Actuarial independence and managerial discretion

• Main Authors: Kamiya, Shinchi, Milidonis, Andreas
• Other Authors: Nanyang Business School
• Format: Article
• Language: English
• Published: 2021
• Subjects: Business::Finance::Actuarial science; Business::Finance::Insurance; Business::Accounting; Casualty Insurance Industry; Insurer Reserve Error
• Online Access: https://hdl.handle.net/10356/149098
• Institution: Nanyang Technological University

Appointed actuaries are responsible for estimating the largest liability on property–casualty insurance companies’ balance sheet. Actuarial independence is crucial in safeguarding accurate estimates, where this independence is self-regulated by actuarial professional institutions. However, professio...