CASUALTY ACTUARIAL SOCIETY COURSE ON PROFESSIONALISM Canadian Panel Presentation

CASUALTY ACTUARIAL SOCIETYCASUALTY ACTUARIAL SOCIETYCOURSE ON PROFESSIONALISMCOURSE ON PROFESSIONALISM

Canadian Panel PresentationCanadian Panel Presentation

Panel Discussion TopicsPanel Discussion Topics

Professional Actuarial OrganizationsProfessional Actuarial Organizations Purpose of CIA, CAS, and AAAPurpose of CIA, CAS, and AAA Roles of Professional Actuarial OrganizationsRoles of Professional Actuarial Organizations Roles of CIA, CAS, and AAARoles of CIA, CAS, and AAA Standards for Acceptable Behavior (CIA Rules of Professional Conduct)Standards for Acceptable Behavior (CIA Rules of Professional Conduct) Standards for Acceptable Work Products (ASB Video)Standards for Acceptable Work Products (ASB Video) Qualification Standards (FCIA and PSAO)Qualification Standards (FCIA and PSAO) Counseling and Compliance (ABCD Video)Counseling and Compliance (ABCD Video)

Professional Actuarial OrganizationsProfessional Actuarial Organizations

Canadian Institute of Actuaries (CIA)Canadian Institute of Actuaries (CIA) Casualty Actuarial Society (CAS)Casualty Actuarial Society (CAS) American Academy of Actuaries (AAA)American Academy of Actuaries (AAA)

Actuarial Standards Board (ASB)Actuarial Standards Board (ASB) Actuarial Board for Counseling & Discipline (ABCD)Actuarial Board for Counseling & Discipline (ABCD)

Other Professional Actuarial OrganizationsOther Professional Actuarial Organizations

Society of Actuaries (SOA)Society of Actuaries (SOA)Life, health, benefits and pensionsLife, health, benefits and pensions

American Society of Pension Actuaries (ASPA)American Society of Pension Actuaries (ASPA)Conference of Consulting Actuaries (CCA)Conference of Consulting Actuaries (CCA)

Consultants in all practice areasConsultants in all practice areas

International Institute of Actuaries (IIA)International Institute of Actuaries (IIA)Actuarial Studies in Non-Life Insurance (ASTIN)Actuarial Studies in Non-Life Insurance (ASTIN)Actuarial Approach for Financial Risks (AFIR)Actuarial Approach for Financial Risks (AFIR)

Professional Actuarial OrganizationsProfessional Actuarial OrganizationsWithin the Casualty Actuarial SocietyWithin the Casualty Actuarial Society

Actuaries in Regulation (AIR)Actuaries in Regulation (AIR) Casualty Actuaries in Reinsurance (CARE)Casualty Actuaries in Reinsurance (CARE) Regional Affiliates of the CASRegional Affiliates of the CAS

Regional Affiliates of the CASRegional Affiliates of the CAS

CIA Membership StatisticsCIA Membership Statistics

SCHEDULE OF MEMBERSHIPSCHEDULE OF MEMBERSHIP EFFECTIFEFFECTIF

Particulars/Details Fellows Students/Etudiants Correspondents June 2002 / Juin 2002 2499 1013 36 Enrollments / Nouvelles adhesions 26 84 1 Tranfers / Transferts 83 -84 1 Reinstatements / Retablissements 4 1 0 Terminations / Cessations -10 -14 -1 Resignations / Demissions -6 -1 -2 Deaths / Deces -6 -1 0 June 2003 / Juin 2003 2590 981 35

CAS Membership StatisticsCAS Membership Statistics

Fellows Associates Affiliates Type of Employment Nov.

1983 Nov. 1993

Nov. 2003

Nov. 1983

Nov. 1993

Nov. 2003

Nov. 2003

Insurance Company: Property-Liability Life and A.& H. Reinsurance* Organizations Serving Insurance Business** Consultants Government Academic Brokers and Agents* Other Retired

361

11 --

37 92 13

4 --

40 46

581

12 109

51 295

19 4

14 28 98

1,104

15 357

64 412

41 7

64 341

98

251

16 --

35 43 17

7 --

44 36

452

13 62

41 160

32 6

22 32 52

576

24 131

42 205

37 5

49 197

52

9 -- 6

-- 8 -- -- 1 2 --

TOTAL 604 1,211 2,503 449 872 1,318 26 *Category created in 1989 **Formerly Bureaus and Associations

