| Casualty Actuarial Society |
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Information AboutCasualty Actuarial Society |
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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 Mathematics , Finance , Economics , Insurance , 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. HISTORY The society was founded in 1914 and originally named the Casualty Actuarial and Statistical Society. The present name was adopted in 1922 . 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-causalty insurance, including coverages for automobiles, homes and businesses. The society has now grown to over 4,000 members. Although most members live and practice in the United States, a significant number work in other countries. 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. EXAMINATIONS The CAS requires Associates and Fellows to qualify through a series of rigorous exams covering all aspects of actuarial practice. Passing the first seven exams qualifies an actuary for the Associateship designation; passing two additional exams is required to become a Fellow. The exam process almost always takes a long time to complete, due to the low pass ratios and the difficulty of the syllabus material. A number of the earlier exams are conducted jointly with the Society of Actuaries, and a relatively few actuaries have qualified as members of both the CAS and the SOA. Most members of the CAS (like most members of the SOA) are also members of the American Academy Of Actuaries , the U.S. umbrella group for actuaries of all specialties. The subject matter covered on each of the nine CAS examinations is as follows: PUBLICATIONS AND RESEARCH The society's members publish a large number of research papers on various aspects of property-casualty actuarial science. The society's oldest and most prestigious research publication is the annual ''Proceedings of the Casualty Actuarial Society'', but many research papers are published in other formats. This research material is maintained in an extensive, searchable online database at the society's web site (see "External links"). MEETINGS AND ADMINISTRATIVE STRUCTURE The society holds two general meetings each year for the presentation of research papers and discussions about actuarial topics. Each of the regional affiliates also holds regular meetings. The governing body of the society is the 15-member board of directors, elected by members who hold the Fellowship designation. The administration of the society is conducted by a President and six Vice-Presidents elected by the Fellows and responsible for education and examinations, continuing education, membership services, research and development, publications, meeting and program planning, and international activities. A professional support staff works for the society and is located in Arlington, Virginia . EXTERNAL LINKS |
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