Description: This article discusses how the risk model, is an attempt to see the world in a much more realistic way.

Description: Article from Risk Management Newsletter, July 2005, Issue 5 highlight the credit risk survey results. During a three-week period last summer, the Credit Risk Listserv surveyed over 5,000 actuaries who are members of the Risk Management Section, the Investment Section and the Casualty Actuarial Society (CAS). Over 500 valid responses were received and tabulated by our long-standing vendor partner www.perfectsurveys.com (now www.SurveyZ.com). To put it mildly, the response was overwhelming (typical responses to a survey of professionals such as ourselves number no more than 250). I will share some of the highlights from the tabulations.

Description: This Chairperson's Corner article discusses the SOA becoming the pre-eminent risk management profession. The Chairman's message is that actuaries have the inside track on risk management positions in the insurance industry and have a basis for competing for similar positions in the broader financial services industry.

Description: Article from Risk Management, July 2006, issue 8 regarding the Enterprise Risk Management Task Force, which is organized under the AAA's Financial Reporting Committee and was created by the North American Actuarial Council, serves as the North American actuarial profession's hub for discussing research, educational and public policy initiatives relating to enterprise risk management, and seeks to develop work on ERM-related public policy issues that affect multiple areas of actuarial practice.

Description: This article describes an initiative of the Chief Risk Officer Forum to perform a study to benchmark internal models, so as to discuss the admissibility of these models for regulatory purposes in the context of Solvency II. The results of and reactions to that study are discussed.

Description: Note from the Council Corner providing an update to our JRMS members on recent / upcoming activities.

Description: The article provides an update on the 2019 ERM Symposium with regard to date, location and content (General Sessions and Concurrent Sessions).

Description: Note from Editor introducing the articles in this issue.

Description: Many ERM programs fail to include an active step of actual risk treatment and are therefore rightfully characterized as Entertainment Systems. Real ERM will use risk assessment to drive decisions about risk acceptance and risk mitigation. Entertainment systems use risk assessment to create reports and to hold discussions. No actions are taken often because ERM is not empowered to do anything.

Description: This article provides a very high level overview of accelerated underwriting programs and their history in the US marketplace. It then discusses setting up an actuarial control cycle for such products and some items related to risk management that are helpful in this setting. Pros and cons of retrospective studies, random holdouts, targeted holdouts and post issue analysis are discussed. A mathematical example of how to estimate the mortality impact of such programs from early emerging experience is provided.