DTA in SCR
Solvency II - Tax? Not my cup of tea! The reality is, that under Solvency II taxes do concern every insurance undertaking, since (deferred) taxes can have a significant impact on the Solvency Capital Requirements [...]
Concept Proposal categorisation methodology for cyber risk
Cyber risk continues to dominate discussions in nearly all forums. The limited and fragmented data on cyber risk presents a significant challenge for companies as they try to understand, mitigate and quantify cyber risks. A [...]
Big Data & Analytics
The smart phone checking your blood pressure, your car’s navigation system, your web navigation - just three examples of solutions that, in addition to making your daily life easier, produce data representing your health and [...]
The Smart Factory – Risk Management Perspectives
The world is about to embark on a fourth industrial revolution, propelled by innovative technologies termed as the “Smart Factory.” The real world will be turned into a huge information system bringing about a new [...]
Casualty Accumulation Risk
Casualty accumulation is the concentration of insured risks or insurance coverages that may be affected by events or circumstances that cause substantial losses under several insurance policies, and potentially over multiple years and geographies. In [...]
Enhancing the effectiveness of Supervisory Colleges
In recent years, there have been substantial changes in the approach to supervision of insurance groups. There has been much debate on group capital requirements and risk management and reporting obligations. However, group supervision is [...]
Sound Risk Culture in the Insurance Industry
Risk culture is at the centre of attention in almost all industries. Leadership pressure, higher consumer protection standards, negative public reputation and regulatory requirements are driving risk culture up the organisational agenda. This paper aims [...]
Risk Appetite – Survey Results
The topic of risk appetite has exploded in recent years, especially since the global financial crisis. Risk appetite frameworks (“RAF”) and risk appetite statements (“RAS”) continue to evolve, and companies are at different stages [...]
Cyber resilience – The cyber risk challenge and the role of insurance
The digital revolution is bringing many benefits to society and business, but the growing reliance on information technology and the internet is increasing the exposure to cyber risk. For insurers, this threat stems from the [...]
Minimum standards for operational risk loss reporting
In 2014 the CRO Forum members have developed a recommendation for minimum data standards for reporting loss events to an operational risk (OpRisk) loss data consortium. Currently, different providers for loss database services use their [...]