Legal advice on the legislation process for a law regulating actuaries.

Despite the actuaries’ significant role in designing and pricing insurance policies, premiums and pension plans and assessing accounting transparency, currently there is no statutory regulatory framework regulating actuaries, unlike other professionals such as attorneys, accountants or patent attorneys. As actuaries are widely employed in insurance companies, public pension agencies and other financial institutions, adopting a comprehensive regime regulating actuaries is nothing short of necessary.

Lee & Ko’s insurance practice group has a deep roster of insurance professionals who have long participated in the legislation and revision processes for the Insurance Business Act over the past few decades. The group also has capabilities to deploy various attorneys, former civil servants and former national assemblymen with experience in the executive/legislative agencies, the Regulation Reform Committee and the national assembly to offer the clients solutions-driven advice and obtain optimal results on their behalf.

Advising clients on the enactment of a new law is a much more challenging task than advising on the revision of an existing law. Lee & Ko’s unmatched competence and vast experience in the field has received a wide recognition in the field, leading to the appointment to advise on the legislation process for a potential law regulating actuaries. Lee & Ko’s Insurance and Reinsurance Practice Group worked intimately with the firm’s legislative consulting team, harnessing a collective expertise of leading attorneys and experienced professionals to meet the client’s needs.