Thursday, February 26, 2015

Actuarial Dis-Organizations

What started as a "yo-momma" joke has escalated into a full out battle for middle earth. At least, that is how it seems as some major actuarial organizations engage in a turf war.

To recap for the general public:
  1. Actuaries are not mythical creatures.  They exist and provide a service to the public through pricing and mitigating financial risks.
  2. Several actuarial organizations help actuaries accomplish that goal. 
    • Some are country specific.
    • Others are international.
    • Others are practice oriented.
  3. Individual actuaries can be, and often are, members of multiple organizations.
  4. Each group has its own concerns, but until recently, they have been more collaborative than combative.  
But things changed.
 Recaps exist in other places, but basically somebody said something they weren't supposed to, which made other people upset. Then there was a lot of chest puffing and positioning and certain claims were made which may or may not be true, now people are suing each other....blah blah blah. DRAMA!

In the midst of the bloodbath, the general population of actuaries would rather not bicker and argue, and just get along.

One distraught actuary thought the quarreling was his fault. "I shouldn't have complained about dues so much." He said through watery eyes. The bickering associations paused for a moment to console him, saying he's not to blame, but sometimes organizations need to separate for a little bit. No matter what, they will always still love collecting his money.

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