Description: This article describes an initiative of the Chief Risk Officer Forum to perform a study to benchmark internal models, so as to discuss the admissibility of these models for regulatory purposes in the context of Solvency II. The results of and reactions to that study are discussed.

Description: In this article the author discusses how ERM must be effectively applied to have the desired result. Stated another way, the banks that followed the basic precepts of ERM fared better in the crisis than those that didn't.

Description: Discussion of the increased use of reinsurance in the life insurance industry, including the causes and implications

Description: Recent research from Financial Finesse introduces a viable way to forecast the potential return on investment (ROI) of workplace financial wellness programs.

Description: Note from the outgoing chairperson.

Description: The December 2013/January 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Explores the applications and techniques of model governance, focusing on benefits such as model literacy, efficiency, and confidence.

Description: Even if you aren’t interested in going to Rome, this article is the first in a series on the process of innovation. It defines innovation, describes an overview of the innovation process, and includes a few innovative techniques and examples of innovation. However, it does not provide directions to Rome, as all roads lead there anyway.

Description: This article discusses the attributes of a unified Operational Risk Management framework and how those attributes can underpin a seven-factor economic capital model.

Description: What would happen when the use of computerized two-digit date fields used through all of the latter half of the 1900s encountered the date 01/01/2000? No one knew. As Jan. 1, 2000, drew closer, self-preservation forces, competition, liability shifts, and disclaimers heated up essentially across all commercial sectors. The contemporaneous documents of those pressures tell a story about those who did not know the outcome of the Y2K issue, primarily as related to liability, risk and insurance. In this exciting article, Nancy P. James, Licensed Insurance Adviser and Y2K expert, shares the untold story of risk and insurance at the dawn of the Millenium.