Description: This report aims to help actuaries and other interested parties to define the relative differences in managing risks between the insurance and banking industries. This report guides actuaries and others about change risk management practices to prevent future financial failures. The paper seeks to examine what factors account for the differences in the United States, compared with Canada about the underlying causes and effects of the most recent crisis with financial institutions.

Description: Enterprise risk management (ERM) is an orderly or guided conduct of an enterprise to deal with risks. For insurers, ERM requires full support and commitment of the senior management. ERM in the U.S. and Canada has evolved over the years into a complex ecosystem.

Description: Enterprise risk management (ERM) is an orderly or guided conduct of an enterprise to deal with risks. For insurers, ERM requires full support and commitment of the senior management. ERM in the U.S. and Canada has evolved over the years into a complex ecosystem.

Description: Enterprise risk management (ERM) is an orderly or guided conduct of an enterprise to deal with risks. For insurers, ERM requires full support and commitment of the senior management. ERM in the U.S. and Canada has evolved over the years into a complex ecosystem.

Description: Results of the PBITT Working Group annual Variable Annuity Survey.

Description: Easy access computing power is harnessed to approximate ruin probabilities. The dynamics of the traditional insurance model are stated in the form of period to period constraints. This allows the development of a life-table with the survival probabilities for a given set of parameters. Given the spreadsheet approach of the model, sensitivity analysis to study the impact of different parameter values and loss variable distributions can be easily implemented.

Description: Results of the PBITT Working Group annual Variable Annuity Survey.

Description: A primer on extreme event modeling and mitigation for practitioners, it covers the complete cycle of extreme event risk management, from identifying experience data sources, to extreme event detection, to modeling and dependence analysis, and finally to monitoring and mitigation.

Description: This report examines the use of a copula approach to build a predictive model to estimate the amount of economic capital a life insurance company needs to protect itself against an adverse movement in interest rates, mortality, and other risk drivers.

Description: This report looks at identifying drivers of systemic risk to China’s insurance industry and develops a measurement method for systemic risk as well as systemic risk dependence between the insurance industry and other industries.