Description: Discussion of Living to 100 Session 5A. The papers presented propose a new method to price the longevity risk premia in order to tackle the pricing obstacle and reviewed the insurance industry implications on retirement planning and the secondary market in insurance.

Description: This paper focuses on business risks rather than market, credit and operational risks. The author proposes a bottom-up approach for modelling and measuring business risk where the dynamic of the underlying earnings is described in a continuous-time model.

Description: This paper explains the development of the credit derivative market, describes the most common types of credit derivatives, discusses how insurers can and do use these instruments and explains the role they played in the financial market turmoil of 2008.

Description: This paper looks at the problem of valuing and managing the ALM risks associated with insurance liabilities that are too long to be matched by available investments. Two options were explored and the paper concludes by arguing that the Static Control Model leads to more useful ALM strategies for long liabilities.

Description: This paper addresses the issue of the manner in which financial resources are measured within government budgets, how this measurement of resources might affect public budget decisions, and how the interaction of the budget with the actuarial model can lead public budge managers to engage in financially damaging transactions such as pension obligation bonds.

Description: 2011 Enterprise Risk Management Symposium, Chicago. The authors' stated proposal is to keep formal compliance Key Performance Indicators to support Risk Management system implementation and to have a business plan based on risk assessment.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This presentation discusses how real world Grey Swan scenarios are excellent choices for stress and resiliency testing. In addition, an example is provided of a set of Grey Swan scenarios which correspond to the RBC C-3, Phase II.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. The stated purpose of this paper is to consider whether a more comprehensive and timely measurement framework for risk exposure is now needed and to examine one possible approach. This paper proposes a new approach to risk measurement that, along with capital measurement and more rigorous oversight, will allow banks an ability to manage risk.

Description: 2011 Enterprise Risk Management Symposium, Chicago. This is the abstract of the referenced paper.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This paper reviews a risk management theory that deals with correlated, non-normally distributed factors, and then applies risk management techniques to the U.S. steel industry using futures contract hedging.