Description: The roots of the crisis are understood on a simplified basis, by 3 Ls: a Lack of accountability b Leverage and c Liquidity. Historically, people requiring mortgages sought their mortgages from local institutions that would conduct the evaluation and hold the risk. Loan officers of these institutions were accountable for the outcomes of their decisions – defaults were a direct reflection on their judgment. Leverage was a second key factor. Institutions guaranteed mortgages against default. The third L, liquidity, because a problem. When property values eventually evidenced their inevitable fall, defaults occurred at historically high rates.

Description: The article is authored by the chair of the Joint Risk Management Section and provides an update of recent changes relevant to members of the council, as well as interested non-members.

Description: Have you been impacted by a wildfire? A flood, maybe? If so, you know that climate change may impact on our health, our property, and, sometimes, our very lives. But do you know how it impacts your day-to-work? In this webinar, the speaker describes key climate risks actuaries need to be aware of and discusses available SOA research on climate change.

Description: An attorney and a statistician will discuss the latest on GenAI, the AI regulation and litigation affecting the use of AI in insurance.

Description: This report provides a resource guide for asset-liability management practitioners, including methodology reviews, a survey of ALM practices, and guidance for applying ALM questions to real-world situations.

Description: Report summarizing the results of the 2019 PBITT UL with Secondary Guarantees Survey.