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 general insurance area of the Institute and Faculty's website:

    http://www.actuaries.org.uk/practice_areas/general_insurance/documents/giro_conventions

    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: Jan 24, 2011
  2. Leela

    Leela Keen 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?
     
  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.
     
  4. Shillington

    Shillington Very Active 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.
     
  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...
     
  6. Sivapriya K

    Sivapriya K Made first post

    Can we include "Pricing risk" on new products using new technologies?
     
  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
     

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