Announcement: Access the latest SOA updates on COVID-19 at SOA.org/covid-19-updates.

Due to unusually high email volume in Customer Service, you may experience a longer response time than usual. We apologize for any inconvenience this may cause.

COVID-19 – SOA Latest Information for You

 

The Society of Actuaries (SOA) is actively monitoring the outbreak of COVID-19 and will keep our members and candidates updated of any changes in our meetings, events and exams.

Updates on:

 

Education Department

 

  • Visit the FAQ Education Page for answers to the most frequently asked COVID-19 related questions.
  • Education committee meetings will be managed virtually for the immediate interim. Please see the SOA Education Volunteer Engage site for additional details or contact your committee chairperson.
  • In order to ensure the health and safety of everyone involved in the examination process, and to comply with the new federal guidelines, the SOA and its partner Prometric have made the following changes to upcoming exams:
    • The SOA’s Spring written-answer exams (LTAM, ERM, FSA, EA1, and EA2L) scheduled for April 24 – May 5 will be postponed globally to dates yet to be determined between June and September. We will contact you in with information about the new exam dates as soon as we are able to do so. In the meantime, registration for the Spring exams will remain open, as originally planned, until Monday March 23. Having the registration information will be helpful to the SOA in critical planning for a summer exam schedule. You will be able to apply your registration fee to a future exam when the new dates are available. However, if you prefer, you may also request and receive a refund of your exam registration fees.
    • Prometric will close its test centers in the United States and Canada for a period of 30 days, starting today, March 17. The three SOA computer-based testing (CBT) exams delivered by Prometric that are affected by this closure are: Investment and Financial Markets (IFM), Probability (P) and Financial Mathematics (FM). For further information and to check status of your local Prometric center please visit www.prometric.com/corona-virus-update
    Please contact customerservice@soa.org with requests for refunds and any questions. If you wish to apply your registration fee to a future exam, you should contact us once we have announced the new dates. In the meantime, we will place your registration on hold.
  • The APC for April and May have been cancelled due to concerns over the COVID-19 pandemic. Candidates have two options to proceed:
    1. SOA Customer Service customerservice@soa.org can provide a full refund of your APC registration, and you may choose to apply for an APC to attend at a later date.
    2. Contact apc@soa.org to transfer your APC registration to another open APC currently listed. This will be on a first-come first served basis for any open APCs.

    We thank you for your understanding and flexibility. Please contact apc@soa.org with any questions.

Professional Development

U.S. and Canada
  • The April 22-23 seminar for cohort 7 of the Predictive Analytics Certificate Program will be postponed. An update on plans for the rescheduled program will be sent to all participants on April 3. In the interim, please contact Martha Sikaras at msikaras@soa.org if you have any questions.
  • In light of the COVID-19 pandemic, LIMRA, LOMA, ACLI and the SOA have made the difficult, but necessary decision to cancel the 2020 Life Insurance Conference scheduled for April 20-22 in Salt Lake City, UT and the 2020 Retirement Industry Conference that was to take place April 22-24 also in Salt Lake City. Please visit the events’ sites for further information on refunds and virtual sessions that might be available soon.
  • The SOA has been closely monitoring the COVID-19 pandemic and we have decided to cancel the Life & Annuity Symposium (LAS) that was scheduled for May 3-5 in St. Louis and the associated Candidate Connect event that was to take place May 4. We made this decision based on the recommendation from the U.S. Centers for Disease Control and Prevention (CDC) to cancel or reschedule events with more than 50 attendees, and to ensure the safety and well-being of everyone involved in this event, our attendees, presenters, SOA staff and other support personnel.

    We are working to develop a virtual experience featuring selected content that was developed for the LAS and will communicate how to register for those sessions as soon as they are available.

    We are working to make sure we meet your professional development needs and will evaluate if we have to reschedule or change the format of future SOA events on a case-by-case basis.

    Please contact customerservice@soa.org with any questions.

International Professional Development Events
  • The SOA postponed the 2020 SOA China Symposium that was originally scheduled for May 28-29 in Shenzhen to August or September of this year. In the interim, the SOA is holding a series of virtual professional development for our members. The first webinar was held in partnership with the China Association of Actuaries on March 13 under the title "The Impact of the COVID-19 on the Life Insurance Industry and Insights on Valuation.” More sessions are being planned.
  • The SOA Asia-Pacific Annual Symposium that was scheduled to take place June 1-2 in Singapore has been rescheduled for September to November this year.

Please contact asiacustomerservice@soa.org with any questions.

Additional Resources and Information from the SOA

 

From the SOA President – COVID-19 Update for SOA Members and Candidates

SOA President Andrew Rallis, FSA, MAAA, provides an update about the measures the SOA is taking to ensure the safety of SOA members, candidates, volunteers, and staff in the face of the COVID-19 pandemic.

Research Department

The SOA Research Brief: Impact of COVID-19 page has been constructed to highlight some of the key features of the COVID-19 epidemic and contemplate the risks for the actuarial profession to consider in their work.

Reports

Podcasts

  • COVID-19 Overview of the U.S. Insurance Industry with NAIC CEO Mike Consedine. This special podcast explores how the COVID-19 pandemic is impacting actuaries and their interactions with U.S. insurance regulators. Mike Consedine, Chief Executive Officer of the National Association of Insurance Commissioners (NAIC) shares some insights into what regulators are prioritizing in the current environment.
  • Research Insights – Impact of COVID-19. March 19, 2020 Update. Listen to Max J. Rudolph FSA, CFA, CERA, MAAA, an independent actuary from Rudolph Financial Consulting, LLC and host and SOA Brief author R. Dale Hall discuss the SOA Research Brief: Impact of COVID-19, March 16, 2020 along with other current events surrounding the COVID-19 pandemic.

If you have comments or ideas on research regarding pandemics, please send them to research@soa.org.

Health Section
  • COVID-19: Updates on Impact. Quarantine, shortages, isolation, homeschooling, small businesses, group therapy, hugging, and more. This week Jackie Lee, FSA, MAAA has a follow up chat with Rebecca Owen, FSA, MAAA, FCA about the impact of COVID-19.
  • Jim Toole, FSA, MAAA, discuses SOA research he performed on the potential impact of a pandemic on the U.S. health insurance system, including issues with capacity and at-risk populations. He also offers ideas on how actuaries and their employers can partner and provide assistance to their communities, providers and others in the front lines in the podcast “Potential Impact of Pandemic Influenza on the U.S. Health Insurance Industry”

From the Enterprise Risk Management (ERM) Symposium
  • Impacts of COVID-19 Coronavirus – What are we Doing as Risk Managers? During a round table at the 2020 ERM Symposium that took place March 9-10 in Tampa, Fla., risk managers discussed the direct impact that COVID-19 could have on the Profit and Loss statement, plans for business continuity, the indirect impact with prolonged low interest rate and more.

Other Resources

 

U.S. Centers for Disease Control and Prevention – COVID-19 information

World Health Organization