The SOA just released the new Fall 2019 ERM syllabus. The changes are noted below. There are no syllabus changes to the four extensions that TIA covers. There are ERM Core updates which are noted below. Additionally, please note the SOA added the following phrase to the syllabus: “Beginning with this administration, questions in both the core and the extension may be based on the case study.”
Please check out the first file in the TIA course (Fall 2019 Revision History and Scheduled Updates) to see our release schedule for new materials. We anticipate having all videos and detailed study guide materials ready by the end of May, and Section A is already updated – so you can get started right now!
The ERM Core syllabus updates are shown below:
ADD
1. ERM-133-19: Emerging Risks and Enterprise Risk Management, pp. 2-6
2. Embedding Cyber Risk in Risk Management: An Insurer’s Perspective
3. ERM-134-19: Group Insurance, Skwire, 2016, Ch. 39: Risk Based Capital Formulas
4. Risk Aggregation for Capital Requirements Using the Copula Technique, Risk Management, Mar 2005, pp. 11-13
5. Economic Scenario Generators: A Practical Guide, pp. 7-17 (Executive Summary)
MODIFY
1. ERM-119-14: Aggregation of risks and Allocation of capital (sections 4-7). A note was added to remove section 6.3.
DROP
1. ERM 602-12: Investment Management for Insurers, Babbel and Fabozzi, Ch. 11: The Four Faces of an Interest Model
2. ERM-501-12: Risk Based Capital–General Overview
3. ERM-117-14: AAA Practice Note: Insurance Enterprise Risk Management Practices (pp. 4-26)
4. ERM-125-15: Loss Models Further Topics, Klugman, Panjer and Wilmot, Ch. 10: Copula Models