Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This is the abstract of the referenced paper.

Description: This is the full research report for the thirteenth Emerging Risk Survey which summarizes the results of the survey.

Description: Political figures and journalists have tended to blame deregulation and greed for the credit crisis. However, we would like to suggest that these were not the primary cause of the credit crisis. The real cause of the crisis was faulty regulation and arrogance. Flawed regulation in the over-reliance on complicated capital models and arrogance in believing that the complex mathematical formula in risk models overcame the limitations on input availability and enabled companies to capture returns that were greater than the cost of capital, have led Wall Street by creating CDOs and similar instruments to repackage risks and take out the systematic excess risk charges as profits, and have also allowed companies to run “prudently” on leverage ratios that were in hindsight over the limit.

Description: The problem facing risk distributors is that product pricing is sticky, whereas the market price of risk can be quite volatile. This disconnection can become particularly severe during market downturns. The problem facing risk insurers is maintaining market share in benign market conditions when the market price of risk is low. Strategies that are dynamic with respect to time are difficult in practice, since they require more capital in volatile markets.

Description: This paper defines business risk as uncertainty that threatens the viability of the insurance organization including product features such as mortality or persistency, internal organization features such as expenses or staff retentionand external influences such as regulatory or legal actions. This paper provides an approach for measuring the financial impact of adverse variation of these factors on the organization.

Description: Chairperson's summary of Joint Risk Management Section (JRMS) Council accomplishments during the 2021-2022 Section Council year, as part of the December 2022 Risk Management newsletter. Includes an introduction to new council members, appreciation to those departing the Council, and introduces the new JRMS Council Leadership. Discusses the accomplishments made, areas of focus and activities underway which benefit JRMS Section members.

Description: Update of climate risk related governance and disclosure.

Description: Feature article that discusses how insurance and banking business models have continued to grow in complexity over the past 50 years—from simple and local risk exposures to the current environment of complex and global exposures

Description: This is an editorial article on risk management books.

Description: In this webcast, presenters will outline the key content in ERM ASOPs 46, 47 and 55 and explore the impact each ASOP has on practitioners working in these fields. We will also describe the revision work currently under way in the ERM Committee of the Actuarial Standards Board.