Enhanced Professional Practices

Actuarial Work-Products, Inc. believes that it was obligatory for it to (a) honor our trade and commerce laws (and clarifying Supreme Court decisions) and create and offer a better and cheaper service and do so fairly and also (b) honor the letter and spirit of the professional rules and guides of the American Academy of Actuaries.  The study and research given to these dual directives convinced us that in every way obligations are consistent and complementary.  Critical to this logic was the conclusion that the (a) meeting the fairness doctrine of the trade and commerce laws would necessarily result  in meeting the (b) professional standards of the Actuaries; and vice versa.

Even so, against the back drop of the previous paragraph, certain issues should be discussed:

1. The practice of offering work-products (structured format for input and output)
for a pre-determined fee is of long duration and needs no discussion.

2. Computer-prepared work-products is a practice of long duration and needs no

3. All work-products (with an inked or facsimile signature) will be under the direct
control and supervision of the Actuary.  If the Actuary and the Eligible User
agree that a facsimile signature is acceptable, the agreement will stand subject
there being no other objection (regulatory, accounting, end-user preference, e.g.       
Otherwise, an inked signature is required.  The facsimile, apposed to the inked,
signature will not lesson the legal or professional obligations of the Actuary.

4. As may be agreed to by the Actuary and  Eligible User, data may be entered by
(a) the Actuary in which event the Actuary is obligated to both review (but not
audit) the data and stand behind its work as a professional liability matter or (b)
by the Eligible User in which event the Actuary is  obligated to review only
if an inked signature is required.

5. Of compelling importance to Actuarial Work-Products, Inc. is the need to at
least make an attempt at meeting both obligations. Ignoring the available
technological advances will not benefit anyone in the long run.