By Jared M. Mickall, FCIA, Chair of the Committee on Pension Plan Financial Reporting Pension plan sponsors are focusing on the safety of their people and the continuation – and, in some cases, survival – of their operations. Pension regulators across the country have implemented various measures in response to these events. Administrators and trustees of defined benefit plans are digesting the...
Mortality considerations in the time of COVID-19
By Steve Bocking, FCIA, and Marie-Andrée Boucher, FCIA, respective Vice-Chair and Chair of the Committee on Life Insurance Financial Reporting (CLIFR) The experience related to the impact of COVID-19 on insured mortality is very preliminary and is just starting to emerge. In the absence of more robust information and data, here are a few considerations related to mortality assumptions: Several...
Forecasting the future
By Steven W. Easson, FCIA, Chair of the SOA/CIA Project on Real-Time Delphi Study on Economic Variables Futures research forecasting methods In forecasting the future, for purposes such as valuations and capital projections, our typical actuarial toolkit includes items such as experience studies, historical market data, complex stochastic modelling, credibility theory, and I go could go on. Very...
Actuaries highlight need for more robust data on COVID-19 victims
This article originally appeared on the CIA COVID-19 Hub. Media release Actuaries highlight need for more robust data on COVID-19 victims Ottawa, May 11, 2020 – An important challenge presented by COVID-19 is that of information. We are faced with a critical need to better understand the nature of the virus, how it spreads, who is at risk, and which groups face higher mortality. We...
COVID-19… An Existential Crisis?
By Keith Walter, FCIAResearch Council Chair“In a few short weeks, everything has changed.” You have probably heard that statement over and over recently. Unfortunately, for many in Canada that statement is true. Businesses are struggling to survive, and some will not be able to recover. Individuals approaching retirement have lost a portion of their retirement savings...
