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

Description: Feature article that discusses the importance of developing a risk tolerance statement.

Description: Highlight of the ERM Symposium

Description: Feature article describing the different types of risk cultures companies can have.

Description: The selection of the economic capital calculation approach becomes more of a modeling decision. Now let us pause here and think about the arbitrage-free assumption at the beginning. At any time, there can be only one price on any asset. If the company considers the price calculated above as the fair price for its products, then it must hold true that the same price has to be arrived at if the company uses a real-world pricing approach instead of a risk-neutral approach. This gives us a very good basis to calibrate the appro- priate economic capital.

Description: Feature article discussing the IASB’s and FASB’s introduction of the use of other comprehensive income (OCI) to report certain changes in the value of insurance contracts.

Description: In the June 2014 issue of Product Matters, Doug Robbins of Pacific Life authored a fascinating article entitled “Velocity of Diversification.” Therein, he proposed a pricing measure that describes the “…speed at which confidence in profitability is attained”. How can stochastic modeling of mortality be applied to analyze the velocity of diversification, and how would that measure be affected by volatility in the underlying assumptions?

Description: Insurers can leverage information from their required Own Risk Solvency Assessment (ORSA) and use it internally to improve the likelihood of solvency and gain a competitive advantage.

Description: Complete issue of the August 2014 Risk Management newsletter.

Description: Statistics were invented to describe heterogeneity and are now applied to tackle alea. It may not be appropriate. Let's clarify their field of relevance.