Technical Actuarial Standard – Modelling (TAS-M)
The proposed date of commencement of 1 January 2011 for TAS-M is fast approaching. The new standard will require all insurance models to be used for reports with year end 31 December 2010 to meet the new Board for Actuarial Standards’ (BAS) “Technical Actuarial Standard – Modelling” (TAS-M) requirements.
The consultation response published in March 2010 discusses the impact of Solvency II:
“As the Board will be aware the insurance industry is working hard to prepare for Solvency II the advent of which will mean that the work undertaken now to conform models to TAS_M requirements will be nugatory. Again this causes us to suggest that the Board consider the appropriateness on introduction from 1 January 2011.”
For full details of the consultation response, as published on the Institute and Faculty of Actuaries (UK) website, follow the link below:
