Description: Argues that the suppression or mitigation of small and intermediate economic collapses means that much bigger collapses will occur instead.

Description: Lessons learned in the financial crisis - global ramifications and need for better financial reporting standards and market oversight.

Description: The actuary’s key role in the ORSA process should be to quantify the uncertainty surrounding the future financial results of the firm. By providing relevant standardized reports that clarify the uncertainty in terms easily understood by all stakeholders, the actuary will provide an essential element in the ORSA process. The dictum, "You can't manage what you can't measure." demonstrates the need to quantify risk, not just describe it qualitatively. While the ability to provide firm estimates of aggregate risk for complex organizations may not exist currently, doing so should be a target for the profession. The end result will be to enhance the financial security of the insurance industry at a time when all financial institutions are facing stakeholders skeptical about their financial condition. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Describes some of the challenges to be overcome in United States regulation of systemic risk. Argues that actuarial contributions can significantly accelerate progress in systemic risk regulation.