Risk Evaluation Standard
The US Actuarial Standards Board (ASB) recently approved proposed ASOP Risk Evaluation in Enterprise Risk Management as an exposure draft.
In March 2011, discussion drafts on the topics of risk evaluation and risk treatment were issued. The ERM Task Force of the ASB reviewed the comments received and based on those comments, began work on the development of exposure drafts in those areas.
The proposed ASOP on risk evaluation provides guidance to actuaries when performing professional services with respect to risk evaluation systems, including designing, implementing, using, and reviewing those systems. The comment deadline for the exposure draft is June 30, 2012. An exposure draft on risk treatment is scheduled to be reviewed in summer 2012.
ASB Approves ERM Risk Evaluation Exposure Draft – Risk Evaluation in Enterprise Risk Management. Comment deadline: June 30, 2012