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Ethics and actuaries: issues and opportunities

Fri, 17 May 2019 11:01:16 GMT

I was invited by the “London Markets Actuarial Group”, made up of general insurance actuaries, to speak at an ethics workshop. This post is about some observations I have from this experience. My observations are critical. This does not mean I believe actuaries are not well-intentioned, rather there might be gaps in their understanding that inhibit clear ethical reasoning. The purpose is to highlight how ethical assumptions are always questionable and it is by asking questions that an individual becomes ethical. The context is that the professional body of UK actuaries, the IFoA, requires members to undertake two hours CPD on ethics a year and the workshop was a means to accomplish this requirement. I had been asked to comment on, amongst other topics: whether ethics just comes down to personal opinion; what is meant by “the public interest” and some comment on how ethics relates to managing risks, the core competence of actuaries. The organizer came up with some simple “cases” to...

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