AAE submitted a response to EIOPA’s staff paper on measures to improve the insurability of business interruption risk in light of pandemics.
AAE’s submission can be found here.
Month: March 2021
AAE responds to EIOPA’s Pilot dashboard on insurance protection gap for natural catastrophes
AAE submitted a response to EIOPA’s Pilot dashboard on insurance protection gap for natural catastrophes.
AAE’s submission can be found here.
Solvency II review proposal for long term valuation: Significant risk to destroy values!
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Wilhelm Schneemeier |
On first sight this may sound more like a lobbyist statement than a prudent actuarial position. Why does AAE not support the proposal of EIOPA to reduce the risk-free interest rate significantly after 60 years (see also articles in the March issue of “The European Actuary”)? Let me explain step by step why EIOPA’s advice concerning the extrapolation is not justified and even contradicts many actuarial principles and is not aligned with the existing Solvency II framework.
‘What is the AAE’s official position on Solvency II review?’
EIOPA Opinion on Solvency II review – Concerns of AAE
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By Jennifer Baker
This article is a summary of the official AAE Position Paper. |
In February 2021, the Actuarial Association of Europe (AAE) set out its main positions regarding the Solvency II 2020 review.
While acknowledging that Solvency II is intrinsically a well-functioning, risk-based framework, the AAE believes that the experience of the past five years of application, along with the low interest environment, reveal a need to change parts of the current framework.
This article was published in The European Actuary No. 25 – March 2021
AAE responds to EIOPA’s Consultation on the Supervisory Statement on ORSA in the context of COVID-19
AAE submitted a response to EIOPA’s Consultation on the Supervisory Statement on ORSA in the context of COVID-19.
AAE’s submission can be found here.
‘Can you predict without historical knowledge? Peter Kingsley approaches this dilemma’
Decision making in uncertainty
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PETER KINGSLEY is Chairman of The Oracle Partnership. https://oraclepartnership.com/ |
The finance, pensions and insurance sectors have long relied on data and mathematical models to justify decisions, many backed by the authority of actuarial practice. Everything from projecting life expectancy to aligning long-term pension obligations and capital allocation decisions are measured, creating a shared set of norms. Risk is traded. Value exchanged.
Disclaimer:
This article represents the opinion of the author, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 25 – March 2021
‘How to priortise vaccination’
How to prioritise vaccination
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Remarkably, mankind has developed a range of vaccines in little more than 12 months since the identification of the novel coronavirus in late 2019. The big issue as we enter 2021 is how should those vaccines most responsibly be rolled out? Stuart McDonald, Yifei Gong and John Roberts, three actuaries working on demographic and epidemiological data, have been to the fore of analysis of the benefits of the strategic distribution of early vaccines to the most vulnerable categories of the population. We set out here a summary of their recent work.
Disclaimer:
This article does not necessarily represent the opinion of the AAE.
This article was published in The European Actuary No. 25 – March 2021
‘Are corona decisions driven by data or by politics?’
Good policy starts with good data
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MAURICE DE HOND has a background in market research and runs his own polling agency View/Ture. He started publishing blogs and scientific publications on corona on his website Maurice.nl in March 2020. |
The Dutch handling of the corona pandemic is driving Maurice de Hond crazy. According to this Dutch political pollster, medical professionals wield far too much power when it comes to curbing the virus. ‘We need to make decisions based on good data, not on the medical opinions of a small group of specialists.’
Disclaimer:
This article represents the opinion of the interviewee, and not necessarily the opinion of the AAE.
This article was published in The European Actuary No. 25 – March 2021
How to recognize the actuarial professional
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Mária Kamenárová |
We all want to receive the best service and care in all aspects of our lives as we believe we are worth it. How to define the best service is a matter of individual preference: service for the best price, the best time (as time is money), or the best value for money, usually linked with professional care?
Continue reading “How to recognize the actuarial professional”
European Actuarial Days 2021: Call for Papers
On 2 & 3 June 2021, the Actuarial Association of Europe (AAE) will host the first European Actuarial Days 2021 (EAD 2021) as an online-only conference to offer a unique CPD event for all interested actuaries.
The AAE invites all experts to discuss the current professional challenges and opportunities arising from new areas of activity of the profession as well as from traditional work areas. The conference will put a special focus on the environment actuaries work and operate in and the fast development of this surrounding in the recent past and expectations for the future.
The EAD 2021 Program Committee welcomes abstracts until 31 March 2021. Please support us and share the Call for Papers with the members of your association and in your communities.