Description: Summary of recent SOA-sponsored research on Enterprise Risk Management practices as applied to health insurers, self-insured plans, and health finance professionals.

Description: Comments about new Brazilian reinsurance rules, with brief historical summary of the regulation developments since the opening of the Brazilian reinsurance market.

Description: The essay briefly discussed the impacts from implementing ORSA to the main stakeholders in the insurance industry. Those stakeholders include: insurers, regulators, policyholders, investors, rating agencies, insurance industry employees and general public. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: This section presents and summarizes major insurance-related legal cases of 1957, including a case regarding interpretation of the Soldiers' and Sailors' Civil Relief Act of 1940 with amendments, FIT deduction of group disability benefits, FTC jurisdiction over advertising, group life employee ineligibility and incontestable clause, date of reinstatement, and claims issues.

Description: The National Association of Insurance Commissioners (NAIC) is moving forward to implement a new regulatory requirement that requires U.S. insurers to perform an Own Risk and Solvency Assessment (ORSA). Before developing a response to the ORSA requirement, insurers will want to understand its genesis and the underlying rationale for it, as well as its implications. This essay provides an overview of the evolution and rationale for ORSA, as well as practical implications for insurers as they begin to design an ORSA process. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: A comprehensive approach for risk appetite, with enterprise level limits and tolerances, a monitoring system, and cascading to the line level when appropriate.

Description: This article describes the allocation of FATCA withholding risk in cross-border reinsurance arrangements and discusses practical considerations in regards to the drafting of those agreements.

Description: Presented at October 1996 Annual Meeting. This panel reviews recent litigation, antitrust laws, advertising regulations, and sales illustration regulations.

Description: Many top-performing businesses aren’t just risk aware, but rather risk intelligent. Such a posture helps prepare companies for a major event and can demonstrate to a regulator or auditor that an appropriately strong control framework is in place. Better still, companies gain real strategic value from a “risk adjusted” understanding not only of their threats and vulnerabilities, but also the upside opportunities associated with various risks. It starts with having both qualitative and quantitative information to identify, assess and manage risks. Strategic risk management, at its core, is about creating value by increasing transparency and accountability, and quality of information. More than a mere compliance exercise, effective risk management enables more informed strategic decision making, increased accountability and transparency, a greater likelihood of organizational success, and – ultimately – competitive advantage, as borne out by many studies that correlate risk management and financial results.

Description: This presentation, session number 97CS, took place at the 1999 Spring Meeting of the Society of Actuaries, held May 24-25 in Atlanta. Using a fictional case study of a class action market conduct related suit against a life insurance company, the presenters discuss the role of the actuary in identifying the problem, quantifying the exposure, and determining the financial consequences of any proposed settlement. Discussion from participants is included. From the Record of the Society of Actuaries, Vol. 25, No. 1.