How to Eat an Elephant – on the insurability of a pandemic

8 November 2021

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

Desmond Tutu once wisely said that “there is only one way to eat an elephant: a bite at a time.” What he meant by this is that everything in life that seems daunting, overwhelming, and even impossible can be accomplished gradually by taking on just a little at a time.

The consequences of the current Covid-19 pandemic are huge and they dwarf most elephants. The number of human tragedies is immense although insurers seem to get along with the consequences in life and death. A different issue is business interruption where most existing policies do not cover the losses. A good question is whether it would be possible to extend business interruption cover in such a way that also situations like this would be covered.

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Recipe for success

10 June 2021

Monique Schuilenburg AAE Operations Manager

A different angle sometimes helps to put everything in perspective. Let me give you a look behind the scenes. I am taking the recently held EAD2021 as a reference, but frankly this is a blueprint for most of the AAE events regardless of the scale.

Preparation is key for everything we do and even more so for an event like EAD. As spectator or participant you may not be aware of the amount of work that needs to be done.

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Did you register for EAD 2021 yet? If not, now is the time to do so!

10 May 2021

Inga Helmane Member AAE Communications WG and AAE Board member

On 2 and 3 June 2021, the Actuarial Association of Europe in cooperation with the European Actuarial Academy will hold the first European Actuarial Days (EAD).

With the next European Congress of Actuaries postponed until 2022 due to the ongoing corona pandemic, the AAE has decided to host the European Actuarial Days in order to offer a unique CPD possibility to all European actuaries in 2021 as well as a possibility for knowledge transfer and networking.

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We need your help to find the AAE’s slogan!

20 April 2021

Gunn Albertsen Chairperson AAE Communications WG and AAE Board member

The Board of the Actuarial Association of Europe (AAE) invites all members of AAE Member Associations to suggest a new and permanent slogan for AAE. The proposed slogan should express the vision of the AAE for actuaries throughout Europe to be recognised as the leading quantitative professional advisers in financial services, risk management and social protection, contributing to the well-being of society, and for European institutions to recognise the valuable role that the AAE plays as a leading source of advice on actuarial and related issues.

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Solvency II review proposal for long term valuation: Significant risk to destroy values!

16 March 2021

Wilhelm Schneemeier Chairperson AAE

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.

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