Skit on Predictive Modeling. Committee on Professionalism Education. Agenda. Professional Guidance Skit Small Group Discussion Large Group Discussion Takeaways. Professional Guidance.
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Committee on Professionalism Education
Small Group Discussion
Large Group Discussion
Precept 1 of the Code of Conduct: “An Actuary shall act honestly, with integrity and competence, and in a manner to fulfill the profession's responsibility to the public and to uphold the reputation of the actuarial profession.”
Precept 10 of the Code of Conduct: “An Actuary shall perform Actuarial Services with courtesy and professional respect and shall cooperate with others in the Principal's interest.”
Principle 3 of the Statement of Principles Regarding Property and Casualty Insurance Ratemaking: “A rate provides for the costs associated with an individual risk transfer.”
Statement of Principles Regarding Risk Classification:
A risk classification program should protect the insurer’s financial soundness.
A risk classification system should be acceptable to the public.
How could this Principle guide the actuaries in this situation?
The views expressed by the panelists are their own and may not necessarily reflect those of their respective employers.
Is OTA justified in making a business decision and ignoring the GLM results?
Does anything in the ASOPs even require OTA to consider the GLM results?
What are NF's obligations?