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.

Description: From a session at the 2000 Valuation Actuary Symposium held in Washington DC, September 14-15, 2000 Panelists use recent transactions and examples to demonstrate various operational, financial reporting and strategic aspects of insurance company mergers.