Description: A discussion about the increasing risks associated with the National Flood Insurance Program in the U.S., including discussion of its history as well as key issues associated with its continuation in its present form.

Description: The author summarizes certain presentations at the ERM II Systemic Risk Workshop. The key objective of the workshop was to develop recommendations that could serve as input to regulators, legislators and other policy makers in designing and implementing systemic risk regulation that can prevent future financial crises.

Description: The CRO Forum addresses this topic from an insurance industry perspective and will focus on the implications of the crisis on Enterprise Risk Management and regulation in the industry as a whole.

Description: This is the SOA website page displaying the table of contents for Risk Management: The Current Financial Crisis, Lessons Learned and Future Implications series of essays.

Description: In this article, the author discusses financial regulation and the financial crisis.

Description: Findings from EY Insurance Risk Management Team's 2016 (annual) Insurance Chief Risk Officer Survey.

Description: A collection of essays written on the current financial crisis, lessons learned and future implications.

Description: In this article, the author discusses the need to create a systemic risk regulator.

Description: The upside of the downturn is that these powerful, influential, connected and important, yet incompetent people can be removed from their positions. To quote a great insight of Ayn Rand: “There is no substitute for competence.”

Description: Increased attention was paid to regulatory capital with the global financial crisis in 2008. Whilst companies may not have the incentives to retain a large amount of capital in the absence of regulatory capital requirements, overcapitalized entities can have drawback such as its impact on competitiveness. There are other weaknesses in the regulatory capital model such as its limitation in facilitating risk-based decisions as regulatory capital does not necessarily reflect the economic reality and risks an entity faces. Nonetheless, there are ways for regulators and/or companies to handle the weaknesses in the regulatory capital model. For instance, granularity can be introduced in determining regulatory capital. Economic capital can be used to encourage entities to implement risk management controls and facilitate risk-based business decisions (e.g., risk-adjusted performance assessment and risk-based capital allocation). Ultimately, hav ing effective risk management and risk-based capital determination are ways to prevent company failures and bankruptcies.