CAS Volunteer ParticipationCAS Volunteer Participation

27% of members volunteer for the CAS, 27% of members volunteer for the CAS, and this figure includes: Executive and this figure includes: Executive Council and Board members, paper Council and Board members, paper authors, Regional Affiliates, speaking at authors, Regional Affiliates, speaking at a meeting or seminar, or serving on a a meeting or seminar, or serving on a committeecommittee

24% of members support our 24% of members support our committeescommittees

There are approximately 914 committee There are approximately 914 committee positions currently filled by CAS positions currently filled by CAS membersmembers

368 volunteer for different Admissions 368 volunteer for different Admissions Committee positionsCommittee positions

88% of our Presidents have served on 88% of our Presidents have served on the Examination Committeethe Examination Committee

The Casualty Actuarial Society relies heavily The Casualty Actuarial Society relies heavily on the volunteer support of its members to on the volunteer support of its members to

conduct the business of the Society.conduct the business of the Society.

CIA Statement of PurposeCIA Statement of Purpose

• The CIA is the national organization of the actuarial The CIA is the national organization of the actuarial profession in Canada.profession in Canada.

• The institute is dedicated to serving the public The institute is dedicated to serving the public through the provision by the profession of actuarial through the provision by the profession of actuarial services and advice of the highest quality.services and advice of the highest quality.

CIA Statement of PurposeCIA Statement of Purpose(Cont’d)(Cont’d)

• The Institute promotes the advancement of actuarial The Institute promotes the advancement of actuarial science and sponsors programs for the education and science and sponsors programs for the education and qualification of members and prospective members.qualification of members and prospective members.

• The institute maintains programs to ensure that The institute maintains programs to ensure that actuarial services provided by its members meet actuarial services provided by its members meet accepted professional standards.accepted professional standards.

CIA Statement of PurposeCIA Statement of Purpose(Cont’d)(Cont’d)

• The Institute also provides services to actuaries in The Institute also provides services to actuaries in Canada to assist them in the discharge of their Canada to assist them in the discharge of their professional responsibilities.professional responsibilities.

• Includes all specialties of Canadian actuaries.Includes all specialties of Canadian actuaries.

CAS PurposeCAS Purpose

To advance the body of To advance the body of knowledgeknowledge of actuarial science in of actuarial science in applications other than life insurance,applications other than life insurance,

To establish and maintain To establish and maintain standards of qualification standards of qualification for for membership,membership,

To promote and maintain high To promote and maintain high standards of conduct and standards of conduct and competence competence for the members, andfor the members, and

To increase the To increase the awarenessawareness of actuarial science.” of actuarial science.”

Source: CAS ConstitutionSource: CAS Constitution

AAA PurposeAAA Purpose

The Academy is a professional membership, government The Academy is a professional membership, government information, and public relations organization for information, and public relations organization for all actuaries all actuaries practicing in the United Statespracticing in the United States, regardless of specialty., regardless of specialty.

The Academy establishes The Academy establishes qualification standardsqualification standards for making for making public statements of actuarial opinion.public statements of actuarial opinion.

Source: 1993 Directory of Actuarial Memberships (Published by the AAA)Source: 1993 Directory of Actuarial Memberships (Published by the AAA)

Roles of Professional Actuarial Roles of Professional Actuarial OrganizationsOrganizations

Set standards for acceptable behaviorSet standards for acceptable behavior Agree on principlesAgree on principles Define acceptable work products (Standards of Practice)Define acceptable work products (Standards of Practice) Set membership standardsSet membership standards Set qualification standards for PSAO counselSet qualification standards for PSAO counsel Ensure complianceEnsure compliance Promote researchPromote research Interface with publicInterface with public

Statements of Principles vs.Statements of Principles vs.Standards of PracticeStandards of Practice

Statement of Principle:Statement of Principle: A general or fundamental rule or truth on which others A general or fundamental rule or truth on which others

are based.are based. PrinciplesPrinciples are expected to be relatively constant.are expected to be relatively constant.

Standard of Practice:Standard of Practice: Define the generally accepted actuarial practices.Define the generally accepted actuarial practices. StandardsStandards are expected to change over time in order to are expected to change over time in order to

remain current.remain current.

Actuarial Standards BoardActuarial Standards Board

Direct and manageDirect and manage the development of the development of actuarial standards of actuarial standards of practicepractice by its operating committees in all areas of actuarial by its operating committees in all areas of actuarial practice.practice.

