News

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 is pleased to announce that Dr. Jennifer Golbeck will be presenting the keynote session “The Computer Knows Your Secrets: The Power, Challenge and Opportunities of AI + Personal Data” at the upcoming 2022 Ratemaking, Product and Modeling Virtual Seminar.

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.

Much progress has been made since the evolving Volunteer-Staff Framework (VSF) was introduced, and with the evolution continuing into 2022, I’m excited to provide an update to the membership on the latest developments.

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.

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.

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).