IAI Actuarial Core Principles · Business Management · Characteristics of a profession and the Actuaries' Code

Rohan, an actuary, learns confidential pricing data about a client's product while advising it. A competing client asks him to use similar data to benchmark its own pricing. Which response best follows the Code's approach to confidentiality?

He should refuse to disclose the information unless the original client consents or a legal requirement compels disclosure. Confidentiality is a core duty under the Actuaries' Code, and anonymising without consent, a higher fee, or oral sharing does not remove that duty.

1. AShare the data because both clients are in the same industry
2. BShare the data only after anonymising the client's name, with no consent
3. CRefuse to disclose the confidential information unless the client consents or law requires itCorrect
4. DShare it if the competitor pays a higher fee
5. Share it verbally but not in writing