Page 202 - Fire Insurance Ebook IC 57

Fire and Consequential Loss Insurance

knowledge and without any responsibility for
business development.

(iv) Role and extent of involvement of the appointed
actuary in review of statistics to determine the
rates, terms and conditions of cover in respect of
internal tariff rated risks and product designed is
very wide.

His actual role is much more important than the
purely mathematical role he plays in
underwriting . He has to utilise his training in
respect of logical thinking and analysis rather
than pure mathematics. He can play the role of
a moderator on the underwriting process in
areas with little statistical support and severe
competitive pressure.

The Appointed Actuary or the CFO or the FA
can act as the moderator of the company in
absence of statistical data support.

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