Carbon nano tubes
The Emerging Risks Initiative releases today three papers on risks emerging in the insurance industry, namely: Environmental liabilities & biodiversity losses; Carbon nano tubes (CNT); and Workplace related stress. The papers identify elements of the changing risk landscape that may create new challenges for stakeholders such as public authorities as well as financial institutions like insurance providers.
ERI – Critical Information Infrastructure
The Emerging Risks Initiative of the Chief Risk Officers Forum is pleased to announce the publication of a new position paper called Critical Information Infrastructure. In industrialised societies, computers are interconnected to form a complex [...]
Position paper – Influenza pandemics Position paper
but their views vary widely regarding how it will unfold and what excess mortality fi gures will result. Although analyses of past pandemics provide an insight into possible future scenarios, a simple extrapolation of statistics can be highly misleading. However, the 1918 Spanish fl u is often used as a basis for projecting the possible impact of a severe pandemic.
Terrorism – A unique challenge for the insurance industry
As recent terrorist activities in major cities - notably, the 11 September 2001 attacks in the United States - have made strikingly clear, terrorism has developed into a threat that affects every aspect of society and knows no national boundaries. Although there is no internationally binding defi nition of terrorism, some aspects can be agreed on: it seeks to cause human suffering, to instil widespread fear, and to disrupt life and business. The insurance industry has responded to this evolving hazard, and is doing all in its power to manage the terrorism risk.
CRO briefing Emerging Risk Initiative
The Chief Risk Officer (CRO) Forum's Emerging Risk Initiative is committed to continuously improving risk management. This paper advocates as best practice a process whereby insurers and reinsurers re-examine their assumptions about frequency, severity, loss trends and how the risks in their portfolios are interconnected and generally stress test their internal processes for hitherto "unthinkable" dimensions of risks. The paper seeks to address rating agencies, analysts, governments, regulators, intermediaries and risk modelling firms alike. This study is non-binding and for reference purposes only.