Casualty Actuarial Society
.png)
Casualty Actuarial Society logo
|
|
| Formation | 1914 |
|---|---|
| Type | Professional body |
| Headquarters | Arlington, VA |
| Location |
|
|
Membership
|
6,532 as of November 2014[update] |
|
Official language
|
English |
|
President
|
Stephen P. Lowe |
| Website | http://www.casact.org/ |
The Casualty Actuarial Society (CAS) is a professional society of actuaries specializing in property and casualty insurance.
The two levels of CAS membership are Associate (ACAS) and Fellow (FCAS). Requirements for these levels of membership include a comprehensive series of exams. Topics covered in the exams include statistics, mathematics, finance, economics, insurance, enterprise risk management, and actuarial science. Another class of CAS membership, Affiliate, includes qualified actuaries who practice in property-casualty insurance but do not meet the qualifications to become an Associate or Fellow.
The society was founded in 1914 and originally named the Casualty Actuarial and Statistical Society. The present name was adopted in 1921. The society's first president was I. M. Rubinow, who played a key role in its formation. There were 97 founding members of the society.
The CAS was at first primarily concerned with problems of workers compensation insurance, which was introduced in the U.S. in the early 20th century. Eventually members of the society worked on all types of property-casualty insurance, including coverages for automobiles, homes and businesses. The society has now grown to over 6,000 members. Although the majority of members live and practice in the United States, there are CAS members in more than 25 countries around the world.
Members of the CAS are employed by insurance companies, reinsurance companies, insurance brokers, educational institutions, ratemaking organizations, state insurance departments, the federal government, independent consulting firms, and non-traditional employers. There are a number of regional affiliates of the CAS, along with several special interest sections. As of November 2013[update], there are 4,015 Fellows, 1,817 Associates, and 20 Affiliate members of CAS.
The CAS requires all candidates to qualify through a series of actuarial exams covering various aspects of actuarial practice. Passing Exam 1-6 as well as Exam S, the Course on Professionalism, the Validation by Educational Experience (VEE), and two online courses qualifies an actuary for the Associateship designation; passing three additional exams is required to become a Fellow. The exam process usually takes a long time to complete, often near a decade, due to the low pass ratios and the difficulty of the syllabus material.
...
Wikipedia