Expose and promulgateExpose and promulgate actuarial standards of practiceactuarial standards of practice within its within its sole discretion and pursuant to such procedures it deems sole discretion and pursuant to such procedures it deems appropriate, in all areas of actuarial practice.appropriate, in all areas of actuarial practice.

Provide Provide continuous reviewcontinuous review of existing of existing standards of practicestandards of practice and and determine whether they are in need of amendment, alteration, determine whether they are in need of amendment, alteration, expansion, or elimination.expansion, or elimination.

The ASB’s objectives are:The ASB’s objectives are:

Relationships Between Standards Relationships Between Standards and Statementsand Statements

CASUALTYACTUARIAL

SOCIETY

STATEMENTSOF

PRINCIPLES

PROMULGATES

IS AFFILIATEDWITH

ARE USED BY

AMERICANACADEMY OFACTUARIES

ACTUARIALSTANDARDS

BOARD

STANDARDSOF

PRACTICE

HAS FORMED

PROMULGATES

What is a PSAO?What is a PSAO?

Actuarial opinion called for by law or regulationActuarial opinion called for by law or regulation Actuarial opinion called for by a Standard of Actuarial opinion called for by a Standard of

PracticePractice Actuarial communication made for purposes of Actuarial communication made for purposes of

compliance with FASB or GASB standardscompliance with FASB or GASB standards

Examples of PSAO’sExamples of PSAO’s

Loss reserve opinionsLoss reserve opinions Expert testimony at rate hearingExpert testimony at rate hearing Rate filing?Rate filing? Phone calls with regulators?Phone calls with regulators? Interviews? Speeches?Interviews? Speeches? Internal documentation?Internal documentation? Others?Others?

Roles of CIA, CAS, and Roles of CIA, CAS, and AAAAAA

ROLE CANADA UNITEDSTATES

Standards foracceptable behavior

CIA Rules ofProfessionalConduct

AAA Code ofProfessionalConduct

Principles CIA GuidingPrinciples

CAS Statementsof Principle

Definition ofacceptable work products

CIA Standardsof Practice

AAA ASBStandards ofPractice

PSAO Qualifications CIA AAA

Roles of CIA, CAS, and Roles of CIA, CAS, and AAA AAA (cont’d)(cont’d)

ROLE CANADA UNITEDSTATES

Counseling CIA PCFRC,AA

AAA ABCD

Compliance CIA CommitteeOn ProfessionalConduct

AAA ABCD

Research CIA CAS, AAAInterface withPublic

CIA AAA

CIA Rules of Professional CIA Rules of Professional ConductConduct

• Effective: June, 1992Effective: June, 1992

• Modified 11/95 to reflect Mexican entry into NAFTAModified 11/95 to reflect Mexican entry into NAFTA

•Categorized into Categorized into 20 Rules20 Rules that identify the professional and ethical standards that identify the professional and ethical standards with which a member of the CIA must comply and thereby serve public with which a member of the CIA must comply and thereby serve public interest.interest.

•Annotations provide additional explanatory, educational and advisory material Annotations provide additional explanatory, educational and advisory material on how the rules are to be interpreted and applied.on how the rules are to be interpreted and applied.

•For professional services rendered in the United States, the AAA Code of For professional services rendered in the United States, the AAA Code of Professional Conduct applies.Professional Conduct applies.

•For professional services rendered in Mexico, the code of conduct of the For professional services rendered in Mexico, the code of conduct of the Colegio Nacional de Actuarios (CONAC) applies.Colegio Nacional de Actuarios (CONAC) applies.

CIA Rules of CIA Rules of Professional Conduct Professional Conduct (cont’d)(cont’d)

• It is the professional responsibility of the CIA member to be knowledgeable It is the professional responsibility of the CIA member to be knowledgeable about, and to keep current with the revisions to the rules and annotations.about, and to keep current with the revisions to the rules and annotations.

• The Property / Casualty Financial Reporting Committee and / or the The Property / Casualty Financial Reporting Committee and / or the Committee on the Role of the Appointed Actuary is available to provide Committee on the Role of the Appointed Actuary is available to provide counseling.counseling.

•The Committee on Discipline handles any disciplinary proceedings.The Committee on Discipline handles any disciplinary proceedings.

•These CIA Committees provide equivalent roles of the AAA’s Actuarial These CIA Committees provide equivalent roles of the AAA’s Actuarial Board for Counseling and Discipline (ABCD).Board for Counseling and Discipline (ABCD).

