By Hilary Salt D ISCUSSIONS ABOUT RISK ARE EVERYWHERE AROUND US. As measurers and managers of risk, this should be good news for actuaries—more work for us, more opportunities in areas outside our traditional fields, and greater social recognition. But I believe there are some clear dangers for our profession
and for society more widely in the new attitude toward risk—dangers that to date we as a
profession have not only failed to recognize but have to some degree encouraged.
I’m going to do this from my own narrow experience in the field of advising U.K.
defined benefit pension plans. But as recent elections have perhaps reminded us, there are
some interesting similarities in experiences on both sides of the Atlantic. So I hope some
points raised here will resonate with actuaries across the globe.
IS NOT A
FOUR-LE T TER