IUA Circular 115/10
To: CEOs of Ordinary and Affiliate Members
CC: Education and Training Interest Group, Compliance Committee, Compliance Interest Group, Accounts, Taxation and Solvency Committee, Solvency II Interest Group
From: John Hobbs, Director of Market Services
Fundamentals of Actuarial Techniques in General Insurance
Subject: A copy of the syllabus and joining instructions for the 2011 programme of the IUA sponsored course Fundamentals of Actuarial Techniques in General Insurance
We are pleased to enclose the syllabus and joining instructions for the 2011 Spring and Autumn sessions of the Fundamentals of Actuarial Techniques in General Insurance programme, commencing on 2nd March and 7th September respectively.
First introduced in 2009, the course is designed to provide insurance practitioners with improved understanding of the actuarial techniques applied in general insurance and reinsurance. This is jointly driven by the increasing influence of such techniques in the underwriting and claims arenas, and recognition of the shortage of such skills amongst those that need to work more effectively with actuaries that in turn need to respond to the increasing demands on their time and expertise, particularly in the emerging Solvency 2 environment.
The course is made up of 5 modules each lasting 1 day and spaced one week apart.
The Spring 2011 programme will run on the following dates: (all Wednesdays) 2nd March, 9th March, 16th March, 23rd March and 30th March.
The Autumn 2011 programme will run on the following dates: (all Wednesdays): 7th September; 14th September; 21st September; 28th September and 5th October.
The modules will cover basic statistics (as an introduction to the concepts which will follow), the fundamentals of insurance rating, claims reserving, reinsurance rating and capital modelling. All modules are practical in nature and are specifically designed to help candidates understand how and why different actuarial techniques are used. Several of the modules will feature guest speakers, for example the module on capital modelling will include an introduction from the FSA on the regulatorâ€™s view on solvency requirements.
The cost per candidate is Â£2450, which includes refreshments, lunches and comprehensive course notes. There is also an optional Certificate of Competency, where delegates will be assessed and graded on the topics covered in the course by an independent Fellow of the Institute of Actuaries. The Certificate is a further Â£250 and IUA is in discussion with the CII regarding the possibility of credits under its examinations framework.
If you wish to register for the course you can do so online at www.matblas.com/register.php. Alternatively, if you would like to register your interest in the course please email MatÎ²las. Each programme is limited to 10 places which will be allocated on a first come-first served basis.
If you have any queries regarding this Circular please contact Patrick Davison by email at firstname.lastname@example.org or by telephone on 020 7617 4459 or the undersigned by email at email@example.com or by telephone on 020 7617 4445.
Director of Market Services.
15 November 2010