The Casualty Actuarial Society Board of Directors approved a revised version of the CAS Continuing Education (CE) Policy at its November 9, 2014 meeting.
For the majority of CAS members, the revised policy represents little or no change from the requirements of the current policy. Most CAS members are required to follow the CE requirements of the U.S. Qualification Standard, with many remaining members required to follow other national standards in Australia, the United Kingdom or Canada, which fulfill the CAS CE Policy requirements. Very few CAS members utilized the alternative compliance provisions (ACP) of the former policy. The revised policy discontinues the ACP and in its place requires CAS members that provide actuarial services to use one of the four recognized national standards mentioned above that is most relevant.
In short, complying with the CAS CE Policy is as straightforward as following one of the recognized national standards. This change remedies an aspect of the CAS CE Policy that was found to be frequently misunderstood.
Note that other provisions of the CAS CE Policy remain unchanged. These include:
- The review of a sample of members’ CE documentation
- Documentation requirements for member compliance
- Transition rules and first application for new members
- The recognized national standards
- The requirement to attest compliance annually
Members should follow this new standard for credits earned in 2015 and attested to at the end of 2015. Due to some recognized national standards and the ACP involving 60-month rolling periods, members have the option to defer and follow the existing CAS Policy for one additional year. If so elected, members should then follow the revised policy for credits earned in 2016 and attested to at the end of 2016.
The revised CAS CE Policy is available for review on the CAS website in the Professional Education section.
