Description: The Life Risk Based Capital Working Group of the NAIC asked for a recommended capital standard from the American Academy of Actuaries for variable annuity contracts with guarantees. In response, the Life Capital Adequacy Subcommittee’s C-3 Work Group the Work Group, chaired by Bob Brown, formulated an approach, which has been dubbed RBC C-3 Phase II.

Description: The focus of the essay is how to use regulatory requirements like ORSA to add competitive advantage. This is accomplished by leveraging the work done for regulators in a way that helps a firm make better decisions. Looking for concentrations of risk, model shortcomings and changing correlations are considered. Stress testing, counterparty risk and changing risk appetites are all topics that help the risk manager better understand the risks accepted. Finally, the paper suggests that the risk officer job should be split into a component that focuses on the process and risk mitigation techniques. The Chief Risk and Return Officer would reside in the strategic planning area and participate in strategic decision making for the firm. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: The author compares and contrasts methodologies used for value investing and enterprise risk management.

Description: Paper addresses what can be done in the event of a pandemic. Article from The Marketer, LIMRA International, Volume 13, November 1 2006

Description: From a session at the annual meeting of the Society of Actuaries held in Chicago, Illinois, October 15-18, 2000 Discussion of the Gramm-Leach-Bliley Financial Services Modernization Act - HR-10.

Description: From session 14TS at a meeting of the Society of Actuaries held in San Diego, CA, June 22-23, 2000. This teaching session discusses the available tools for communicating company risk postures to senior management. The focus is on tools that show distributions of results rather than a point estimate, along with stress testing.

Description: This is a research report describing the results of an Emerging Risks Survey that asked members of the International Network of Actuarial Risk Managers [INARM] about emerging risks that will have the greatest impact over the next few years. They were also asked by modeling techniques and future spending on risk management.

Description: Initiated by the Financial Reporting Section, this paper explores rising interest rates. Following this path, the paper will look at implications of interest rate changes for the life insurance industry, current stress testing practices, and how a risk manager can proactively prepare for an uncertain future. A paper published in 2014 focused on why rates could stay low, and some aspects of this paper are similar (e.g., description of insurance products). This paper also uses a sample model office to help practitioners look at their own exposures. It includes typical interest-sensitive insurance products and how they might perform across various scenarios, as well as a survey to establish current practices for how insurers are testing interest rate risk currently.

Description: SOA sponsored research tackled potential low-interest-rate scenarios. This article is based on findings in the report but does not mirror the report with regard to content as it looks at the interest rate impact on assets, liabilities and their interactions. Potential drivers of low rates are identified, along with risk management recommendations for insurers and regulators. These drivers include demographics, behavioral responses to the economy, environmental costs and changes to the economic landscape.

Description: 1999 SOA Spring Meeting, Atlanta. This session addressed the risks and potential costs of long-term guarantees in some insurance products. Topics included: · Guaranteed annuity purchase rates - how close are current rates to the guarantees? · Guaranteed minimum credited rates. · Guaranteed bonus rates.