AAE News

AAE publishes discussion paper “Environmental Liability Directive – Financial Security and the Polluter Pays Principle”

27 September 2022

Today the AAE issued a press release with respect to the publication of the AAE discussion paper “Environmental Liability Directive – Financial Security and the Polluter Pays Principle”.

 

The press release is available here.

 

Please also read the blog ‘Shit happens!’ by Esko Kivisaari.

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Shit happens!

Esko Kivisaari
Past Chairperson AAE
Chairperson AAE Advisory Panel
Chairperson AAE Artifical Intelligence/Data Science Working Group

 

All economic activity can result into damage to the environment. Some activities are riskier than others. When shit happens, when damage occurs remedial actions are necessary. Such actions are more or less costly depending on the damage.

 

The European Union has adopted in 2004 the Environment Liability Directive (ELD), the purpose of which is to implement the ‘polluter pays’ principle, i.e., the one who has caused the damage also pays for the remedial action. There are now plans to renew the ELD. One of the difficulties of implementing the ‘polluter pays’ principle is that the actor responsible for the liability might no longer exist when the damage is found out.

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Prof. Ermanno Pitacco passed away

26 September 2022

 

Today the sad news reached us that Prof. Ermanno Pitacco passed away.

For many, many years he was an active member and well respected colleague in the AAE Education Committee. His contribution to the development of the actuarial profession not only in Italy but also in Europe was significant. We will always remember his open-minded kindness.

Our hearts go out to his family and friends and we wish them all the best in dealing with this tremendous loss.

 

26 September 2022

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What if insurance could go beyond protection and also play a key role in the prevention of risks?

22 September 2022

Wearables

By Mark Farrell

Dr Mark Farrell FIA is CEO of ProActuary and a Senior Lecturer in Actuarial Science at Queen’s University Belfast.
 

 

The goal of insurance, from the consumer’s point of view, is to protect us when things go badly wrong. If we get sick, die unexpectedly or if we get into a car accident then insurance comes to the rescue via a contingent payment made from the pooled policyholder premiums. But what if insurance could go beyond protection and also play a key role in the prevention of risks?

 

Read the full article here.

 

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. 31 – September 2022

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New prospects for actuaries

19 September 2022

By Gunn Albertsen and Giampaolo Crenca

Gunn Albertsen
AAE Board member
Giampaolo Crenca
AAE Board member
 

 

On 2 and 3 June 2022, the Actuarial Association of Europe (AAE) and the Instituto de Actuarios Españoles held the 4th European Congress of Actuaries (ECA 2022) in Madrid, Spain.

In total, around 250 experts and executives from Europe and beyond participated in the congress, organized by the European Actuarial Academy. Following two years of remote working due to the coronavirus pandemic, the ECA was an excellent opportunity for many people in the European community of actuaries to meet with their peers. We were delighted to welcome around 250 participants – a good number considering that this was the first in-person, post-Covid AAE event.

 

Read the full article here.

 

Disclaimer:

This article was published in The European Actuary No. 31 – September 2022

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