopted in October 2020 that reflects member feedback received through an exposure and comment period.

Social inflation—the impact of rising litigation on insurers’ costs—increased claim payouts for commercial auto insurance liability alone by over $20 billion between 2010 and 2019, according to a new paper by Insurance Information Institute (Triple-I), in partnership with the Casualty Actuarial Society (CAS).

The CAS University Engagement Advisory Working Group (UEAWG) has several exciting volunteer opportunities including short-term projects! If you have any questions about the below opportunities, please email the relevant contact listed in section.

A new paper has been published on the Variance website: “Recommender Systems for Insurance Marketing” by Giorgio Alfredo Spedicato and Giuseppe Savino.

Using the Hayne MLE Model: A Practitioners’ Guide, a new volume in the CAS Monograph Series, is now available for download. This monograph, written by Mark Shapland, illustrates the practical implementation of the Hayne MLE modeling framework as a powerful tool for estimating a distribution of unpaid claims.

Due to the evolving situation regarding the COVID-19 variant Omicron, the CAS will move forward with the Ratemaking, Product and Modeling Seminar as a completely virtual event, held March 15-16, 2022.

Climate risk, cyber concerns, and financial volatility are the top emerging risks according to an annual survey of risk managers. Providing insights on emerging risks over time, the 15th Annual Emerging Risk Survey is sponsored by the Joint Risk Management Section (JRMS) of the Canadian Institute of Actuaries (CIA), the Casualty Actuarial Society (CAS) and the Society of Actuaries (SOA).