Risks – Page 4 – [BonkNote]

Run Run – Index Run-off Firesale 2015 – FRB – Self-Fulfilling Runs: Evidence from the US Life Insurance Industry – 52p In May 1991, one month after seizing Executive Life, California regulators seized First Capital Life (FCLIC). Both insurers were Drexel clients with large junk bond holdings, and both had experienced ‘bank runs’. FCLIC’s run followed regulators’…

Regulatory Forbearance 2021 – AP – Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class, by Bo Becker (Stockholm School of Economics, CEPR, and ECGI), Marcus M. Opp (Stockholm School of Economics and CEPR), Farzad Saidi University of Bonn and CEPR), The Review of Financial Studies, Volume…

NTNI – Nontraditional and Non-insurance Non-Traditional “Non-traditional Non-insurance Activities and Products” Non-traditional Non-insurance Activities and Products Public Consultation – Consultation: comments due by 25 January 2016 admin.iaisweb.org/index.cfm?event=showPage&nodeId=57972&edit=true#_ftnref1 IAIS 1. MetLife does not engage in non-traditional non-insurance activities that create any appreciable systemic risk. 2014 0730 – Letter – Benjamin Lawsky (New York Superintendent of Financial Services)…

Lapse Risk Lapse Mass Lapse Risks The third is the lapse risk, which is defined as the risk that the policy will lapse before the acquisition costs are recovered. — William M. Frasier 1996 – SOA – Accounting for Reinsurance Agreements, Society of Actuaries – 22p In terms of some additional risks that you assume,…

Non-Traditional Risks Non-traditional risks pose the greatest threat Top three were: customer loyalty competitive threats operational failure 2001 12 – NAIC – Risk Management in the Insurance Industry – Session 7a – 51p 2008 – SOA – Economic Capital for Life Insurance Companies, Society of Actuaries – 63p 19. Large life insurance groups have expanded…

RBC – Risk-Based Capital NAIC Risk-Based Capital (RBC) For Insurers Model Act, MDL-312 – 20p content.naic.org/cipr_topics/topic_riskbased_capital.htm NAIC – Life Risk-Based Capital Report: Including Overview and Instructions for Companies – link – 1993-Current Financial Condition (E) Committee Life Risk-Based Capital (E) Working Group – content.naic.org/cmte_e_lrbc.htm 1994 – NAIC – Raising The Safety Net: Risk-Based Capital for…

Operational Risk 2005 02 – SOA – Operational Risk, by Michel Rochette, The Actuary, Society of Actuaries – [link] 2008 – SOA – A New Approach for Managing Operational Risk: Addressing the Issues Underlying the 2008 Global Financial Crisis, Society of Actuaries – 91p Operational risk increases significantly when an organization experiences rapid growth. Growth typically involves…

Risk Management ERM – Enterprise Risk Management Risk Management in the Business Enterprise: Mehr, Robert 2015 – LR – The Role of the Profit Imperative in Risk Management – 58p

Liability 1986 0121 0122 – GOV (House) – The Liability Insurance Crisis [PDF-553p-GoogIePIay, VIDEO-?] Testimony – J. Robert Hunter – p279-299 House – Committee on Public Works and Transportation – Subcommittee on Investigations and Oversight 1986 0220 and 0221 – GOV (Senate) – The Cost and Availability of Liability Insurance for Small Business. Senate -…

1990s – Crisis The disaster we fear is the looming crisis of confidence, of lost credibility, of spreading fear among the public and, ultimately, of a “run on the bank” as policyholders pull their money out of the insurance industry. – (p160) — Prepared Statement: Martin D. Weiss, President, Weiss Research, Inc. 1991 0227, 0507, 0509…