What Is the Casualty Actuarial Society (CAS)?

The Casualty Actuarial Society (CAS) is a professional society of actuaries, and the accrediting body fo💦r the Associate of the Casualty Actuarial Society (ACAS) and the Fellow of the Casualty Actuarial Society (FCAS) designations.

The CAS focuses on risks and hazards related to property-casualty insurance (e.g., care and home in🦩surance), and not life or health insurance.

Understanding t🍃he Casualty Actuarial Society ൩(CAS)

The Causality Actuarial Society is a global industry organization for actuarial professionals in the lines of 澳洲幸运5官方开奖结果体彩网:property and causality insurance. In addition to providing professional credentials that are recognized worldwide throughout the insurance industry as a gold standaꦬrd, it also provides education♚al resources, events, and relevant news to its members.

Formed in 1914, the organization began with 97 charter members. CAS emerged as a result of discrepancies that arose between sickness, disability, and casualty insurance related to 澳洲幸运5官方开奖结果体彩网:workers' compensation, and traditional life insurance.

The more than 9,100 CAS members are employed by reinsurance companies, insurance companies, educational institutions, insurance brokers, state insurance departments, rate-making organizations, non-traditional employers, independent consulting firms, and the federal government.

According to its website, the mission of the Casualty Actuarial Society is six-fold:

• To advance the body of knowledge of actuarial science applied to general insurance, including property, casualty, and similar risk exposures.
• To expand the application of actuarial science to enterprise risks and systemic risks.
• To establish and maintain standards of qualification for membership.
• To promote and maintain high standards of conduct and competence.
• To increase the awareness of actuarial science.
• To contribute to the well-being of society as a whole.

CAS Credentialling Programs

The Casualty Actuarial Societ🦹y (CAS) requires all candidates to qualify through a series of rigorous actuarial exams, covering all aspects of actuarial practice including mathematics, finance, economics, insurance, enterprise risk management, and actuarial science.

Successful completion of (or credit𒁃 for) exams one through seven and attendance at the CAS Course on Professionalism satisfy the education requirements for associateship. Satisfactory completion of (or credit for) all nine exams is required for fellowship, the highest distinction a m🐻ember can receive.

The CAS offers two professional credentials, the Associate of the Casualty Actuarial Society (ACAS) and the Fellow of the Casualty Actuarial Society (FCAS). Either credential can only be undertaken after an initial competency exam is passed that covers basic probability and financial mathematics, known as the Validation by Educational Experience (VEE), which may be completed as an undergraduate by accounting or actuarial majors.

After passing five more exams covering more advanced topics in actuarial statistics, the ACAS degree is awarded. Then, two more exams must be passed, one dealing with regulation and financial reporting, and the other on financial risk. If those are passed, the FCAS c𝄹redential is awar꧑ded.