By the Academy’s Committee on Professional Responsibility
The article below—originally released by the Academy’s Committee on Professional Responsibility in November 2021— is intended to help actuaries think proactively about professionalism and how to explain its importance to the work they do and the stakeholders they serve. We are republishing it here to amplify this important message.
By Eric Klieber
Created in 1935, in the depths of the Great Depression, Social Security (officially the Old Age, Survivors and Disability Insurance System) was initially motivated primarily by a desire to provide economic relief for those deemed unable to work due to old age and thus unable to benefit from the new Unemployment Insurance program or from New Deal programs providing jobs for the unemployed, such as the Works Progress Administration and Civilian Conservation Corps.
By John Blocher
How do we provision a small amount life insurance policy as efficiently as possible to a person with low and highly variable income? Step to the dry-erase board and suspend disbelief to think about the best way to do this.