New proposals after “fundamental questions” about quality
The Financial Reporting Council (FRC) has published two papers calling for tougher regulation of actuaries working in life and pension and in general insurance.
The FRC has listed six proposed drivers of actuarial quality:
- Reliability and usefulness of actuarial methods
- Technical skills of actuaries
- Communication of actuarial information and advice
- Ethics and professionalism of actuaries
- Working environment for actuaries
- Other factors outside the control of actuaries
Sir John Bourn, Chairman of the Professional Oversight Board, said: “Our paper raises some fundamental questions about the role of the Actuarial Profession in monitoring the activities of its members and about the increasingly important role of actuarial firms.”
Paul Seymour, Chairman of the Board for Actuarial Standards, commented: “It is important for all of us to have a shared understanding of what actuarial work is and the factors which can make it of high quality.”
The consultation ends on 30 September 2009.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
