Description: Credit ratings have played an essential role in the financial system and have been used extensively by market participants. Despite their wide use in the financial services industry, they are actually insufficient for pricing and risk management of fixed income securities.

Description: The editors provide highlights of the articles included in the August 2015 issue of Risk Management.

Description: This report reviews the academic literature on risk aggregation and diversification as well as the regulatory approaches. We will point out the advantages and disadvantages of the different approaches with a focus on model risk issues.

Description: Is Risk/Return a sound tool for decision-making? No. It is not consistent, not objective, distorts decision and degrades governance. Why? What shall we do then?

Description: In this article, the author examines the black holes that arise every day in the form of pressures such as: competitive, top line growth, staff expertise, and regulatory to name a few.

Description: List of recent publications that may be of interest to readers of Risk Management newsletter.

Description: A response to the comments on the paper.

Description: A proposal to draft model legislation focused on getting adequate funding for public pension plans.

Description: Research report describing the results of an Emerging Risks Survey conducted in 2013. The report includes comparisons to the five previous surveys as well as a survey sent to INARM members in April 2008.

Description: This is the inventory part of the report from the research project that reviewed and inventoried the range of quality and efficiency measures currently available for healthcare. The goal was to outline key areas of quality and efficiency measurement and identify future opportunities for actuaries. The inventory lists the resources and provides brief descriptions of their services with links.