Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: Combinations of risks are an important component of the Survey of Emerging Risks, now in its 15th iteration. Also known as risk clusters or compound risks, the most popular in the survey define threat multipliers, where a risk makes other risks worse. The top risks chosen are trended for the last 10 years, showing interesting cycles and discontinuities.

Description: In this article, the author gives an overview a number of Enterprise Risk Management ERM issues that arise when one considers the impact of income tax on a fair value accounting system.

Description: As one highly rated financial firm after another blows up, what is the right conclusion to draw about enterprise risk management ERM? Does the financial crisis of 2008-09 demonstrate its criticality, or does it bring the whole concept into disrepute?

Description: The CRO Forum addresses this topic from an insurance industry perspective and will focus on the implications of the crisis on Enterprise Risk Management and regulation in the industry as a whole.

Description: This article holistically places ratemaking into its proper risk context and connects the diverse operations that have impact on ratemaking as well.

Description: This paper evaluates the current practice of operational risk management in the insurance sector. Operational risk is nothing new in insurance, but, because of regulatory requirements, companies have initiated computation of risk capital for their operational losses. The current effort to manage operational risk is not a naturally evolving phenomenon, and operational risk, in the Basel Committee on Banking Supervision’s Basel II definition, is unlikely to be a significant cause of insurers’ failure. In addition, the current Basel II definition of operational risk is not suitable for the insurance sector. Consequently, the invention of models and tools based on the definition is incomplete and illusionary. My findings are based on the analysis of dozens of interviews with insurance industry professionals. I demonstrate the way operational risk is quantified in practice, show that the result obtained from this computation is of littl e use in managerial decision making and propose a set of policy recommendations illustrating the characteristics of operational risk in insurance. This study can be used as a platform for launching dialogues to initiate fresh thinking about operational risk in insurance beyond the current artificial and narrow boundaries.

Description: How adopting a risk champion model can help insurance companies, create a clear distinction between the first line and the second line of defense and ensure proactivity in identifying and addressing risk

Description: The Joint Risk Management Section chairperson discusses the makeup of the new section council and the ERM symposium.

Description: The Joint Risk Management Section conducted its fourth survey of emerging risks in fall 2010 in light of the BP oil spill which brought the impact of various risk combinations to the fore.