Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: The abstract on the paper Extending ERM to Multi-Employer Pension Plans.

Description: This abstract describes a paper that investigates model uncertainty arising from different ways of treating the operational loss data collection threshold.

Description: Abstract: This paper examines the potential impact of increasing negative commentary by social media users in multiple forums, which can erode the “reputation capital” of a utility. It also offers an approach for successfully addressing that risk and integrating social media risk management practices into existing utility enterprise risk management (ERM) programs.

Description: This abstract describes a paper that studies the probability of a systemic event occurring within a financial network.

Description: This abstract describes a paper that supplements actuarial literature in which probability distributions have been proposed, by adding the log-folded-normal and log-folded-t families.

Description: This abstract describes a presentation that focuses on the mathematical underpinnings associated with the process of discounting future cash flows.

Description: This abstract describes a paper that reviews earlier research and identifies the major factors affecting the use of futures hedging by commodity producers.