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 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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Australian Actuaries Climate Index shows a lull in extreme events but a persistent trend in overall climate

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Key points The weather has largely returned to typical levels in Australia after a period of extremely destructive bushfires and storms. While the record-breaking extreme high temperatures, dryness and rainfall of the summer have subsided, a clear long-term trend towards an increasing frequency of extreme weather remains. The overall index value for Australia breaks no

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Actuaries Institute says ATO should have key role in early super release, estimates $25b-plus withdrawals

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The Actuaries Institute recommends the Australian Tax Office play a significant role in payment of limited, early release superannuation to people financially impacted by COVID-19. The Government has said it would allow workers affected by the crisis to pull as much as $20,000 out of their superannuation, in two tranches of $10,000 each. The Convenor

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Actuaries Institute recommends disability insurance sector reform to ensure community and customer benefits

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The Actuaries Institute said Australia’s $5 billion disability income insurance (DII) sector needs urgent reform, noting that failure to implement significant changes will reduce consumer access to affordable disability cover in the future. The Actuaries Institute has established a taskforce to identify where critical reform is needed. It commissioned KPMG to compile a comparative research

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Australian Actuaries Climate Index shows extreme conditions prevailed in spring 2019 with records set across states

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The Australian Actuaries Climate Index [1]shows a combination of weather conditions in the Spring of 2019 that are likely to have fuelled the bushfires currently devastating the country. Every region recorded below reference period[2] average extreme rainfall, above reference period average extreme high temperatures and several regions broke records. Every region except Tasmania recorded above

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Australian Actuaries Climate Index shows Autumn 2019 second hottest Autumn since index started

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The Australian Actuaries Climate Index shows Autumn 2019 continued the pattern of extreme weather: last Autumn ranked as the second most extreme in the number of hot days ever recorded in the three months from March, and the third when ranked against all seasons. Only the Autumn of 2016 and the Summer of 2018/2019 showed

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Actuaries Institute Green Paper urges retirement reform

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Three of Australia’s leading superannuation and retirement experts have urged the Federal Government to give broad scope to its pending review of Australia’s retirement system, to better integrate the Age Pension, superannuation and aged care. Dr David Knox, Dr Anthony Asher and Michael Rice, authors of the Actuaries Institute’s Green Paper, Options for an Improved

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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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