(NAR) VOL. 26 NO. 2/ APRIL - JUNE 2015
(a) | He is a Fellow of good standing of the Actuarial Society of the Philippines (ASP) at the time of his appointment and remains in such good standing during the tenure of his engagement; or | |
(b) | In the case of one who is not a fellow of the ASP, he meets all the requirements of the ASP for accreditation as a fellow of the Society and has been given permission by the pertinent government authorities to work in the Philippines in the event that he is not a Filipino citizen; or | |
(c) | In the case of one who is an Associate of the ASP, he shall be allowed to sign actuarial certifications required by IC Circular Letter No. 2015-32 ; Provided that: | |
i) | He is an Associate of good standing of ASP at the time of his appointment and remains in such good standing during the tenure of his engagement; and | |
ii) | He shall be allowed to perform only such duties and responsibilities of a non-life actuary until December 31, 2017, and may continue to do so beyond this date only after satisfying all the requirements to become a Fellow of the ASP. | |
(d) | In addition, he must have completed at least the Basic Non-life Insurance Course and passed the corresponding examinations conducted by the Insurance Institute for Asia and the Pacific (IIAP) as a pre-requisite to undertake actuarial work pertaining to non-life insurance business. The pertinent certificate of completion shall be submitted to the Insurance Commission. |
(a) | Failure to adequately perform the required duties and functions of a non- life accredited actuary prescribed in the Amended Insurance Code and this Circular; |
(b) | Failure to disclose conflict of interest; |
(c) | Failure to comply with the Code of Conduct and Standards of Practice of the ASP; and |
(d) | Such other grounds as may be determined by the Insurance Commissioner. |