133:. It was incorporated March 18, 1965. The FCIA designation stands for Fellow of the Canadian Institute of Actuaries. As the national organization of the Canadian actuarial profession, the CIA serves the public through the provision by the profession of actuarial services and advice by: representing the Canadian actuarial profession in the formulation of public policy; promoting the advancement of actuarial science; educating and qualifying CIA members; ensuring that actuarial services provided by its members meet accepted professional standards; and assisting actuaries in Canada in the discharge of their professional responsibilities.
27:
160:. The Canadian Association of Actuaries was established October 8, 1946, and included all members of the Actuaries Clubs of Toronto and Winnipeg as well as a group of Montreal actuaries. This was the organization that formed the membership basis of the CIA when it was established by an Act of Parliament on March 18, 1965.
450:
The
Actuarial Profession Oversight Board (APOB) was established by the CIA to provide independent and objective public oversight of the actuarial profession in Canada. APOB binds the CIA to its promise to hold the duty of the profession to the public above the needs of the profession and its members.
454:
APOB has a broad, public-oriented perspective of the complex issues facing today’s actuaries. The board’s diverse membership draws from backgrounds in industry, business, regulatory bodies, organized labour, and other professions. The group also includes three members appointed by the CIA Board from
419:
The Board manages the work of the
Institute. In accordance with the Institute’s Bylaws, six councils perform specific duties and report to the Board annually. Councils inform the Board of important initiatives. The Board’s focus is on strategic management, not operational issues. It approves council
496:
The CIA produces different types of public statements to address issues of public policy in Canada and to respond to public consultations by governments and regulatory bodies. As a non-partisan entity, the CIA’s policy activities focus on offering input and advice to the benefit of the public good
458:
APOB is entirely independent in its operations and directly oversees the key regulatory functions of the
Institute; namely, actuarial standard-setting, continuing professional development, and professional conduct. APOB also provides the CIA Board with its public-oriented perspective on other CIA
487:
The
Standards of Practice are precise and detailed descriptions of how actuaries, in all practice areas (e.g., actuarial evidence, pensions, life or property/casualty insurance), are to go about their work. They range from detailed instructions on how to make certain calculations to more general
471:
In 1991, the federal
Insurance Companies Act enshrined the role of Appointed Actuary in federal legislation. This role includes a formal designation from the boards of directors of all insurance companies and includes access to management information; a report in writing of any transactions or
475:
Other roles reserved for FCIAs include the certification of defined-benefit pension plan valuations, filing responsibility for auto insurance rates, and the determination of interest rates in cases where the rate charged possibly exceeds the maximum stipulated in the
Criminal Code of Canada.
149:, who became a Fellow of the Institute of Actuaries in 1852. The federal Department of Insurance was established in 1875 and shortly thereafter recruited actuaries to its staff. The first actuarial organization in North America was the Actuarial Society of America, founded in 1889 in
472:
conditions which, in the actuary's opinion, have a significant adverse effect on the financial condition of the company; an annual report to boards of directors; and a report by the
Appointed Actuary accompanying the published financial statements of companies.
438:
The CIA recognizes actuarial credentials earned from several other actuarial organizations around the world that enable associates and fellows of those organizations to qualify for CIA membership upon meeting a few additional requirements.
431:
A person may apply for membership in the
Institute as an Associate (ACIA), a Fellow (FCIA), an Affiliate, or a Correspondent. Full details of the examinations, courses, and other steps that are required are available on the CIA's website.
488:
requirements as to what should be disclosed in actuarial reports. They are developed and adopted by the
Actuarial Standards Board according to its due process and are published by the Canadian Institute of Actuaries.
467:
Several regulations and pieces of legislation, both federal and provincial, specify roles that can only be fulfilled by individuals holding the designation of Fellow of the
Canadian Institute of Actuaries (FCIA).
435:
Since September 2012, the CIA has operated a University Accreditation Program that provides students with the option of completing some ACIA requirements through their actuarial science degree.
520:
The AFC pursues a variety of goals through giving and receiving grants and focusing on education, research, and consumer-education initiatives for the public and young Canadians especially.
455:
within the CIA’s membership, ensuring that APOB has subject expertise on actuarial matters, while also providing the CIA Board with a level of insight into APOB operations.
964:
479:
The Canadian Institute of Actuaries Standards of Practice are defined and referenced in provincial pension benefits acts and regulations, such as in Ontario and Quebec.
423:
The Board supports councils, committees, and task forces to act on technical and professional issues. It also exercises due diligence on the activities of the councils.
513:
In November 2001, the CIA Board authorized the development of the Actuarial Foundation of Canada (AFC), which was founded in December 2003 to support youth education,
497:
and all Canadians. Recent policy statements by the CIA have addressed topics such as retirement age, climate change, pharmacare, and big data and risk classification.
505:
The CIA publishes Seeing Beyond Risk, a platform for articles and podcasts in both English and French about actuaries and the actuarial profession in Canada.
156:
The original organization of actuaries in Canada, the Actuaries Club, was founded in 1907 with 24 charter members, all actuaries living and working in
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In 2022, the CIA launched a new education program that does not rely on the education or examinations of any other actuarial body.
