The P&C Actuary's Role in Solvency Monitoring - Property and ...

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PACICC – The P&C Actuary’s Role in Solvency Monitoring Page 46 Office of the Superintendent of Financial Institutions of Canada. Minimum Capital Test (MCT) for Federally Regulated Property and Casualty Insurance Companies, Guideline A. March 2008. Office of the Superintendent of Financial Institutions of Canada. Sound Reinsurance Practices and Procedures, Guideline B-3. Draft Guideline August 2010. Office of the Superintendent of Financial Institutions of Canada. Stress Testing, Guideline E-18. December 2009. Quebec Law. An Act Respecting Insurance. January 1, 2010. Robert M. Astley, Allan U. Brender, Christopher D. Chapman, Marc Fernet, Michael B. McGuinness, Robert T. Smith, Hugh G. White, Brian Wooding, J. Dickson Crawford, Chairman. Report of the Task Force on the Future of the Canadian Institute of Actuaries in the North American Context. December 1989. Robert M. Hammond. “Insurance Regulation in Canada and the Role of the Casualty Actuary.” PCAS, LXX, pages 289-296. November 1983.
PACICC – The P&C Actuary’s Role in Solvency Monitoring Page 47 APPENDIX B – CIA GUIDING PRINCIPLES 1. 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 members. 2. To ensure that services are provided by qualified individuals, the Institute maintains publicly visible programs and procedures for the attainment and maintenance of professional qualification by its members. 3. The Institute develops standards of professional practice and rules of professional conduct and, through its disciplinary process, ensures their compliance by its members. 4. The Institute promotes the development of a body of expert actuarial knowledge and practice relevant to Canadian social and economic needs. It encourages actuarial research and scholarly activity and the dissemination of the results among its members. It encourages the application of actuarial science and technique to new areas where these are relevant. 5. The Institute cooperates with governments and public bodies and makes timely and relevant contributions to public policy issues. 6. To assure a continuing supply of qualified professionals, the Institute encourages the recruitment and training of new actuaries. 7. The Institute serves the professional needs of all Canadian actuaries regardless of area of practice, language, or geographic region. 8. To assist its members in their professional activities, the Institute develops technical support including collection and analysis of statistical data, and the publication of actuarial handbooks and texts. 9. The Institute represents Canadian actuaries internationally and cooperates with other national actuarial bodies in areas of mutual interest. 10. The Institute provides opportunities for the professional development of its members.
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