Economic Capital: Company Perspective
This session will provide case studies from CROs of leading-edge insurance companies who have implemented an EC framework into their financial modeling business, decision-making, risk-adjusted pricing, and performance management framework. The companies will provide both cross-sector and multinational perspectives.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Environmental Impact
Global warming, alternative energy, carbon, and other credit trading can have an impact on reputational risk and economic ERM. An overview of the environmental ERM landscape and considerations such as incorporating climate change and policy compliance into your ERM Strategy will be shared.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Hedge Funds Under a Regime-Switching Model
Hedge funds are becoming an increasingly important factor in financial markets. Several spectacular hedge fund failures have generated significant risk in the financial markets. These failures are commonly blamed on inaccurate models. This session will examine hedge funds under a regime-switching model which allows for stochastic changes in the underlying financial environment. The speaker, Phelim Boyle, is the winner of the 2005 SunGard and International Association of Financial Engineers (IAFE) Financial Engineer of the Year Award.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Risk-Adjusted Profitability by Line of Business
The presenters will describe possible EC attribution and return measurement systems that produce a consistent measurement of risk/return tradeoffs across corporate functions, enabling decisions to increase economic performance, control total risk, and measure profitability on a risk-adjusted basis. This capital-return system can function as a central component of a corporate ERM framework.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Defining Risk Appetite
Most insurance companies have defined their risk appetite in some form as part of their ERM program. However, many companies are using a capital-centric approach that produces three key shortcomings: it may not fully capture all enterprise risks, it does not necessarily result in an optimal level of risk, and it may not produce the desired S&P ERM rating. An emerging approach, value-based ERM, is helping companies define their risk appetite in a manner that resolves these issues.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
ERM in Banking
Hone your knowledge of ERM in banking and learn some of the best practices in risk management with this unique session. Although ERM is still in its initial stages in banking (as it is everywhere), banks have made an essential contribution to developing best risk management techniques and practices within the financial services industry and beyond. In many countries, risk management regulations in banking influence other economic sectors' requirements for institutionalizing their own specific techniques. As a result, various financial and nonfinancial entities are trying to adopt bank best practices to their own situations. In this session you'll learn about some of these banking techniques and expand your knowledge on a number of recent ERM developments in banking. An experienced bank risk management and ALM practitioner will discuss the evolution of the current state of the practice and where it is headed.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Economic Capital: Market Perspective
This update to last year's popular session discusses current industry trends for developing company-specific EC, as well as best practices for its uses and applications. Panelists will cover recent changes in the regulatory and rating agency landscape for determining capital adequacy, including the Solvency II approach currently being implemented in Europe.
Source:
2007 Enterprise Risk Management Symposium
Type:
concurrent
Workshop 3: Session 4: Case Studies: ERM Implementation
Take a look at a hands-on example focused on dealing with issues associated with creating a successful ERM framework. Building on the essential concepts addressed earlier in the day, the case study will provide practical answers to issues arising in this process. Expert panelists will cover:
* Differences in ERM awareness across different industries
* Elements of systems and data requirements
* Infrastructure issues
* Sample risk metrics report
* Understanding the behavioral and market drivers of poor decision making regarding risk
* Exploiting risks through diversification
Source:
2007 Enterprise Risk Management Symposium
Type:
Workshop
Keywords:
ERM Implementation
Workshop 2: Session 4: Roundtable-What Have We Learned and Where Do We Go Now?
Get your burning questions about ERM processes between banks and insurers answered as a panel of experts from both businesses discuss commonalities of the ERM process between their groups. Questions will be taken from the floor, so be prepared!
Source:
2007 Enterprise Risk Management Symposium
Type:
Workshop
Keywords:
ERM
Connecting Operational Risk Management and Strategic Risk Management
Through the application of strategic risk management, an organization becomes better prepared to seize future opportunities and reduce the impact of unfortunate events. The planning process aligns strategies, goals, tactics, and resources. A market value impact of an operational event can be significant. Therefore, visualizing a set of potential operational event scenarios allows a company to determine how their operations should react to optimize a range of risk-adjusted outcomes. Effective operational risk management is essential to establishing effective strategic risk management. This session will discuss the strong connection between operational risk management and strategic risk management.
Source:
2007 Enterprise Risk Management Symposium
Type:
Workshop
Keywords:
Operational Risk Management, Strategic Risk Management
Survey Results
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
CAS hot topics update
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
Allan Kaufman
European motor insurance
instructive discussion on current topics in European motor insurance
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
Richard Bretton
Keywords:
motor insurance
technical review of insurance linked securities
a good technical review of insurance linked securities by Swiss Re Capital Markets
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
Luca Albertini
Keywords:
insurance linked securities
Hedge Funds
what they are, the different strategies they might employ and their risks. Insurers are permitted to invest in hedge funds in several European countries, but successful investment relies heavily on a skilled fund manager.
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
Edouard Stucki
Keywords:
Hedge Funds
Stochastic Reserving
from Mack and Bootstrapping to the aptly-named 'Practical Method.' The comparison included which methods can be implemented in Excel and which ones differentiate between different types of risk. The insights into uncertainty that these methods produce are also applicable to the latest Solvency discussions.
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
John Charles, Stephan Westphal
Keywords:
Mack and Boostrapping
Modeling Claims Reserving Risks
This was done by constructing a Valuation Portfolio, loading it for technical risk, and analyzing the financial and ALM risks, which are then priced and hedged using Margrabe options
Source:
2006 Regional Affiliate - CAE
Type:
affiliate
Panelists:
Mario Wuethrich
Keywords:
valuation
Risk Transfer Issues
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Keywords:
Risk Transfer
NCCI WC Hazard Group Remapping
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Greg Engl
Keywords:
Hazard Group
A Bayesian State - Space Model of Loss Development
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Frank Schmid
Keywords:
Loss Development, Bayesian State
Discussion on Loss Reserve Opinions
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Mary Miller
Keywords:
Loss Reserve
Challenges in Auto Insurance Pricing
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Ron Latva, Dexter Johnson
Keywords:
Auto Insurance, pricing
A Claim Counts Model for Discerning the Rate of Inflation from Raw Claims Data
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
John Rollins
Keywords:
Rate of Inflation, Claims Data
Captives 101
Source:
2006 Regional Affiliate - CASE
Type:
affiliate
Panelists:
Ann Conway
CAS Update Current Issues/Ballot Initiatives/Education & Exam Changes
Source:
2006 Regional Affiliate - CASE
Type:
affiliate