Morris review puts actuaries under the microscope

That Report suggested flaws within the profession were one of the reasons behind the Equitable Life debacle. In response the government asked Sir Derek Morris to conduct a wide-ranging review of the actuarial profession. The Morris review will look at the role of actuaries, the current regulatory framework of the profession, and the roles and responsibilities of the Government Actuary’s Department (GAD). The latter was fiercely criticsed by Penrose. Lord Penrose argued in his inquiry into the Equitable Life fiasco that too much reliance has been placed on appointed actuaries. He also ...