CIA Rules of CIA Rules of Professional Conduct Professional Conduct (cont’d)(cont’d)

• CIA By-Laws state:CIA By-Laws state:

““A member or student shall comply with the by-A member or student shall comply with the by-laws, rules of professional conduct and standards of laws, rules of professional conduct and standards of practice including recommendations on the Institute as practice including recommendations on the Institute as they may be from time to time and with any order or they may be from time to time and with any order or resolution of the Council or officers of the Institute resolution of the Council or officers of the Institute under the by-laws.”under the by-laws.”

Professional IntegrityProfessional Integrity

RULE 1:RULE 1:A member shall act honestly and in a manner to uphold the A member shall act honestly and in a manner to uphold the reputation of the actuarial profession and to fulfill the profession’s reputation of the actuarial profession and to fulfill the profession’s responsibility to the public.responsibility to the public.

RULE 2:RULE 2:A member shall perform professional services with integrity, skill, A member shall perform professional services with integrity, skill, and care.and care.

Qualification StandardsQualification Standards

RULE 3:RULE 3: A member shall perform A member shall perform

professional services only professional services only when the member is qualified when the member is qualified to do so and meets applicable to do so and meets applicable qualification standards.qualification standards.

Standards of PracticeStandards of Practice

RULE 4:RULE 4: A member shall ensure that A member shall ensure that

professional services professional services performed by or under the performed by or under the direction of the member meet direction of the member meet applicable standards of applicable standards of practicepractice

DisclosureDisclosure

RULE 5:RULE 5: A member shall make full and timely disclosure to a client or A member shall make full and timely disclosure to a client or

employer of the sources of all direct and indirect compensation employer of the sources of all direct and indirect compensation that the member or the member’s firm may receive in relation that the member or the member’s firm may receive in relation to an assignment for which the member provides professional to an assignment for which the member provides professional services to that client or employer.services to that client or employer.

Conflict of InterestConflict of Interest

RULE 6:RULE 6: A member shall not perform professional services involving a A member shall not perform professional services involving a

conflict of interest unless:conflict of interest unless:

the member’s ability to act fairly is unimpaired, andthe member’s ability to act fairly is unimpaired, and there has been full disclosure of the conflict to all known direct users, there has been full disclosure of the conflict to all known direct users,

andand all known direct users have expressly agreed to the performance of the all known direct users have expressly agreed to the performance of the

services by the member.services by the member.

Control of Work ProductControl of Work Product

RULE 7:RULE 7: A member shall not A member shall not

perform professional perform professional services when the member services when the member has reason to believe that has reason to believe that they may be used to they may be used to mislead or to violate or mislead or to violate or evade the law.evade the law.

ConfidentialityConfidentiality

RULE 8:RULE 8: Except as required under Rule 13, a member shall not Except as required under Rule 13, a member shall not

disclose to another party any confidential information disclose to another party any confidential information obtained through a professional assignment performed for obtained through a professional assignment performed for a client or employer unless authorized to do so by the a client or employer unless authorized to do so by the client or employer or required to do so by law.client or employer or required to do so by law.

Courtesy and CooperationCourtesy and Cooperation


professional services with professional services with courtesy and shall avoid courtesy and shall avoid unjustifiable or improper unjustifiable or improper criticism of other members, criticism of other members, and shall cooperate with and shall cooperate with others in the client’s or others in the client’s or employer’s interest.employer’s interest.

AdvertisingAdvertising

RULE 10:RULE 10: A member shall not engage in any A member shall not engage in any

advertising or business solicitation advertising or business solicitation activities in respect of professional activities in respect of professional services that the member knows or services that the member knows or should know are false or misleading, should know are false or misleading, or that reflects unfavourably on the or that reflects unfavourably on the profession or the competence or profession or the competence or integrity of any member thereof.integrity of any member thereof.

Titles and DesignationsTitles and Designations

RULE 11:RULE 11: A member shall make use of A member shall make use of

membership titles and designations of membership titles and designations of the Institute only where that use the Institute only where that use conforms to the practices authorized conforms to the practices authorized by the Institute.by the Institute.

Collateral ObligationsCollateral Obligations

RULE 12:RULE 12: A member shall be subject to the Institute’s disciplinary procedures if the member A member shall be subject to the Institute’s disciplinary procedures if the member

is convicted or found guilty of or pleads guilty to any criminal or similar offense.is convicted or found guilty of or pleads guilty to any criminal or similar offense.

