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The Principles for Responsible Investment (PRI) have launched a paper which considers the various potential drivers of an Inevitable Policy Response (IPR).
This paper further considers when the IPR could occur, what policy and technology pathways it might take, and how these pathways would affect the macroeconomy and risk-returns of financial assets.
The PRI states that an IPR is possible at almost any time in the near to medium term.
Jesper Pan, Deputy Director of the Insurance Department at Monetary Authority of Singapore (MAS) spoke about Sustainable Insurance at a CPD event in Singapore.
He spoke about the impact of climate-related risk in Singapore and of natural catastrophes in South-East Asia. He also shared MAS’ action plan in relation to physical, transition and liability risk and the role of actuaries.
ClientEarth has referred four UK companies (EasyJet, Balfour Beatty, EnQuest and Bodycote) to the Financial Reporting Council (FRC) over failures to adequately address climate change trends and risks in their annual reports.
The Third Party Working Party has extended its scope for 2018 to include analysis and insight into own damage claims.
New exciting volunteering opportunities are now open for General Insurance (GI) actuaries. Three brand new IFoA GI subcommittees are looking for enthusiastic members to foster research, shape conferences and mould education relevant for the coming challenges. This Autumn they will replace the General Insurance Education and CPD (GI ECPD) and General Insurance (GIRO) committees.
In this blog, Chloe Hung, Amazon best-selling author, talks about the evolving industries which actuaries are now working in.
Historically, the actuarial profession was made up of a relatively small community of actuaries who worked mainly within the insurance field. Over the years though, more and more actuaries have been venturing into other fields such as data science, investments, banking, finance and so forth.
The Health and Care Lifelong Learning Sub-committee is seeking to recruit up to two members. The Sub-committee are seeking to balance their membership and therefore wish to recruit one member with a PMI background and one member who works for a direct insurer.
The Lifelong Learning (Life Practice) Sub-committee is seeking to recruit up to two members, who should be a Fellow or Associate member of the Institute and Faculty of Actuaries (IFoA).
The Life Research Sub-committee, which oversees between 14 and 20 working parties, is seeking to recruit up to two new members, who could be Fellows or Associates or academics with expertise in actuarial, life insurance or related fields to volunteer to join this Sub-committee to help drive the development of actuarial practice in the Life area.
Other actuary news
Added: Wed, 10/10/2018 - 13:50The IAS 19 accounting standard is falling short in providing enough clarity around pension scheme funding requirements and risk, research from Lincoln Pensions has found.
Added: Tue, 09/10/2018 - 18:12Financial regulation in the UK will get stricter after the country leaves the EU whether a Brexit deal is agreed or not, accounting giant KPMG has predicted.
Added: Tue, 09/10/2018 - 15:00UK savers can expect significant changes to the advice they get when transferring out of defined benefit (DB) pension schemes thanks to new rules introduced by the Financial Conduct Authority (FCA) last week.
Added: Fri, 05/10/2018 - 15:15The UK's £7.7trn asset management sector must step up investment in trade surveillance if it is to comply with growing regulatory scrutiny of individual conduct, KPMG has warned.
Added: Wed, 03/10/2018 - 16:20The Markets in Financial Instruments Directive II (MiFID II) is considered the second biggest challenge facing financial advisers in the UK, greater than Brexit, cyber security, and macroeconomic risks.
Added: Wed, 03/10/2018 - 16:00Regulatory technology investment is set to explode over the next few years, with spending forecast to jump six-fold by 2023 as firms encounter a growing number of compliancy challenges.
Added: Tue, 02/10/2018 - 12:57Insurance companies and banks have significantly improved their resilience to cyber attacks this year, with approximately eight in ten breaches successfully thwarted worldwide.
Added: Mon, 01/10/2018 - 15:21The UK's financial services sector reported a sharp decline in optimism over the last three months, with sentiment deteriorating in all but one quarter since the start of 2016.
Added: Mon, 01/10/2018 - 12:08All master trust schemes will have apply for authorisation through The Pensions Regulator (TPR) to prove they meet tough minimum standards under a new law that comes into force today.
Added: Fri, 28/09/2018 - 18:26UK employers remain divided in their views on how long-term funding for the social care system should be met, a new survey by the Association of Consulting Actuaries (ACA) has found.