The Actuarial Standards Board has several exposure drafts for new actuarial standards of practice and revisions to existing standards. All of these proposed changes are important for actuaries who practice in the related subject areas. The ASOPS can provide the standard of care in professional negligence cases brought against an actuary.
The ASB offers an opportunity for interested parties to comment on the draft proposed standards. The drafts with pending comment deadlines are:
ASOP No. 25 Revision (second exposure
draft)Credibility Procedures
Comment deadline: September 30, 2013
Principle-Based Reserves for Life
Products
Comment deadline: December 16, 2013
Modeling (exposure draft)
Comment deadline: September 30, 2013
Life Settlements Mortality (exposure
draft)
Comment deadline: July 31, 2013
ASOP No. 6 Revision (second exposure draft) - Measuring Retiree Group Benefits Obligations and Determining Retiree Group Benefits Program Periodic Costs or Prefunding Contributions.
Comment deadline: August 30, 2013
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.