Insurance standard paper published
Proposals for a technical actuarial standard on insurance have been published by the Board for Actuarial Standards (BAS).
The consultation paper seeks to ensure that actuarial information provides the best support to insurance managers, governing bodies, policyholders and shareholders.
It includes the proposed range of work to be covered, how it should be presented and whether separate TASs for general and life insurance should be issued.
After completing the consultation on 20 November, BAS will issue an draft of a principles-based standard that will apply to actuarial work in insurance.
Says chairman Jim Sutcliffe: "We have issued exposure drafts of our generic standards on data, modelling and reporting.
"The insurance consultation builds on the solid foundation being laid down by the generic standards, and will help to ensure that governing bodies of insurers and others receive clear and reliable actuarial information to enable them to make informed decisions in relation to insurance."