Description: In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. In contrast to previous studies that document a significant product line and geographic diversification discount relative to more focused competitors, our analysis suggests that firms with effective ERM programs exhibit a performance premium. Using the Standard and Poor’s (S&P) ERM ratings from 2006 to 2012, we find that product line diversification has a significant positive effect on value for more diversified firms with well-implemented ERM programs, as compared to those with weak ERM.

Description: Every October, the U.S. Social Security Administration announces certain changes in programamounts that occur automatically—that is, without any new legislation being necessary.

Description: The author, working in his sixth insurance organization, notes the key consideration is having a direction for your life, emphasizing life, not career. The author discusses taking time to write your goals for both your personal and professional life, including career goals, personal goals, and family goals. The author notes that the balance of professional and personal priorities changes over time, so this is definitely not something you only do once in your life, and the goals for your career and the goals of your family need to be reconsidered and discussed throughout your career. From ‘The Stepping Stone’ issue number 43.

Description: Self-branding is how you show up in the world, both in person and online. It’s how others perceive your strengths, your values, your work ethic, and your uniqueness. This article explores strategies that you can use to develop your personal brand, offering practical steps you can take.

Description: An update to the risk management readers on what the JRMS is planning to do over 2023 to serve its membership.

Description: An overview of John Robinson's experience at the recently concluded annual meeting of the Caribbean Actuarial Association in Trinidad.

Description: An article about redefining risk management, written entirely by ChatGPT.

Description: In this webcast, we will speak with actuarial leaders who developed their personal brand over several years to better understand just how powerful having a personal brand can be in actuarial work.