The Employment of Property and Casualty Actuaries

The shortage of mathematicians and the attractions of science and industry have combined for many years to limit severely the number of young men who can be persuaded to enter the actuarial profession and, as a result, there is a very real shortage of able qualified actuaries. In Property and Casualty insurance, the regulatory and competitive problems arising out of the McCarran act and the introduction of multiple line underwriting have led to a notable need for actuarial advice, and at the same time have subjected rate making to political and opportunist pressure. Unqualified persons are indeed finding it profitable to call themselves "actuary".