The primary domain of the responsible actuary is life and casualty insurance. However, these persons are also active in the fields of motor, liability, and accident insurance. They are appointed in order to verify the determination of premiums and provisions. Under German insurance supervision law (German VAG) their appointment is obligatory in the respective insurance sections. This is justified by the fact that financial obligations, both current and future (for instance from pensions and annuities or from premium refunds), must be secured in the long term through insurance premiums and appropriate reserves.
Meyerthole Siems Kohlruss (MSK) assumes the role of a responsible actuary in all relevant sections. Please contact us.