The CIA’s International Affairs Council is proud to showcase the achievements of Micheline Dionne, FCIA, new President-Elect of the IAA, CIA Past President, and former chair of the CIA’s Committee on International Relations. As a longtime leader on the international front, Micheline has employed her expertise to aid in developing the International Standards of Practice (ISAP), discussions on...
There are many lessons that can be learned from managing an in-force business, making a seasoned in-force management professional an asset to any organization. A well-run organization will ensure that sharing insights with new business onboarding teams is crucial and will put the formal processes in place to do so.
Reserve funds are used by condominiums to manage future repair and replacement costs. Actuarial work has traditionally been associated with reserves for insurance companies – but can these techniques be applied to condo reserves as well? Jon Juffs, co-author of a new CIA research paper, and Thomas Wendling, POG member for this research project, say yes.
New research by the Canadian Institute of Actuaries reveals that low reserve fund contributions will likely lead to overwhelming annual increases and require lump-sum payments from owners to cover shortfalls, and could potentially lead to the loss of homes, especially in the context of rising interest rates.
While climate-related physical risks for this decade and the next remain largely driven by past emissions, actuaries may need to consider their impact on decisions by investors and policymakers seeking to manage transition risks through adaptation or mitigation initiatives.
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