Description: The article is based on a study of causes of insolvency and decisions made by management, regulators, and policyholders over the life cycle of the insolvency.

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

Description: Essays advocating for incentive compensation linked to the level of risk in an organization.

Description: Here are a few topics to be discussed in this article: Risk is opportunity; Strategic and business risks are not captured in models; Incentive compensation should not be paid too soon; Enterprise risk management is board responsibility, ERM is compliance.

Description: This article discusses pointing out flaws in Incentive Compensation program using short term financial metrics like Total Shareholder Return may miss non-short term financial risk and non-financial risks.

Description: Article describing key steps to develop an incentive compensation plan that aligns to the company’s risk profile, mitigate excessive risk taking, retain talent and meet the disclosure requirements. The yearly development cycle includes develop the incentive compensation program, communicate and implement and assess the plan performance on both short and long term horizon.

Description: Description of considerations and perspectives to be taken into account by incentive compensation plans.

Description: This article provides an overview of the evolution and rationale for Own Risk Solvency Assessment (ORSA), as well as practical implications for insurers as they begin to design an ORSA process.

Description: Comments on Robert North’s paper, a real case study of disclosing MVL in a public employee retirement system.

Description: Increasing uncertainties and volatility in financial as well as real goods markets increasingly reveal that controlling systems based on deterministic and pseudo-exact values are insufficiently eligible to manage the business activities. This raises the question how management systems can be modified to generate the adequate management impulses in volatile periods. Risk management deals from identifying, evaluating and aggregating chances and risks, which again determine the potential fluctuation range of relevant performance indicators. Everyday corporate life shows that risk management is considered important; but the corresponding processes to identify, evaluate and report chances and risks are seldom part of established decision criteria. This “paradox” lets assume that risks are managed in various differing and unsystematic ways. The combination of traditional controlling methods and risk management is not primarily a methodological challenge. The behavior of the whole organization, practiced over a long-year period, has to be transferred into a new corporate culture of transparent dealing with chances and risks. This paper describes the necessary change management process, which has to come along with necessary methodological modifications.