WC

[I_actuate™]

Why have there historically been so may questions from the WC paper? I realize it's the longest one, but why does the CAS feel that it is so important to know the WC information? Of all the papers, this one is of least interest to me since I don't even work on WC at all.

[Colymbosathon ecplecticos]

Of all the papers, this one is of least interest to me since I don't even work on WC at all.

Think of the exams as qualifying you for your next job.

[joeorez]

Why have there historically been so may questions from the WC paper? I realize it's the longest one, but why does the CAS feel that it is so important to know the WC information? Of all the papers, this one is of least interest to me since I don't even work on WC at all.

Maybe there is something useful in the WC papers that is applicable to another area of the business, even if you don't work on WC.

As an example, the next time you are doing personal auto ratemaking in a no-fault state, should you do benefit level adjustment factors for changes in the no-fault law? And if not, why not?

[Examinator]

Workers' Compensation is a hefty piece of the P&C pie. Where else would the CAS test it and its ratemaking concepts?

[JustASix]

One explaination of the emphasis on WC was given at the NEAS seminar. I can't remember if it was Mahler or Feldblum that said it. The CAS was founded by actuaries specifically to deal with WC insurance.

This is an interesting link. Check out page one of the 50 year history.

http://www.casact.org/members/committees/hist.cfm

[dumples]

Feldblum said it, I remember that.