Open AccessManaging Actuaries\' Professional Risk
Author(s) -
M.W. Lowther,
J.W.T. MORT
Publication year - 2002
Publication title -
south african actuarial journal
Language(s) - English
Resource type - Journals
ISSN - 1680-2179
DOI - 10.4314/saaj.v2i1.24484
Subject(s) - indemnity , risk management , actuarial science , causation , business , actuary , enterprise risk management , risk analysis (engineering) , underwriting , professional standards , risk assessment , accounting , economics , management , finance , law , political science
This paper describes a new concept, of vital importance to actuaries, which the authors have named \'managing actuaries\' professional risk\'. Much has been written on the constituent elements of legal causation, risk management, indemnity insurance and professional conduct standards. This paper envisages an integration of these elements using the profession\'s own guidelines for risk analysis and management for projects (RAMP). Actuaries are experts in risk applications for clients-in an increasingly litigious society, they need to apply their expertise in their own back yard.KEYWORDSProfessionalism; professional risk; risk management; professional indemnity insurance. (South African Actuarial Journal: 2002 2: 29-52)
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