Casualty Actuarial Society (CAS)
What Is the Casualty Actuarial Society (CAS)?
The Casualty Actuarial Society (CAS) is a professional society of actuaries, and the accrediting body for the Associate of the Casualty Actuarial Society (ACAS) and the Fellow of the Casualty Actuarial Society (FCAS) assignments.
The CAS centers around risks and hazards connected with property-casualty insurance (e.g., care and home insurance), and not life or health care coverage.
Figuring out the Casualty Actuarial Society (CAS)
The Causality Actuarial Society is a global industry organization for actuarial professionals in the lines of property and causality insurance. As well as giving professional credentials that are recognized worldwide all through the insurance industry as a gold standard, it likewise gives educational resources, occasions, and significant news to its members.
Shaped in 1914, the organization started with 97 charter members. CAS arose because of disparities that emerged between sickness, disability, and casualty insurance connected with [workers' compensation](/laborers compensation), and traditional life insurance.
The in excess of 9,100 CAS members are employed by reinsurance companies, insurance companies, educational institutions, insurance brokers, state insurance divisions, rate-production organizations, modern employers, independent counseling firms, and the federal government.
As per its website, the mission of the Casualty Actuarial Society is six-overlay:
- To advance the collection of information on actuarial science applied to general insurance, including property, casualty, and comparable risk openings.
- To grow the application of actuarial science to enterprise risks and systemic risks.
- To lay out and keep up with standards of qualification for membership.
- To advance and keep up with high standards of conduct and capability.
- To increase the awareness of actuarial science.
- To add to the prosperity of society as a whole.
CAS Credentialling Programs
The Casualty Actuarial Society (CAS) requires all contender to qualify through a series of thorough actuarial exams, covering all parts of actuarial practice including math, finance, economics, insurance, enterprise risk management, and actuarial science.
Effective completion of (or credit for) exams one through seven and attendance at the CAS Course on Professionalism fulfill the education requirements for associateship. Good completion of (or credit for) each of the nine exams is required for cooperation, the highest qualification a member 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 certification must be attempted after an initial ability exam is passed that covers essential likelihood and financial arithmetic, known as the Validation by Educational Experience (VEE), which might be completed as an undergrad by accounting or actuarial majors.
Subsequent to finishing five additional exams covering further developed subjects in actuarial statistics, the ACAS degree is granted. Then, two additional exams must be passed, one dealing with regulation and financial reporting, and the other on financial risk. On the off chance that those are passed, the FCAS qualification is granted.
- CAS centers around property and causality risks and serves in excess of 9,000 professionals worldwide.
- The Casualty Actuarial Society (CAS) is an industry association of actuaries.
- CAS is likewise a credentialing body, giving the Associate of the Casualty Actuarial Society (ACAS) and the Fellow of the Casualty Actuarial Society (FCAS) professional assignments.