The Institute and Faculty of Actuaries (IFoA) invites your comments on proposals to withdraw GN30: Compensation for Professional Shortcomings and replace it with a new APS X5 and accompanying guidance. 

You can share your feedback by responding to this questionnaire.

The proposals are explained in the consultation paper which can be found here.

Unless you tell us that you would like your name and/or responses to remain confidential, they may be published in our feedback document. Anonymised responses will not be published. If you have any queries/concerns about the confidentiality of your response, please do let us know.  

If you consider that in reading this consultation paper and engaging in the consultation process you have benefitted from learning about the proposals to withdraw GN30 and introduce APS X5 and its accompanying Guide, you may claim up to one hour of private study CPD.   

Should you wish to, you can save your answers and return to them before submitting the completed questionnaire. 

Thank you for your time and interest.

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* 1. Name

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* 2. Position

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* 3. Region

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* 4. Are you a Member of the IFoA?

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* 5. If yes, which category of membership do you hold?

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* 6. If you are an Actuary, what is your main practice area? (Answer one option only)

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* 7. Do you want your name to retain confidential

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* 8. Do you want your comments to remain confidential?

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* 9. Name of your organisation (if applicable)

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* 10. Type of organisation (answer one option only)

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* 11. How many IFoA Members (if any) does your organisation employ?

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* 12. Do you want the name of your organisation to remain confidential?

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* 13. Do these comments represent your own personal views or your organisation's views?

The following questions are in relation to your/your organisation's views on the proposed withdrawal of GN30 and introduction of APS X5

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* 14. Do you agree with the proposal to withdraw GN30 and introduce a new APS in its place?

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* 15. Overall do you think that the requirements contained in the proposed APS X5 are relevant and appropriate?

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* 16. Do you think that Members' obligations under the proposed APS X5 are clearly set out?

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* 17. Do you agree that the scope of APS X5 is appropriate? (i.e that it should be limited to Members that are Principals in Organisations that provide actuarial work to external Clients)

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* 18. Do you think the key terms within the proposed APS X5 are sufficiently well defined? If no, which of these terms would you amend?

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* 19. Overall, do you agree that the proposed APS X5 is relevant and appropriate for Members working outside of the UK?

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* 20. Have you previously ever experienced any difficulty in procuring PII?

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* 21. Do you have any other comments on the requirements and provisions of the proposed APS X5?

Guide

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* 22. Do you agree with the proposal to introduce a Guide to accompany APS X5?

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* 23. Overall, do you consider that the Guide is relevant and helpful for Members?

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* 24. Overall, do you consider that the Guide is relevant and helpful for Members working outside of the UK?

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* 25. Do you have any suggestions for any additional topics or information that should be included in the Guide?

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* 26. Do you think it would be helpful to have any further guidance (in addition to the Guide) and/or training opportunities in this particular area? If so, what should this guidance/training include?

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* 27. Do you have any other comments or suggestions in relation to the Guide?

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* 28. Do you anticipate that there would be any practical or resource implications caused by the introduction of these proposals? If yes, what sort of implications do you anticipate?

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* 29. Do you have any other general comments or suggestions in relation to the proposals?

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