Description: The new ways of calculating capital requirements are relatively untested. We may be witnessing the results of such a test today. As of this writing, the global economy is almost surely entering a serious recession. One of the reasons for this appears to be inadequate capital provisioning. The failure of capital regimes to protect financial entities and, by extension, their customers has had unfortunate effects on the markets and economies of the world.

Description: Three drivers that are often not at the top of lists about the origins of the crisis: a At some level, every entity that handles risks should be assessing what would happen if they ended up owning the risk that they thought they would only have temporarily b The change in the real estate market that was driven by the non-marginal amount of new subprime buyers who came into the market and c Risk managers should always be aware that marginal analysis can produce incorrect results.

Description: Many call this the sub-prime crisis, but risky mortgages were simply symptomatic of the underlying excesses building through the financial system. Investors, government, lenders and borrowers were all at fault. Where did the skeptics go?

Description: Financial crises are nothing new. What is unique and sobering is the far greater speed with which the current situation has evolved from a weakening of the U.S. housing market into a full-blown, global economic meltdown. Also new this time is how quickly the fallout spread beyond the financial sector into all areas of the economy. Advanced communications and information technologies are creating an era of greater risk with more serious and far-reaching consequences when compared with even the recent past.

Description: Provides data including a special survey of elder orphans, lays out issues and offers ideas for solutions. Describes types of need for health care support.

Description: The article offers a more nuanced approach to caregiving as the population ages, suggesting our current focus on planning leaves out most people. Instead find solutions for non-planners!

Description: This is one of eight essays from the collection: 2020 Living to 100 Essays.

Description: An essay received in response to the Committee on Post Retirement Needs and Risks Call for Essays exploring ideas and thoughts on working in retirement and phased retirement programs.

Description: The essay describes an application of “Do Jumps Matter in the Long Term? A Tale of Two Horizons,” by Jean-François Bégin and Mathieu Boudreault, published in the North American Actuarial Journal online Jan 5, 2021

Description: The present crisis in global financial markets has created an impression that enterprise risk management ERM has failed broadly to protect the safety and soundness of the financial system as well as that of many institutions, including insurance companies.