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Applying for Membership as a Fellow
Current Associate
If you are a current Associate in good standing with the CAS, no additional application is necessary for Fellowship. An Associate becomes a Fellow and may begin using the FCAS designation immediately upon official notification of successful completion of all Fellowship requirements as prescribed by the Board of Directors. The CAS president will send new Fellows an official confirmation letter.
1. Introduction
The Casualty Actuarial Society (“CAS”, “Association”, “we”, “us,” and “our”) respects individual privacy and values the confidence of our members, candidates, program participants, other professionals, and our community.
The thirteenth in the series. Conducted by Max J. Rudolph of Rudolph Financial Consulting LLC, the survey incorporated a set of Emerging Risks defined by the World Economic Forum as the basis for several of the questions. The survey also included questions related to current risk management topics.Now available is a report presenting the major findings from the study. The full report will be released later in the year.
CLIMATE CHANGE TOPS EMERGING RISKS IN 2019 SURVEYThe Annual Survey of Emerging Risks, sponsored by the CAS/SOA/CIA Joint Risk Management Section (JRMS), a collaboration of the Casualty Actuarial Society (CAS), Society of Actuaries (SOA), and Canadian Institute of Actuaries (CIA), attempts to track the thoughts of risk managers about emerging risks across time.
Save the date and stay tuned for more details on the following CE opportunities.
Ratemaking, Product, and Modeling (RPM) Virtual Seminar
March 15-17, 2021
The RPM Seminar Planning Committee is putting on this three-day virtual event complete with:
Established in 2016, the CAS University Award Program celebrates and promotes universities for the innovative and exemplary ways they prepare students for a career in the property and casualty insurance industry. Each year up to three schools are honored through this program. The winners each receive substantial recognition, such as on the CAS website and in a press release, as well as a monetary award of $5,000 to further enhance their programs.
Sample Integrative Questions
As originally announced in the December 2016 issue of Future Fellows, the CAS is gradually moving towards an integrative testing framework for Fellowship exams. Integrative Questions (IQs) require candidates to understand multiple facets of the syllabus material and concepts in addressing complex business problems in a single exam question.
IQs were first introduced in Spring 2017 on Exam 9, and were included on Exams 7, 8, and 9 in subsequent sittings. The CAS has received and considered candidate feedback on IQs following each sitting.
The Casualty Actuarial Society has developed a Property and Casualty Resource Library, created specifically for professors who teach actuarial science and related courses and are a member of Academic Central.
Join CAS Academic Central
CAS Monograph No. 8: Stochastic Loss Reserving Using Bayesian MCMC Models (2nd Edition)
by Glenn Meyers, FCAS, MAAA, CERA
Exams 1 and 2
Obtaining credit for these basic education requirements from the CAS is detailed below and in each individual exam syllabi.
Exam 1 - Probability
Exam 2 - Financial Mathematics
How to Obtain Credit for Exams 1 and 2
Credit can be obtained for these exams by taking the exams of one of the following organizations:
The Casualty Actuarial Society Trust affords members and others an income tax deduction for contributions of funds used for scholarships and research grants.
This includes their potential impact on our ability to safely and effectively administer exams to CAS candidates at testing sites around the world. After reviewing the latest information from the World Health Organization and U.S.
Deadline Extended to October 15, 2020The Casualty Actuarial Society is pleased to announce a call for essays on the property-casualty insurance implications of COVID-19.As COVID-19 and related government-issued stay-at-home orders have impacted the P&C industry in a number of ways, the CAS would like to know how P&C actuaries, actuarial science academics, insurance industry professionals and risk managers are responding to the crisis. The CAS is looking for individuals to prepare short essays addressing a variety of COVID-19-related topics.
The Casualty Actuarial Society (CAS) has now launched its Climate Change Resource Library, a compendium of past meeting and seminar presentations, recordings, articles and research papers all related to the impacts of a changing climate on P&C insurance risks. As CAS members know, actuaries are uniquely positioned to record, report on and analyze climate change data.
The Casualty Actuarial Society has co-sponsored a new comprehensive guide to cyber risk exposures for actuaries, insurance companies and anyone involved in pricing cyber risk. "Exposure Measures for Pricing and Analyzing the Risks in Cyber Insurance," by Michael A. Bean, FCAS, CERA, FCIA, FSA, Ph.D., provides insight into parameters for cyber risk exposure and explores why cyber liability poses such a unique problem for pricing risk.
The CAS has finalized the Fall 2020 exam schedule, which has been revised to accommodate the addition of Exams 7 and 9 to the fall sitting and the transition of exams MAS-I and MAS-II to computer-based testing. The new schedule is as follows: Exam Date MAS-I November 10, 2020 MAS-II November 13, 2020 Exam 5
The 2020 Hachemeister Prize has been awarded to Ronald Richman for his paper, “AI in Actuarial Science,” presented at the 2019 ASTIN Colloquium. The Charles A. Hachemeister Prize is awarded annually to ASTIN Bulletin or ASTIN or AFIR Colloquium paper(s) based on several criteria but with emphasis placed on the paper’s impact for North American actuaries and its practicality of application.
Arlington, Va. – October 18, 2019 – The Casualty Actuarial Society (CAS) today announced that its Board of Directors has confirmed the recommendation of its Search Committee, led by CAS President Jim Christie, to appoint Victor R. Carter-Bey, D.M., M.B.A., as the new CAS chief executive officer.
The National Association of Insurance Commissioner’s (NAIC) Casualty Actuarial and Statistical Task Force (CASTF) is evaluating continued competence of appointed actuaries after receiving a designation and has requested the CAS and SOA develop a new continuing education (CE) log for use by appointed actuaries.
ACADEMIC COMMUNITY
MEETING AND SEMINAR FEE WAIVER PROGRAM FOR ACADEMICS
The CAS values the contributions of academics to the advancement of actuarial science and encourages academics to participate with practitioners at CAS meetings and seminars. Registration fees for CAS meetings and seminars are waived for up to three events per year for members of CAS Academic Central and full-time academic members of the CAS.
We have become aware that due to the COVID-19 disruption, many universities are offering students the option of choosing a pass/fail score for their spring semester courses. Most of those are offering the option at each students' discretion and have indicated that a passing score would be a C or above.
Fair Value of P&C Liabilities: Practical ImplicationsThe Casualty Actuarial Society provided funding for the Tillinghast business of Towers Perrin to undertake research that analyzed the potential impact on the U.S. property and casualty insurance industry of converting from GAAP to fair value financial reporting, an ongoing initiative of the International Accounting Standards Board and the Financial Accounting Standards Board.
Research & Development Working Groups
CAS Research Working Groups and Task Forces play a critical role in advancing actuarial science through identifying research topics, reviewing proposals and papers, working with researchers and making recommendations. This work contributes to the growing body of research that will support actuaries in their day-to-day functions, offer novel approaches to problem solving and address current issues.
Resources for CAS Regional Affiliates
The following information is provided as a resource to Regional Affiliates.
The CAS provides a variety of services to Regional Affiliates and Special Interest Sections. Following is a list of the more common services. Please contact Mikey Bevarelli, Membership and Volunteer Engagement Specialist, directly for any of the listed services.
2016 CAS University Award Winner
Illinois State University