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membership and appointment of certain committees. It also sets membership fees and the operating budget for the Institute.
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The Institute is governed by a Board elected from the membership. The Board is composed of the following members:
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The beginning of the actuarial profession in Canada can be dated to 1847, when the
142:
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Canadian Institute of Actuaries (CIA)/Institut canadien des actuaires (ICA)
686:
157:
62:
929:"Actuarial Foundation of Canada – Supporting youth financial literacy"
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activities managed by the CIA councils which report to the CIA Board.
171:. A formal bilingualism policy was adopted by the Institute in 1977.
130:
58:
905:"Seeing Beyond Risk – News from the Canadian Institute of Actuaries"
856:
409:
President, President-Elect, Immediate Past President – one-year term
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712:"Consolidated federal laws of canada, Insurance Companies Act"
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and included four Canadians among its 38 charter members.
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An Act to Incorporate the Canadian Institute of Actuaries
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Following competitions, the Institute adopted the motto
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833:"Time to Act- Facing the Risks of a Changing Climate"
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710:Branch, Legislative Services (2021-06-30).
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663:"University Accreditation Program Home"
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857:"Pharmacare- Is There a Pill for That"
125:) is the national organization of the
145:was founded in Hamilton, Ontario, by
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31:Canadian Institute of Actuaries logo
548:International Actuarial Association
761:"- Supplemental Pension Plans Act"
542:Institute and Faculty of Actuaries
412:Twelve Directors – three-year term
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559:Society of Actuaries in Ireland
415:Executive Director (ex officio)
119:Canadian Institute of Actuaries
955:1965 establishments in Ontario
509:Actuarial Foundation of Canada
1:
530:American Academy of Actuaries
143:Canada Life Assurance Company
639:"New Qualification Pathways"
386:2020-2021 Michel St-Germain
292:1994–1995 K.K. von Schilling
736:"Law Document English View"
369:2015-2016 Robert Stapleford
364:2014–2015 Jacques Tremblay
328:2004–2005 B.A.P. FitzGerald
981:
765:www.legisquebec.gouv.qc.ca
536:Casualty Actuarial Society
391:2021-2022 Jacque Friedland
361:2013–2014 Jacques Lafrance
350:2010–2011 Micheline Dionne
16:Canadian professional body
463:Legislation and actuaries
394:2022-2023 Hélène Pouliot
320:2002–2003 A.D. Pelletier
298:1996–1997 N.S. Henderson
240:1980–1981 C.T.P. Galloway
237:1979–1980 J.T. Birkenshaw
24:
492:Public policy activities
375:2017–2018 Sharon Giffen
287:1993–1994 J.A. Brierley
281:1991–1992 W.P. McCrossan
265:1987–1988 J.D. Crawford
259:1985–1986 M. Rosenfelder
193:1967–1968 A.R. McCracken
169:We care about the future
909:www.seeingbeyondrisk.ca
716:laws-lois.justice.gc.ca
353:2011–2012 Jim Christie
347:2009–2010 R.C.W. Howard
284:1992–1993 M.W. Chambers
243:1981–1982 L.B. Fewster
210:1972–1973 J.C. Maynard
204:1970–1971 J.C. Davidson
188:1966–1967 E.S. Jackson
960:Actuarial associations
372:2016-2017 Dave Dickson
358:2012-2013 Simon Curtis
331:2005–2006 C.C. McLeod
251:1983–1984 C.D. Chapman
248:1982–1983 Y.G. Guérard
232:1978–1979 T.R. Suttie
229:1977–1978 W.J.D. Lewis
226:1976–1977 M.D.R. Brown
221:1975–1976 R.B. Leckie
215:1973–1974 R.C. Dowsett
207:1971–1972 L.J. Mondoux
199:1969–1970 L.E. Coward
881:"Publication Details"
591:"Publication Details"
483:Standards of practice
383:2019-2020 Marc Tardif
325:2003–2004 M. Lombardi
317:2001–2002 J.-L. Massé
314:2000–2001 D.J. Oakden
309:1999–2000 S.F. Wason
303:1997–1998 H.H. Panjer
276:1990–1991 R.L. Brown
270:1988–1989 J. Cloutier
254:1984–1985 C.S. Moore
185:1965–1966 R. Humphrys
553:Society of Actuaries
446:Profession oversight
342:2008–2009 M.A. Hale
339:2007–2008 J.H. Murta
336:2006–2007 N. Gendron
306:1998–1999 P.F. Morse
273:1989–1990 P.C. Hirst
262:1986–1987 K.T. Clark
218:1974–1975 C.G. White
127:actuarial profession
785:"Public Statements"
687:"APOB Landing Page"
380:2018-2019 John Dark
295:1995–1996 M. Fernet
196:1968–1969 C.E. Jack
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515:consumer education
501:Seeing Beyond Risk
101:Steve Prince, FCIA
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167:, meaning
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97:President
37:Formation
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65:, Canada
615:"Board"
158:Toronto
137:History
106:Website
86:English
63:Ontario
131:Canada
90:French
75:6,000+
59:Ottawa
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