SA3 Topical Issues

Discussion in 'SA3' started by Coralie Clarke, Dec 19, 2008.

  1. It is important that Subject SA3 students take the opportunity to keep abreast of current developments in general insurance. Many past exam questions and Examiners' Reports have mentioned topical issues that are not covered explicitly by the Course Notes alone.

    However, general insurance students are lucky because there are some excellent sources of readily-available information on topical issues. The sources of this information are described in the Course Notes, in Chapter 17. Another good starting point is the resources list for Subject SA3 on the Institute and Faculty's website:

    https://www.actuaries.org.uk/studyi...rance/resources-subject-sa3-general-insurance

    The purpose of this thread is for Subject SA3 students to discuss topical issues on General Insurance. Feel free to add your own comments about topical issues.
     
    Last edited by a moderator: Mar 2, 2022
    Sattamatka likes this.
  2. Leela

    Leela Member

    Which giro for oct 2012???

    Just wondered which giro would have been the last giro when the last paper was set? Also would the oct paper have been set when the April one was?
     
    Sattamatka likes this.
  3. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    The examiners set the questions for both April and October Year X exams, in the period September Year X-1 to January Year X (give or take a month or two). GIRO is generally in September/October each year.
     
    Sattamatka likes this.
  4. Shillington

    Shillington Member

    I was expecting a list of topical issues which I could scan through. This isn't the case.

    Issues I can think of are...

    PPOs
    Solvency II
    Asbestos / Latent claims
    Reserving risk methods
    Risk aggregation methodologies

    I'm sure that there will be plenty more from other backgrounds (especially pricing!). Does anyone else want to contribute to the above list / challenge anything of the items I've included? It would be good to turn this into a mini topical-issues resource with a brief description of the issue along with how it fits into GI actuarial work.
     
    Sattamatka likes this.
  5. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    Good idea Shillington, that's what this thread was meant to do, but students' contributions to it have been a bit thin on the ground, to say the least!

    From your list, I'd challenge 'asbestos'. This is now deemed 'old news', so much in fact that it (APH) is going to be removed from the 2016 Core Reading. However, latent claims more generally definitively remains. Perhaps students could research more 'current' latent claims, eg mobile phone radiation, industrial deafness etc...
     
    Sattamatka likes this.
  6. Sivapriya K

    Sivapriya K Member

    Can we include "Pricing risk" on new products using new technologies?
     
    Sattamatka likes this.
  7. Katherine Young

    Katherine Young ActEd Tutor Staff Member

    That would make my list Sivapriya yes. Some hot topics right now might be:
    • PPOs
    • IFRS17
    • Price walking
    • Solvency 2: Ensuring consistency between regulators / territories
    • Insuretech / big data
    • Business transfers
    • talcum powder, historical abuse claims and other emerging latent claims
    • cyber risks
    • etc etc
     
  8. salman100

    salman100 Member

    Please can you share good resources to read on these topical issues.
     
  9. Katherine Young

    Katherine Young ActEd Tutor Staff Member

    There are many resources readily available online. Have you tried searching ? Or why not use the resources described in Chapter 17.

    The IFoA working parties cover many of these topics ... PPOs, IFRS17, Solvency 2, InsureTech, driverless cars, catastrophes, ... to name just a few.

    Also don't forget other IFoA resources, have you not looked through the GIRO papers, or the papers for the CIGI seminar / Pricing seminar / Reserving seminar?

    Have you tried looking for the FCA page on pricewalking? A simple Google search would have led you straight to it. Their interim report is now available, and is well worth a read.

    Don't forget specific bodies dedicated to key topics - the IFRS17 website, PRA website, EIOPA website, RMS website etc. Start with the News pages and see where it takes you.

    Lloyd's is often great too. Try googling 'Lloyd's emerging risks' for example.
     
  10. Sattamatka

    Sattamatka Member

    Great one.
    I'm newbie in this area but I'm want to learn more and more thanks guys... See You tc
     
  11. Hi - for the list of topical issues - do you think pandemic related challenges for business/ pricing /reserving will be included ?
     
  12. Darren Michaels

    Darren Michaels ActEd Tutor Staff Member

    I would definitely include it on your list yes.
     
  13. which sources of reading would you recommend on this topic? specifically on impact on reserving
     
  14. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    I don't have any specific reading - although I vaguely recall maybe reading something in The Actuary? I might be wrong. Failing that, just use your favorite search engine and see what comes up. Better still, just think through the potential implications yourself, or find similar past questions - maybe those covering (other) latent claims could be a starting point.
     
  15. Thanks Ian. Two more questions
    1. For the past papers - Is there a list of questions by topics?
    2. Is there a mind map for SA3 material ?
     
  16. Ian Senator

    Ian Senator ActEd Tutor Staff Member

    Not freely available I'm afraid. There's a short list of past papers in ASET, and we go through a bigger list and something similar to a mindmap exercise in tutorials if you're able to attend those.
     
  17. indexo

    indexo Member

    HI all,

    Any updated topical issues list that we should be aware of for this-next year?
    Thanks!
     
  18. CapitalActuary

    CapitalActuary Ton up Member

    Climate change!!! and somewhat related but less likely to come up soon (in my opinion): biodiversity risk, are both hot topics. Although neither are new, they are attracting increasing focus and actuaries are only just beginning to flesh out ways of thinking about climate change risks.

    Climate change is far more than just cat risk - you can google physical and transition risks to get a better idea of the sorts of risk climate change will give rise to. It’s not just long term stuff.
     
  19. Euro A. Fioravanti

    Euro A. Fioravanti Made first post

    What would be topical issues to be considered for the Sept 2023 Exam? This is what I've seen in the news but would appreciate any additional insights:
    * Property catastrophe (Increase in rates, hardening of conditions and reduced capacity)
    * Cyber crime war exclusion wording
    * Climate change
     
    StartedThinking and Busy_Bee4422 like this.

Share This Page