RULE 13:RULE 13: A member shall comply with the procedures prescribed by Council if the member A member shall comply with the procedures prescribed by Council if the member

becomes aware of any apparent material noncompliance by another member with becomes aware of any apparent material noncompliance by another member with the rules of professional conduct or with the standards of practice.the rules of professional conduct or with the standards of practice.

RULE 14:RULE 14: A member or the member’s representative shall respond promptly in writing to any A member or the member’s representative shall respond promptly in writing to any

letter received from a person duly authorized by the Institute to obtain information letter received from a person duly authorized by the Institute to obtain information or assistance regarding any metter arising under Section 20 of the bylaws or assistance regarding any metter arising under Section 20 of the bylaws (Discipline of Members and Students).(Discipline of Members and Students).

ReportingReporting

RULE 15:RULE 15: A member shall include, where appropriate, in any report or certificate a statement A member shall include, where appropriate, in any report or certificate a statement

or reference describing or identifying the data and the actuarial methods and or reference describing or identifying the data and the actuarial methods and assumptions employed.assumptions employed.

RULE 16:RULE 16: A member shall indicate clearly in giving the member’s opinions or findings that A member shall indicate clearly in giving the member’s opinions or findings that

the member is the source of the opinions or findings and shall be available to the member is the source of the opinions or findings and shall be available to provide supplementary advice and explanation as required.provide supplementary advice and explanation as required.

Reporting Reporting (cont’d)(cont’d)

RULE 17:RULE 17: A member shall ensure that any calculations or recommendations made by the A member shall ensure that any calculations or recommendations made by the

member or under the member’s direction are, wherever possible, based on member or under the member’s direction are, wherever possible, based on sufficient and reliable data and that any assumptions made are adequate and sufficient and reliable data and that any assumptions made are adequate and appropriate, and, subject to Rule 18, that the methods are consistent with the appropriate, and, subject to Rule 18, that the methods are consistent with the principles established by precedent or common usage within the profession.principles established by precedent or common usage within the profession.

RULE 18:RULE 18: A member shall, where requested by a client or employer to prepare a study that, in A member shall, where requested by a client or employer to prepare a study that, in

the opinion of the member, deviates from the principles established by precedent or the opinion of the member, deviates from the principles established by precedent or common usage within the profession, or is based on insufficient or unreliable data, common usage within the profession, or is based on insufficient or unreliable data, include in any resulting report, communication or certificate an explicit include in any resulting report, communication or certificate an explicit qualification of the member’s findings..qualification of the member’s findings..

Foreign PracticeForeign Practice

RULE 19:RULE 19: A member who is practicing outside A member who is practicing outside

Canada in a country or jurisdiction in Canada in a country or jurisdiction in which the profession is organized which the profession is organized under an actuarial body, of which the under an actuarial body, of which the said member is also a member, may, said member is also a member, may, provided the Council of the Institute provided the Council of the Institute has agreed, practice free from the has agreed, practice free from the requirements of Rules of Professional requirements of Rules of Professional Conduct 15 and 16.Conduct 15 and 16.

ObjectivityObjectivity

RULE 20:RULE 20: A member performing services for the purpose of making a report A member performing services for the purpose of making a report

required by law with respect torequired by law with respect to1 a pension plan; ora pension plan; or2 an employee benefit plan; oran employee benefit plan; or3 an insurance company; oran insurance company; or

required for accounting purposes,required for accounting purposes,

shall perform the services without regard to any personal shall perform the services without regard to any personal considerations or to any influence, interest or relationship in respect of considerations or to any influence, interest or relationship in respect of the affairs of the affairs of the member’s client or employer that might impair the the member’s client or employer that might impair the member’s professional member’s professional judgement or objectivity.judgement or objectivity.

CIA Rules of CIA Rules of Professional ConductProfessional Conduct

The Rules of Professional The Rules of Professional Conduct articulate that Conduct articulate that procedures prescribed by procedures prescribed by Council must be followed Council must be followed when the member is aware when the member is aware of a violation of these rules.of a violation of these rules.

CIA Guiding PrinciplesCIA Guiding Principles

In carrying on its activities and programs, the Institute holds the duty In carrying on its activities and programs, the Institute holds the duty of the profession to the public above the needs of the profession and its of the profession to the public above the needs of the profession and its members.members.

To ensure that services are provided by qualified individuals, the To ensure that services are provided by qualified individuals, the Institute maintains publicly visible programs and procedures for the Institute maintains publicly visible programs and procedures for the attainment and maintenance of professional qualifications by its attainment and maintenance of professional qualifications by its members.members.

