Recent and pending EU Anti-discrimination law (Directives, European Court of Justice ruling) poses a major challenge to the insurance industry. In this paper, the CRO Forum expresses their views on how such legal framework affects [...]
Towers Watson published a paper on the matching adjustment and the implications for long-term savings with financial support from the CRO Forum.
The purpose of this paper is to raise general awareness of the issues related to APMs and cluster munitions and the consequent reputation risks. In addition, the paper sets out possible ways of how (re-)insurance companies, from a risk management perspective, could address business transactions in relation to APMs and cluster munitions.
In light of the heightened regulatory interest in Recovery and Resolution, this CRO Forum Paper highlights the good risk management practices that insurers should undertake to avoid the requirement for resolution
In this discussion paper the CRO Forum provides a set of standards that could be applied by insurance undertakings with respect to conducting a self assessment of risk and capital solvency called Own Risk and Solvency Assessment (‘ORSA’).
The Euro area crisis of 2011 has stirred up a certain amount of thought and publication on how to deal with the potential consequences of a possible break-up of the monetary union. In light of these events, the CRO Forum investigates the potential risk management considerations that companies could take with the objective of limiting the potential impact by providing considerations to improve companies’ responsiveness to adversity.
A study by the Chief Risk Officer’s (CRO) Forum has found that the risk of large scale power disruptions is set to increase due to the growing interconnectedness of electricity grids, changing mix of power sources and aging infrastructure
The CRO Forum believes that the liquidity premium is a fundamental part of the economic valuation of insurance contracts. We support the underlying principles agreed by the Task Force, and the formulaic approach for deriving the liquidity premium adopted in QIS5.
In this paper we discuss the idea behind currency risk. If the guidance for the required capital calculation for FX risk is based on a shock applied to the Net Asset Value of the entities in their respective reporting currencies, then this can create hedge incentives that endanger the solvency of the group and hence policyholder benefits.
In this press release, Representatives of the European insurance industry have urged the European Commissioner for the Internal Market and Services, Michel Barnier, to ensure that the overly conservative and prescriptive elements still contained in the draft implementing measures for the forthcoming EU regulatory regime, Solvency II, are urgently addressed.
