DEFINITION of 'Casualty Actuarial Society - CAS'
The Casualty Actuarial Society (CAS) is a professional society of actuaries, and the accrediting body for the Associate of the Casualty Actuarial Society (ACAS) designation and the Fellow of the Casualty Actuarial Society (FCAS) designation.
The CAS requires all candidates to qualify through a serious of rigorous actuarial exams, covering all aspects of actuarial practice including mathematics, finance, economic, insurance, enterprise risk management and actuarial science.
Successful completion of (or credit for) Exams one through seven and attendance at the CAS Course on Professionalism satisfy the education requirements for associateship. Satisfactory completion of (or credit for) all nine exams is required for fellowship, the highest distinction a member can receive.
BREAKING DOWN 'Casualty Actuarial Society - CAS'
As of 2009, more than 5,142 members of the CAS were employed by reinsurance companies, insurance companies, educational institutions, insurance brokers, state insurance departments, rate making organizations, non-traditional employers, independent consulting firms and the federal government.