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Short-term Insurance

 

The Short-term Insurance Committee has established the following subcommittees:

  • The purpose of the CPD subcommittee is to identify Continued Professional Development (CPD) needs and to provide CPD opportunities for members in relation to Short-term Insurance actuarial work.
  • The Legislation subcommittee consists of various workstreams:
    • Accounting workstream: For the pro-active monitoring of international accounting standards affecting actuaries practicing in Short-term insurance, participating in SAICA STIPG initiatives as the STIC and Society representative, quarterly attendance of SAICA STIPG meetings on behalf of STIC. 
    • The focus of the Tax workstream is on tax developments in legislation, particularly in SAM. 
    • The SAM workstream involves participation in developing SAM legislation and participating and contributing to work groups.
  • The Professional Guidance stream is responsible for the development and maintenance of relevant professional guidance for actuaries operating in the Short-term insurance industry in South Africa, as well as for actuaries in wider-fields areas.
  • The Practising certificate stream is responsible for overseeing the issuing of Short-term insurance practising certificates and also has a responsibility to liaise with similar streams or committees of other South African actuarial practice areas (e.g. Health, Life) to ensure consistency of principles and approach.
  • The Education subcommittee is responsible to ensure that students preparing for the F203 exam have adequate tuition assistance.
  • The Research subcommittee has the responsibility to monitor relevant websites and publications in order to identify topical short term insurance issues.

The Short-term Insurance Terms of Reference contains detailed information about the subcommittees and its members.