Description: This report presents the major findings from the eleventh annual Emerging Risks survey.

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

Description: The Chinese insurance market is grappling with product innovation, business growth and regulatory oversight as it tries to keep pace with a sharp growth in demand across product segments. In this context, the authors have highlighted insurance trends in China, based on available research and literature, with a particular focus on topics that will drive the enterprise risk management (ERM) function of insurance companies. ERM provides an opportunity for insurers to identify and mitigate potential insurance risks by enhancing their policies and risk management activities. This report explores the insurance trends in detail, drawing on findings from interviews of practitioners in the Chinese market, to provide context for the drivers of ERM transformation.

Description: A primer on extreme event modeling and mitigation for practitioners, it covers the complete cycle of extreme event risk management, from identifying experience data sources, to extreme event detection, to modeling and dependence analysis, and finally to monitoring and mitigation.

Description: This report presents the major findings from the 13th annual emerging risk survey.

Description: This paper presents the probabilistic concepts underlying measurement of asset adequacy in a simplified way. Discussions of this paper are included.

Description: This paper presents a method of testing second-order stochastic dominance of risks. This methodology allows risks to be partially ordered by value with available data - requiring only that the risks have yields distributed as one of the location-scale family of distributions and that the actuary can specify that family.

Description: This paper presents a model designed to help actuaries analyze and quantify C3 risk, which is the risk of loss due to changes in interest rates or the shape of the yield curve.

Description: For several years there has been discussion in the insurance industry of the need for additional capital sources to participate in insuring the financial risk posed by natural catastrophes. A number of methods for accessing the capital markets have been introduced and some insurers are using these to hedge exposure to catastrophe loss. This paper summarizes some of the discussion and describes some of the methods proposed. It then focuses on one of these methods, the use of catastrophe insurance options. Results of simulations are given which may serve as a guide to insurers interested in using these options as part of their risk management strategy and also as an indication to investors of the value of these instruments as a new component of an investment portfolio.

Description: A research project with the Society of Actuaries on interest rate hedging on traditional life and health insurance.