Description: Article from Risk Management Newsletter, March 2006, No. 7 on Standard & Poor's Enterprise Risk Management evaluation of insurers. In October 2005, Standard & Poor’s Ratings Services announced a new addition to the analysis process that leads to the ratings of insurers: Enterprise Risk Management ERM evaluation criteria.

Description: In this issue, we’re pleased to share with our members some recent nice activities and initiatives of AFIR- ERM on the risk management space. Please fi nd useful information in the article below from Michael Sherris, Chairman of AFIR- ERM Section.

Description: European insurance regulation pretends to capture and rely on the 1-year 1-in-200 VaR. But there cannot exist any scientific calibration of such measure. Why?

Description: Information on the JRMS e-Library.

Description: We can do a better job of communicating the degree of "riskiness" that is inherent in our models of risk. The "Coefficient of Risk" is one way to present fatness of model tails in simple terms using widely understood basic concepts.

Description: Highlight of the ERM Symposium

Description: A framework to measure and evaluate the risk-adjusted investment performance given the characteristics of the insurance liability.

Description: ERM may exist in name only without a risk-aware culture. The article uses battle-tested approaches & behavioral insights to drive change and embed risk culture.

Description: Most reasonable risk mitigation strategies provide benefit in some circumstances, but come at a cost that adversely affects results in other scenarios. A research paper by the authors considers the view of multiple stakeholders to answer this question, resulting in a process they call Trifurcation.

Description: Risk Magnification does exist and needs to be considered in the risk aggregation and risk management processes.