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A new paper has been published on the Variance website:
“Required Sample Size in Capital Modeling” By Yingjie Zhang
Required sample size is calculated for accurately estimating VaR and TVaR. Simulated investment loss and cat loss have different shape and tail behavior, which leads to different required sample sizes.
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Candidate Representative application deadline extended to Thursday, October 20, 2022.
The CAS Research Paper “Defining Discrimination in Insurance” by Kudakwashe F. Chibanda, FCAS, has been revised from the original posted on March 31, 2022. The revision corrects Figure 5, “Process for Determining Disparate Impact.” See errata for details.
While enterprise risk management (ERM) in North America was once limited to only five risk categories, it has since evolved into a complex ecosystem of risk. A new report jointly published by the Casualty Actuarial Society, Canadian Institute of Actuaries and Society of Actuaries focuses on ERM in Canada and the U.S.
The Casualty Actuarial Society (CAS) is pleased to announce that eight university students have been selected as recipients of the 2022 CAS Trust Scholarship! This honor was created to further students’ interest in the property and casualty actuarial profession and encourage the pursuit of the CAS designations. This year’s awardees are Neil Bhardwaja, Jacob Heit, Gabriel Morin, Caitlyn Nielson, Gavin Rublewski, Celeste Trevino, Jabari Washington and Trisha Vazquez.
We want to hear from you – our valued members!
The CAS Board is inviting all members to complete a survey on membership engagement in the CAS to better understand how members want to engage with CAS leadership on our strategic direction. The survey was designed by a Board working group formed to focus on engagement, and the input received will guide the Board in considering additional opportunities for engaging the CAS membership in the future.
Registration for the October/November 2022 CAS Exams MAS-I, MAS-II, 5, 6-Canada, 6-International, 6-US and 8 will close on October 7, 2022 at 11:59 p.m. ET.
The Trustees for the Casualty Actuarial Society Trust are pleased to announce that Red Mountain Technologies has donated $6,500 to the CAS Trust to support scholarships for the next generation of property and casualty actuaries. The CAS Trust is a 501(c)(3) non-profit providing scholarships and research grants in furtherance of the Casualty Actuarial Society’s mission to advance actuarial science.
The International Association of Black Actuaries (IABA) has selected Casualty Actuarial Society (CAS) President-Elect Roosevelt Mosley Jr., FCAS, CSPA, MAAA, as one the recipients of its prestigious Lifetime Achievement Award.
Are you ready to compete with some of the best and brightest young minds in the industry? The International Actuarial Association (IAA) Young Actuaries World Cup (YAWC) is a friendly global competition that provides young actuaries with an opportunity to showcase their skills under the framework of the profession's premier global event: the International Congress of Actuaries (ICA).
Link to the Agenda
In recent years, flames have blazed across California like never before. While wildland-urban interface zones have burned, the heat is also being felt in insurance regulation, creating a need for innovative solutions. The devastating aftermath of the California wildfires has ignited the minds of insurance entities, scientists, and property owners to begin rewriting the rulebook for wildfire coverage in the insurance industry. California is rebuilding not only its communities but the way it approaches wildfire.
The excess casualty line of business is at the epicenter of key trends impacting the industry, including social inflation, market hardening, and delays in the legal and claims process due to Covid 19. This multidisciplinary panel will discuss and assess the impact of those trends. It will also provide updates on litigation trends and exposures relevant to reserving actuaries.
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Prior to a rate change implementation, it is common for pricing actuaries, product managers and other insurance leaders to compare various rate scenarios and choose the one that best aligns with business objectives and regulatory considerations. However, to fully understand the impact of a rate change on a book of business, customer demand should be considered. This session will demonstrate how GBMs can be used to incorporate customer demand into a rate change decision-making framework.
Two new papers have been published on the Variance website:
“The Skewness of Cape-Cod in a Distribution-Free Model” By Eric Dal Moro
Based on an innovative stochastic model, this paper provides an estimation of the skewness of the reserving distribution resulting from the application of the Cape-Cod method on a triangle.
This session will provide comments on the current state of the professional liability market in 2022. We will highlight information for three property/casualty coverages: directors & officers, lawyers and cyber. All three coverages had similar trends.
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