A new report from the Canadian Institute of Actuaries (CIA) and the Casualty Actuarial Society (CAS) analyzes the impact of marijuana decriminalization on the vehicular accident experience in Canada and the United States.
Marijuana has been legal or decriminalized in Canada and other jurisdictions in North America for a few years now. There has been some concern that this would lead to increased usage, and consequently a higher level of auto insurance accident claims.
The education of actuarial candidates at the university level has undergone several changes over time, as instructors respond to developments in actuarial knowledge, required skill sets, and expectations of both students and future employers.
Earlier this year, the Canadian Institute of Actuaries (CIA) issued a statement on the growing interest in using big data in insurance ratemaking.
The latest buzz phrase in the insurance industry is “embedded insurance,” which presents an opportunity to seamlessly offer protection in real time given a proactive approach to risk management. Underpinning embedded insurance is the ability to personalize insurance. This requires that customers understand the necessity of sharing more data with their insurance providers.
Canadian Institute of Actuaries
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