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: Background on, and best practices guidelines for dealing with, bid reviews and audits for Medicare Advantage plans.

Description: CAE applying for UEC must demonstrate that skills related to AQ and EQ are appropriately incorporated and assessed across the program and that all degree-seeking students have access to those components. For each of the four learning objective areas in the worksheet, universities will provide a narrative that indicates what skills are incorporated into the program, the course(s) and/or program activities where the skills are learned, and a description of how students learn the skills indicated. See the UEC Guidance on AQ and EQ Education for additional information and examples.

Description: This article discusses two perspectives covering the experience of attending and presenting at in-person conferences after COVID-19. It also briefly covers the value of attending conferences, volunteering, and networking.

Description: This article addresses challenges that arise later on in retirement years related to support systems, physical needs, and living arrangements. It highlights the "Late-in-Life Decisions Guide" published by the Society of Actuaries in 2022.

Description: Welcome to the May edition of The Financial Reporter! In her “Chairperson's Corner”, Joy Zhang highlights the section's upcoming activities for the year and ways for everyone to get engaged.

Description: The author shares their experiences and timeline in building an actuarial science program from scratch and reaching the Advanced Curriculum level

Description: Patrick Ring chaired the Retirement Section Council’s (RSC) Communication Committee for many years before stepping down earlier this year. Learn more about his insights on the RSC Communication Committee's work.

Description: Discusses the Validation by Education Experience and how to achieve credit.

Description: The Canadian Institute of Actuaries CIA–also known by its French name l'Institut Canadien des Actuaries l'ICA, with the bilingual logo on the right–has improved continuing professional development CPD for its members by strengthening the requirements, improving tracking and providing additional resources.