Description: Newly released spring 2019 data added to the Actuaries Climate Index show that more frequent extreme weather and increases in sea level continue to push the index upward. The ACI’s five-year moving average now stands at 1.16, up from 1.12 last quarter.

Description: In this article, the section chairperson talks about the importance of actively promoting actuarial skills and value to lead the evolution of risk management.

Description: In this article, the Editor talks about the changes to the newsletter and discusses prizes available for articles.

Description: In this article, the author examines Nassim Taleb’s work and writings and discusses its relevance to the future of the actuarial profession.

Description: This article provides some insights in how to bring risk management into product development for VA guarantees.

Description: Feature article discussing the four main perspectives of ERM.

Description: The US life insurance industry is just beginning to talk about risk management best practices. This article discusses the practices that have evolved in other industries by those before.

Description: This article is an overview of the presentations made at the Advanced Risk Management Seminar. Some topics were 1 the importance of enterprise risk management 2 how policyholder behavior affects the risks of GMBD riders and 3 credit risk.

Description: This paper describes the intent and selection process for papers to be presented at the annual ERM Symposium. From 2006 Enterprise risk Management Symposium, M-AS06-1.

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.