Description: This article discusses market declines and the impact that white collar crime or gross dishonesty in financial reporting can have on market declines.

Description: Feature article describing how traditional pension asset allocations contain so much risk that the details of the “liability benchmark” have been largely ignored.

Description: This is the second part of a 2 part series on Real options analysis (ROA). This article looks into the limitations of using financial option theory when doing real options analysis with projects that are long-dated and uncertain, such as: 1. First-degree homogeneity, 2. Uncertainty must derive from Brownian motion, and 3. Risk neutrality.

Description: GDP growth has slowed as numerous headwinds have emerged. This article summarizes a research paper by Mark Alberts and Max Rudolph that addresses reasons why this is so and how risk managers can address using scenarios.

Description: Against a background of recent capital market downturns, this article discusses the need for increasing the focus on risk control with respect to variable annuity and life products. This article originally appeared in the September 14, 1998 issue of The National Underwriter, a publication of the National Underwriter Company, and is reprinted here with permission.

Description: Argues renewable energy will displace fossil fuels, leading to investment opportunities and risks

Description: The article reviews recent investment performance of stable value compared to other low risk alternatives, discusses current criticisms of the option, and concludes that they are not well founded. Criticism reflects a lack of openness to the full range of stable value contracts available and manager bias against traditional GICs, not a real lack of wrap capacity. Stable value continues to be the pareto superior low risk option.

Description: Discussion of significant anomalies in option pricing due to the independent identically distributed assumption of the Black Scholes formula.

Description: After a very challenging year, actuaries need to look back and consider the lessons learned. Have we returned to where we were, or have we moved on to a new norm? What does the COVID-19 pandemic market data tell us that will help us to prepare for future global crises?

Description: Explains theoretical and empirical shortcomings of asset allocation rules that compare the earnings yield on stocks to the nominal yields on Treasuries.