Description: The article discusses how strategic planning and strategic risk management are intertwined.

Description: The CIA, SOA and Joint Risk Management Section of the CAS, CIA, and the SOA sponsored a whitepaper on the application of ERM at a federal government level.

Description: As sponsored by the Canadian Institute of Actuaries (CIA), Casualty Actuarial Society (CAS), and Society of Actuaries (SOA), the study looks at causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency. Further, this study considers ways the profession can be equipped to prevent or mitigate future insolvencies. In addition to directly benefitting the profession, the work is also intended to assist other insurance industry practitioners in understanding the complexities of insurance company solvency and the benefit of keeping the actuarial profession in the forefront of company management, operations, and regulatory communication

Description: This article provides an overview of the commonly used structural credit risk modeling approach that is less familiar to the actuarial community.

Description: 1997 Valuation Actuary Symposium, Session 17 discusses market value measures and its uses in asset liability management.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This paper reviews a risk management theory that deals with correlated, non-normally distributed factors, and then applies risk management techniques to the U.S. steel industry using futures contract hedging.

Description: This session discussion is about methods for determining and adjusting contingency surplus. From Record of the Society of Actuaries Vol. 15, No. 2.

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: This article describes how insurers can expand the reach of their efforts with regard to Economic Capital EC into the broader enterprise risk management process. Some experts contend that can be done by shifting the focus towards value. EC has the potential to shed new light on valuable opportunities for insurers.

Description: This is the full research report for the thirteenth Emerging Risk Survey which summarizes the results of the survey.