Category Archives: Reinsurance
Could an Earthquake Cause the Next Financial Crisis?
On January 17, 1995, an earthquake struck the Japanese port city of Kobe, killing 6,500 people and destroying $100 billion worth of property and capital. Five weeks later, Barings Bank was declared insolvent after admitting losses of $1.3 billion, twice the …
Continue reading →A Gigantic Risk Management Entertainment System
As video gaming has become more and more sophisticated, and as the hardware to support those games has become capable of playing movies and other media, video game consoles have now become “Entertainment Systems”.
Continue reading →Scenarios, Financial Networks and Systemically Important Financial Institutions
I recently returned from attending a conference on the indices of riskiness, which was jointly organized by CEAR from GSU, RiskLab at ETH and the Department of Banking and Finance at the University of Zurich. Clearly, a shift away from the …
Continue reading →Turkey is Growing: It’s Time to Increase Re/insurance Penetration
Turkey’s current economic growth presents domestic insurers with both opportunities and challenges. According to figures from the Turkish Contractors Association (TCA), in 2010 and 2011 Turkey’s gross domestic product (GDP) grew by 9.2% and 8.5% respectively.
Continue reading →Panel at ERM Symposium: ERM for Financial Intermediaries
Insurance company risk managers need to recognize that traditional activities like underwriting, pricing and reserving are vitally important parts of managing the risks of their firm. Enterprise risk management (ERM) tends to focus upon only two or three of the …
Continue reading →ERM Symposium Panel: Actuarial Professional Risk Management
In just a few days, actuaries will be the first group of Enterprise Risk Management (ERM) professionals to make a commitment to specific ERM standards for their work. In 2012, the Actuarial Standards Board passed two new Actuarial Standards of …
Continue reading →Has the Risk Profession Become a Spectator Sport?
The 2013 ERM Symposium goes back to Chicago this year after a side trip to DC for 2012. This is the 11th year for the premier program for financial risk managers.
Continue reading →What to Do About Emerging Risks…
WillisWire has on several occasions featured opinions from a large number of our contributors about what might be the next emerging risk in various sectors. But what can be done once you have identified an emerging risk?
Continue reading →Excess of Loss Reinsurance: Per–Risk Contracts
In my previous blog in this series we explored the rationale behind excess of loss rating by looking at a facultative excess of loss placement. Now I want to move to the other side of the family tree and look …
Continue reading →Dealing With the Big Stuff: Excess of Loss Reinsurance
A reinsurance contract can protect an insurer’s balance sheet against abnormal fluctuations in results that may be caused by large individual claims or by larger numbers of smaller claims that occur as a result of a catastrophe or other unforeseen circumstances. …
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