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07

Letter: Risk management for events

Open-access content Monday 4th July 2016 — updated 5.50pm, Wednesday 29th April 2020

At a recent “fully booked” IFoA meeting I counted 40 empty seats, and this is not, I believe, unusual.


At a recent "fully booked" IFoA meeting I counted 40 empty seats, and this is not, I believe, unusual. I know that this is caused by members booking and then not turning up, but, given that this is a regular feature, could a solution not be found? One that suggests itself would be for the IFoA to keep track of the number of no-shows, fit a distribution, set a risk tolerance for turning folk away (1 in 200 springs to mind, I don't know why) and then over-book accordingly.

Maybe there is a profession that has the skills to do that.

Tony Jeffery

12 June 2016


This article appeared in our July 2016 issue of The Actuary.
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