298

How much of your model do you need to understand?

A senior manager should at least understand the questions the model is trying to answer, and their impact on the firm's business model, argues Craig Turnbull

289

The modellers, not the models, failed

We should remember Nobel laureate Robert Merton's warning that "models are not at all precise in their application to the complex real world," argue Athula Alwis and Dave Ingram

275

How SCOR manages extreme risks

Michel Dacorogna, the company's modelling chief, tells Jessica Baylis the role of the risk manager is to think of the improbable and then work out ways of allowing for this in your risk management.

264

We need the whole story on partial models

Postponement of the CEIOPS' paper and regulatory vagueness add to confusion over how partial internal models might be used, yet these could be the choice of the majority of insurers. Jessica Baylis reports.

251

Make proper allowances for risk interactions

Individual risks like volatility aren't the problem, argues Milliman's Neil Cantle. The way they combine is.

241

Get your priorities right in preparing for Solvency II

Don't start with a gap analysis, argues Charl Cronje. Work on the statutory capital requirement first, then move on to how risk is managed throughout the firm.

169

Trying to find the sting in the tail

Tail risk is hard to understand and very difficult to mitigate. But the effects can be seen, disastrously, in the banking industry. Jessica Baylis talks to those looking for answers

167

To VaR or not to VaR?

Value-at-Risk (VaR) is appropriate and effective for its proper purpose "" but it addresses only one of the two key challenges of financial risk management, argues David Rowe

164

Prepare your models for the six tests now

Graham Fulcher reviews the Solvency II test criteria for internal models and offers practical advice on dealing with them in advance of further guidance from CEIOPS in June.

152

Can capital pressures be run off?

As fourth-quarter results reveal depleted balance sheets for many insurers, exiting unprofitable lines of business could become more popular for managing capital. Helen Yates reports.