Description: The ORSA should be more than a compliance requirement -- its process should be an integral element of a company's governance and risk and strategic planning process used by both management and the board on a regular feedback loop basis. Similar to that used for ERM, it along with a carefully constructed set of metrics should serve as the springboard to be used to identify, control and mitigate short- and long-term risks, as well as to enable exploitation of opportunities to add shareholder and policyholder value. Risk can represent an opportunity from which insurers can leverage their knowledge and risk management capabilities to find and maintain a competitive edge. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: Metadata for entire issue

Description: A dicussion of the Rate Classification Actuarial Standard of Practice, ASOP #12: its purpose, its scope, guidance, and examples.

Description: Based on interviews with C-level executives, this report offers insights on the role and actions of the global insurance industry in addressing climate change

Description: View the complete issue for the August 2014 Reinsurance News newsletter.

Description: Presentation from the 2006 41st Actuarial Research Conference focusing on the declining usage of expert opinions in the actuarial profession.

Description: Asset Adequacy Analysis for the Long-Term Care Product: A Case Study by Amy Pahl from Long-Term Care Newsletter, December 2004, Issue No. 13.

Description: This paper defines Distributable Earnings as the generalized pricing and valuation framework for financial contracts containing the requirement to hold capital or reserves in support of the obligations. It examines the Market Value paradigm and its foundation arising from the pricing of fixed income securities. It reconciles these two methods, showing that market value methods ignore mandatory capital and reserve requirements, which carry both risk and cost. The paper makes the case for the Distributable Earnings framework, not Market Value, as the true basis for economic value for these financial contracts. Finally, it concludes that this framework must be employed in risk-management processes, else fail to recognize a significant source of risk.