The Institute develops standards of professional practice and codes of The Institute develops standards of professional practice and codes of conduct and, through its disciplinary process, ensures their compliance conduct and, through its disciplinary process, ensures their compliance by its members.by its members.

CIA Guiding Principles CIA Guiding Principles (cont’d)(cont’d)

The Institute promotes the development of a body of expert The Institute promotes the development of a body of expert actuarial knowledge and practice relevant to Canadian social actuarial knowledge and practice relevant to Canadian social and economic needs. It encourages actuarial research and and economic needs. It encourages actuarial research and scholarly activity and the dissemination of the results among scholarly activity and the dissemination of the results among its members. It encourages the application of actuarial its members. It encourages the application of actuarial science and technique to new areas where these are relevant.science and technique to new areas where these are relevant.


The Institute cooperates with governments and public bodies The Institute cooperates with governments and public bodies and makes timely and relevant contributions to public policy and makes timely and relevant contributions to public policy issues.issues.

To assure a continuing supply of qualified professionals, the To assure a continuing supply of qualified professionals, the Institute encourages the recruitment and training of new Institute encourages the recruitment and training of new actuaries.actuaries.

The Institute serves the professional needs of all Canadian The Institute serves the professional needs of all Canadian actuaries regardless of area of practice, language, or actuaries regardless of area of practice, language, or geographic region.geographic region.


To assist its members in their professional activities, the To assist its members in their professional activities, the Institute develops technical support including collection and Institute develops technical support including collection and analysis of statistical data, and the publication of actuarial analysis of statistical data, and the publication of actuarial handbooks and texts.handbooks and texts.

The Institute represents Canadian actuaries internationally The Institute represents Canadian actuaries internationally and cooperates with other national actuarial bodies in areas and cooperates with other national actuarial bodies in areas of mutual interest.of mutual interest.

The Institute provides opportunities for the professional The Institute provides opportunities for the professional development of its members.development of its members.



All CriteriaAll Criteria must be met before an Actuary is qualified to make must be met before an Actuary is qualified to make statements in publicstatements in public

STANDARD CIA AAA

Basic Education e.g. FCAS(certification)CIA PEC & PO(education)

e.g. ACAS

Experience 3 years actuarial,1-1/2 years recentCanadian



professional services only professional services only when the member is qualified when the member is qualified to do so and meets applicable to do so and meets applicable qualification standards.qualification standards.

Qualification Standards forPublic Statements of Actuarial Opinion

PurposePurposeTo codify the requirements for training, experience To codify the requirements for training, experience

and continuing education for actuaries who issue and continuing education for actuaries who issue PSAO’sPSAO’s

PSAO Qualification StandardsPSAO Qualification Standards

REQUIREMENT CANADA UNITEDSTATES

Basic Education FCIA e.g. ACASExperience FCIA YesContinuing ProfessionalDevelopment

Yes Yes

Specific N/A/ AdditionalStandards forcertain specificPSAO’s

Continuing Education RequirementsContinuing Education Requirements

RequirementsRequirements Average of 12 credit hours per calendar yearAverage of 12 credit hours per calendar year Two calendar year retrospective test - you qualify for 2004 during Two calendar year retrospective test - you qualify for 2004 during

2002 and 2003.2002 and 2003. Carry forwards are allowedCarry forwards are allowed

Maximum of 12 hours of “organized activities”Maximum of 12 hours of “organized activities” Maximum of 6 hours of “other activities”Maximum of 6 hours of “other activities”

No more than half of the credit hours may be obtained through “other No more than half of the credit hours may be obtained through “other activities”activities”

Documentation is required, and is to be maintained by the Documentation is required, and is to be maintained by the individualindividual

Qualification Standards for PSAO’sQualification Standards for PSAO’s

AAA Specific Qualification StandardsAAA Specific Qualification Standards Apply to certain Apply to certain specificspecific PSAO’s PSAO’s Very limited in numberVery limited in number

Statement of Opinion, NAIC Fire and Casualty Annual Statement of Opinion, NAIC Fire and Casualty Annual StatementStatement

General Qualification Standards must be met General Qualification Standards must be met PLUSPLUS the the Specific Qualification Standards must be met.Specific Qualification Standards must be met.

Documents

CASUALTY ACTUARIAL SOCIETY COURSE ON PROFESSIONALISM Canadian Panel Presentation