Description: A discussion about the increasing risks associated with the National Flood Insurance Program in the U.S., including discussion of its history as well as key issues associated with its continuation in its present form.

Description: The authors take a deeper look at the long-standing motto of the Society of Actuaries, from John Ruskin, “The work of science is to substitute facts for appearances and demonstrations for impressions.”

Description: The paper discusses the arguments supporting the need for risk culture to transition into ERM culture to be embedded across financial organizations. Creating and maintaining strong ERM culture is paramount to a lasting and meaningful ERM program. It is essential for organizations to understand what ERM culture is, how it gets established and in what way affects the process of ERM implementation. Often, the implications of financial enterprises not focusing on the significance of ERM culture manifested in severely compromised ability to generate sustainable value and market competitive advantage. This paper calls for rethinking the role of ERM culture in the context of managing risks.

Description: Approaches to filing, approving and implementing LTC rate increases impact policyholder behavior regarding retaining/modifying their coverage.

Description: An overview of reinsurance training class provided to the Bermuda Monetary Authority (Authority) and Central Bank of Trinidad and Tobago (Central Bank) covering all aspects of reinsurance. Article also provides an overview of initiatives that the two regulators (Authority and Central Bank) are involved with.

Description: Discussion of the economics of a possible H5N1 pandemic, and its impact on Life, Health, and Property and Casualty insurers, in terms of areas of risk, especially underwritng risk, operations risk, and market risk.