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Accession #: 220136

 

Publication Date:
September 18, 2020
Title:
Educational Note – 2020 Guidance to the Appointed Actuary and Valuation Actuaries for Property and Casualty Insurers
Other Details:
16 pages.
Author:
Actuarial Guidance Council
Description:
The Committee on Property and Casualty Insurance Financial Reporting (PCFRC or the Committee) has prepared this educational note to provide guidance to the Appointed Actuary and valuation actuaries in several areas affecting the valuation of the 2020 year-end insurance contract liabilities and other responsibilities of the Appointed Actuary of Property and Casualty insurers for Canadian generally accepted accounting principles (GAAP) purposes. This note reviews relevant standards of practice (SOP) and other educational notes and discusses current issues affecting the work of corporate actuaries.

The educational note is structured in nine sections and two appendices. The nine sections provide guidance on recent and emerging guidance and issues. Appendix A contains a list of relevant educational notes and reference documents. Appendix B provides an update on IFRS 17.

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