Actuaries Institute tackles challenges facing private health insurance

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Australia has one of the world’s best health care systems but high out-of-pocket costs, decreasing health insurance affordability, and a lack of transparency around specialists’ fees and patient outcomes are undermining the current system. Yesterday, the Actuaries Institute launched a Green Paper, How to Make Private Health Insurance Healthier. The Institute identifies several major opportunities […]

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Australian Actuaries Climate Index shows a summer of extremes

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The Australian Actuaries Climate Index shows Summer of 2018-19 was a season of record extremes; the number of hot days reached record levels, there were all time high levels of extreme rainfall in tropical regions and parts of central NSW were caught in ongoing drought. The index was released yesterday, and is the second quarterly […]

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Actuaries Institute paper says financial institutions should measure their social condition

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Highlights The Hayne Royal Commission showed institutions have failed to understand and manage relationships with society and their associated social risks. This has resulted in great reputational damage and loss of social capital for those institutions. ‘Social condition’ is as important as ‘financial condition’ to the success and sustainability of an institution. The authors propose […]

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Australian Actuaries Climate Index shows frequency of extreme hot days rising

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The Australian Actuaries Climate Index, updated for the first time since its launch in late 2018, shows the number of extreme hot days was above historical levels in both Winter and Spring 2018, and portions of Australia remained extraordinarily dry showing distinct signs of drought. The Index provides an objective measure of extreme weather conditions […]

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Actuaries welcome super changes that should lead to improved living standards for retirees

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The Actuaries Institute has welcomed the federal Government’s changes to Australia’s post-retirement superannuation system that it hopes will lead to improved living standards for retirees. The legislation passed through Parliament on February 14. The raft of measures deal with the risks for retirees that they outlive their savings; it will give older Australians more financial […]

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Actuaries Institute welcomes final Royal Commission report

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The Actuaries Institute welcomes the final report from the Royal Commission into Australia’s banking, superannuation and financial services sectors. The Royal Commission, which received more than 10,000 submissions, has revealed significant problems that must be addressed across banking, insurance and superannuation. “The Institute fully supports the cultural change that has been advocated by the Royal […]

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Adaptive enterprises manage risk best

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Organisations that fail to adapt to rapidly changing community expectations, or that focus on one stakeholder such as shareholders over all others, can’t effectively manage their risk, according to a research paper* prepared for the Actuaries Institute. Andrew Brown, specialist consulting actuary, warns that the cultural failings identified in the Royal Commission into Australia’s finance […]

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Actuaries Institute launches climate index

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The Actuaries Institute has launched a climate index, an objective measure of extreme weather conditions and changes to sea levels, to help policymakers and Australia’s businesses assess how the frequency of weather extremes is changing over time. The Australian Actuaries Climate Index, which includes a number of sub-indices, tracks changes in the frequency of extreme […]

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Small changes can deliver big budget savings and better outcomes for those on social security

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Moderate changes to Australia’s social support programs could deliver better outcomes for those receiving assistance and result in billions of dollars in budget savings, according to a paper published by actuary Hugh Miller. For each vulnerable individual, social service spending across welfare, housing, health care, justice and child protection can easily amount to $500,000 to […]

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Actuaries Institute announces new leadership team

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New president Daniel Smith outlines key priorities for 2014 The Actuaries Institute (the Institute) today formally announced the appointment of Daniel Smith as 2014 Institute President. He will be joined by former Actuary of the Year Estelle Pearson as Senior Vice President, and Lindsay Smartt as Vice President. Mr Smith, Ms Pearson and Mr Smartt […]

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