Description: Discussion of the investigation of the Faculty and Institute of Actuaries in the United Kingdom relating to the events surrounding the closure to new business on December 8, 2000 of the UK’s Equitable Life Assurance Society.

Description: Continuation of series applying Buddhist principles to actuarial work setting. This issue discusses the challenges to actuaries posed by the coronavirus pandemic and how mindfulness practice can expand an actuary's perspective and enhance effectiveness

Description: Contemporary ERM has moved from an event-based view of risk to a hierarchical, systems-based approach. In order to operationalize such an approach, a methodology is proposed in this paper that draws on phylogenetic approaches that have been successfully developed for biological evolution. The technique and process provide an insight into the lineage, pace and impact of external conditions on the evolution of risks. They also provide a unique and rational classification of risk in an enterprise that can be used to optimize risk management resources. An example of a fictitious insurance company is used to illustrate the approach. Presented at 2010 Enterprise Risk Management Symposium, Society of Actuaries, April 12-15, 2010.

Description: Risk management techniques do not include system science. System science requires that the uncertainty of the world is incorporated into the results. The articles explains the difference between risk and uncertainty. Learn how risk practices create an overoptimistic view of future outcomes.

Description: An analysis of the 1999-2011 experience of all Blues plans of betweeen $1.8 and $3.8 billion in annual revenue in 2010 to determine if there is any empirical evidence of an industry underwriting cycle. The analysis shows there is no such evidence.

Description: The author suggests ways to strengthen a company's enterprise risk management process, including the development of an "effective resilience factor," a risk metric that reflects an organization’s exposure and response to an adverse event, and measures the ability of the organization to mitigate the reduction in its operating level.

Description: This article from major US payers describes palliative care as a scaleable means of improving quality and reducing costs during serious and complex illness.

Description: To deal with future correlation crises, the author suggests the implementation of ‘’quanlitative analysts’’ (‘Quanls’) in the enterprise risk management (ERM) process: risk managers who are able to lead interdisciplinary ERM studies from a jointly qualitative and quantitative point of view, with an emphasis on dynamics.

Description: Institutional investors seeking to hedge have no shortage of choices, and need the right framework to manage the different risks in portfolios as they arise. This article analyzes performance of different equity hedging strategies over the last 15 years, and lays out a potential hedging framework that takes into account types of risks being hedged, fundamental views, and current market pricing of protection.