Actuaries paper says Boards need to monitor executive behaviour to avoid past mistakes

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Australian company directors should be doing more to ensure their executives stick to the ethical values espoused at Board level if they want to avoid a repeat of the poor behaviours exposed at the Hayne Royal Commission. In a Dialogue paper[1], published by the Actuaries Institute but representing the views of the author, Barry Rafe

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Actuaries Institute president says risk management is increasingly important

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Risk management is a significant area of growth for Australia’s actuaries as the private and government sectors, the economy and jobs market recover from the impact of COVID-19, incoming Actuaries Institute President Jefferson Gibbs said. Mr Gibbs, who takes over from Hoa Bui, said actuaries will increasingly expand their remit, taking on greater and more

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Australian Actuaries Climate Index shows most extreme Spring to date

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The Australian Actuaries Climate Index shows that the Spring of 2020 exhibited extreme weather in comparison with the same season in previous years. While a temperature index value of this level in the Spring reflects less severe overall conditions than would be seen in Summer, it remains a noteworthy data point in the ongoing trend

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Actuaries Institute Pre-Budget submission says super must be simpler and its purpose clear

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In a pre-Budget submission to federal Treasury, the Actuaries Institute has urged the Government to simplify Australia’s superannuation regulations, review areas where retirees need extra support and legislate to make the overall objective of the retirement income system clear. The submission was lodged with the federal Government on 29 January. The Institute believes Australians should

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Actuaries Institute says better measures needed to understand insurance affordability

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Households in up to 12% of Australian postcodes may face pressure meeting annual home insurance premiums, a figure which represents around 7% of Australia’s population, according to a major research paper from the Actuaries Institute.[1] The paper states Australia has a sophisticated approach to pricing risk for natural disasters, which is reflected in premiums that

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Australian Actuaries Climate Index records mildest winter in five years with warm temperatures and low levels of wind

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The Australian Actuaries Climate Index, which measures the occurrence of extreme weather conditions and sea levels, showed winter was relatively benign across most of Australia, with the Index falling to levels not seen since winter 2015. The Index, which was launched in November 2018, tracks these extremes and how they change over time compared with

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Actuaries Institute Taskforce finds broad changes needed to sustain disability income insurance market

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An Actuaries Institute Taskforce has made sweeping recommendations for broad changes to Australia’s retail disability income insurance market to reset sustainability for a sector under threat. Taskforce Convenor Ian Laughlin said without an overhaul, those who need cover may not be able to afford it in the future and life insurance companies selling individual disability

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Early COVID-19 Deaths May Be Understated

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More Australians likely died from COVID-19 during the first weeks of the virus outbreak in Australia than has been reported, with deaths attributed to other causes because testing was limited. An Actuaries Institute research paper found a spike in deaths from pneumonia, stroke and diabetes, all causes of death related to COVID-19 in some way,

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Actuaries Institute names Jennifer Lang Actuary of the Year 2020

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The Actuaries Institute has named Jennifer Lang 2020 Actuary of the Year. Ms Lang’s role this year, in leading the Actuaries Institute’s COVID-19 response, has been recognised as a major contribution to the profession and the communities in which actuaries work. The Institute’s COVID-19 Working Group brought together more than 80 actuaries, as volunteers, who

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Actuaries Institute research shows equity gap growing between generations

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Falling rates of home ownership, government spending that skews to older Australians and deteriorating environmental factors are some of the factors that have driven a wider gap in equity between Australia’s young and old. The Actuaries Institute’s latest Green Paper, Mind the Gap – The Australian Actuaries Intergenerational Equity Index (AAIEI), launched yesterday, takes a

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