Description: This presentation was made at the SOA 1975 New York Spring Meeting. It discusses new variables and uncertainties determining future reserve and surplus levels and operating expenses and profits, and how these issues should be addressed. 1975 Record, Vol. 1, No. 2.

Description: This paper suggests that Asian financial institution openly exhibit problems and attitudes that in other regions may be buried under the surface. Therefore, becoming familiar with Asian instituions can help risk professionals unearth problems that otherwise might remain hidden in our own territoriies. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: This paper outlines a risk measurement framework in which risk measures are derived by qualifying cash-flow-based risk measures on the state of the firm's debt capacity. This risk framework overcomes some of the weaknesses of the popular 'at-risk' framework. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: This paper measures the extent to which specific firms have implemented ERM programs and assesses the value implications of these programs. We find a positive relation between firm value and the use of ERM. The ERM premium is statistically and economically significant and approximately 17 percent of firm value.

Description: The purpose of this paper is to address key aspects of the risk/strategy/finance ERM implementation from both the theoretical and applied perspectives. The topics to be covered are: ERM overview including historical perspective, ERM implementation—focusing on strategy, finance and risk, and Case study of how one insurance and investment company approached the integration of a major risk type within the ERM framework, market risk, into the financial planning and reporting process. This paper will focus exclusively on the insurance industry.

Description: Enterprise risk management ERM is for the measurement and the management of all significant risks of the business holistically irrespective of types and sources. The study offers significant advances in the current debate on the performance of enterprise risk management, in particular, minimizing the existing gap between the academic understanding and practitioners’ experience on the topic.

Description: This paper investigates the interaction between a credit portfolio and another risk type, which can be thought of as market risk. We analytically calculate their inter-risk correlation and show how inter-risk correlation bounds can be derived.

Description: The intent of this paper is the analysis of the influence of risk that took place during winter and summer 2006 on economic results of utilities selling power to final customers. Efficient risk management requires the restructuring of the approach to company management. From 2007 Enterprise Risk Management Symposium, M-AS07-1.

Description: The author will show that risk management is more than combining several processes and methods it is much more a company wide approach that enables an open dealing with chances and risks, requiring a change in culture, governance and decision rules across the whole organizations.

Description: The paper focuses on value creation for European health insurance companies through the practical application of integrated ERM frameworks.