Description: For the purposes of risk management and stress testing, we characterize a spectrum of plausible extreme events, that we dub Grey Swans, by introducing a probabilistic method involving the concentration of measure phenomenon. As a result, stress tests can be triaged according to severity, probability and, now, information-based plausibility.

Description: This article discusses incentive compensation metrics set to motivate performance, retain people, satisfy legal constraints and Say-on-pay and promote good risk management. Alignment discussion between actual metrics characteristics and the behavior they promote.

Description: This article advocates for a lower variable part in salary and increase focus on other mechanisms (goal setting, simpler product, management, culture and processes). The psychological aspect of belonging to the incentive compensation pool is more important that the financial aspect.

Description: This essay advocates for the consideration of risk in an interdisciplinary framework. An "effective resilience" metric is introduced as a way to reflect an organization's exposure and response to an adverse event, and to measure the ability of the organization to mitigate and recover from the resulting reduction in its operating level. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Response to David Kausch’s comments on the paper.

Description: Performance measurement is not the primary purpose of either GAAP or statutory accounting. This article discusses alternative methods of reporting used by life insurance companies to better measure financial performance.

Description: While intended to assist health plan actuaries responsible for stress testing and ORSA filings, this session will also be informative for actuaries interested in communicating the impact of potential catastrophic events for health plans to their management and board. It will begin with a discussion of event thresholds for stress tests and their impact on capital and financial statements. Presenters will take a detailed look at several catastrophic event case studies (historical and hypothetical) in the following areas: healthcare specific (e.g. pandemic, specialty Rx), financial institution/credit market, operational/business, strategic and multi-event scenarios.</

Description: This presentation is an open forum, session number 8OF, from the 1999 Valuation Actuary Symposium, held September 23-24 in Los Angeles. The panelists explore risk quantification from multiple perspectives, including: value-at-risk techniques and their application in the financial services industry, internal risk-based surplus formulas, and an NAIC Risk-Based Capital [RBC] Update. They discuss the application of existing and emerging risk evaluation techniques to one’s company or client circumstances. Discussion from participants is included.

Description: Panelists report on the status of activities by national associations in regard to risk-based capital requirements for health insurers. From the Record of the Society of Actuaries, Vol. 24, No. 2.

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