The Committee on Property and Casualty Insurance Financial Reporting of the Canadian Institute of Actuaries has prepared this educational note to provide guidance to the Appointed Actuary and valuation actuaries (referred to as “actuaries” in the rest of this educational note) in several areas affecting the valuation of the 2024 year-end insurance contract liabilities and other responsibilities of the Appointed Actuary of property and casualty (P&C) insurers.