Description: This article discusses challenges in achieving ERM stakeholder buy- in and ways to improve stakeholder engagement.

Description: The 1st in an on-going series of candid conversations with Chief Risk Officers on the critical issues facing the insurance industry.

Description: Read the Joint Risk Management Section, Issue 44, May 2019.

Description: Read the September 2020 issue of Risk Management published by the Joint Risk Management section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This articles describes some of the industry issues that new-generation risk modeling technologies can address and the emerging technology of simultion as it applies to risk modeling.

Description: This article discusses how to find the right Enterprise Risk Management strategy for a company. The authors assert that ERM effectiveness ultimately resides with people through collaboration, wisdom and judgment.

Description: Sometimes, rare things happen and the least expected occurs. Indeed, some events occur once or twice in a lifetime leaving little room to learn from experiences. In financial markets, extreme events, no matter how rare, could have a profound impact on a company or even the whole country. Insurers are also not free from the impact of catastrophic large-scale extreme events. As a result, with pervasive economic and financial revolutions sweeping our world and potential devastative catastrophes, the increasing interest in tail risk management is fuelled by practical issues, including investment downside risk and insurance catastrophe risk. Thus, developing statistical techniques to model extreme investment and insurance losses is certainly a major task for risk managers. the purpose of our paper is to apply moment methods to estimate the joint events such as concurrent extreme investment loss and insurance loss. A novel aspect of this article is that it takes into account the correlation between different assets and insurance lines of business.

Description: Because of the growing significance of Enterprise Risk Management, it is critical to consider how ERM responds and relates to circumstances and conditions. In particular, one megatrend currently impacting our world and our understanding of the economy is the emergence of a behavioral economics perspective. This paper describes the nature of behavioral economics, and considers the potential impact of such a perspective on ERM. From Actuarial Research Clearing House, 2012, Vol. 1.

Description: This abstract describes a presentation that gives examples of more successful and less successful communications from the author’s research experience in actuarial risk management.