AAE Blogs

Shit happens!

27 September 2022

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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Make sure to block your calendar for the AAE sessions at CONVENTION A!

12 July 2022

Inga Helmane, AAE Board member

Connecting Knowledge! A great theme for CONVENTION A and certainly in line with the AAE’s strategic objectives.

AAE is proud to be hosting two session slots at Convention A. The theme is appealing and reflects all aspects of the AAE’s strategic objectives.

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The ECA tradition goes on: European actuaries meet in less than two weeks

23 May 2022

Maria Kamenarova,
Chairperson AAE

Wilhelm Schneemeier,
Chairperson ECA Steering Committee

 

With a one-year delay – due to the global Corona pandemic, of course – the upcoming fourth edition of the European Congress of Actuaries on June 2 and 3 in Madrid, Spain, will finally offer again the opportunity to watch exciting presentations from in front of the stage, to discuss face-to-face hot topics with the speakers and the audience, as well as to network with colleagues from all over Europe and beyond.

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How to retire with dignity

22 March 2022

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

 

A colleague of mine stayed some years ago for some time in a developing country. His wife worked in a telecommunications firm so this colleague had time to continue his studies. He also spent some time consulting the local insurance association.

 

One of the successful programs was called ‘How to retire with dignity’. The target group consisted of army officers, policemen, prison guards and so on. The idea was to convert corrupted money into an insurance policy so that the dirty origin became hidden. And it was also good risk management, anticipating a possible regime change and making the money inaccessible for new rulers.

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Sustainability and Climate Change: Main positions of the AAE

7 February 2022

Frank Schiller
Chairperson AAE Sustainability and Climate-related Risks Working Group
Vice-chairperson AAE Risk Management Committee

 

The current Assessment Report 6 of the IPCC is quite clear: “Emissions of greenhouse gases from human activities are responsible for approximately 1.1°C of warming since 1850-1900” and “many of the changes observed in the climate are unprecedented in thousands […] of years.” Warming beyond 1.5°C will increase physical consequences significantly. At approximately 2°C irreversible tipping points in the climate system will be reached. Consequently, almost all countries committed in the 2015 Paris Agreement to a 1.5°C warming target and this target has been confirmed at the COP26 in Glasgow 2021.

 

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