Most economic losses have an operational component, yet insurers are still reluctant to commit resources to managing a risk where modelling techniques and management know-how are still in their early stages. Jessica Baylis reports
The financial crisis and the toughening demands of Solvency II have been a combined test like no other for companies this year
The directive will require a total balance-sheet approach to the business and encourage non-life insurers to take a more active approach to managing market risks, argues Peter McGloughlin
The liquidity premium, operational risk and own funds are the big three changes in CEIOPS' final advice, says KPMG
KPMG's Elliot Varnell analyses the key issues in the CEIOPS documents
EDHEC study shows how companies can capitalize on the directive
CEIOPS' consultation paper sees big change from QIS4 on premium and reserve risk capital for non-life insurers, says Watson Wyatt
But cherry-picking must be avoided. KPMG dissects CEIOPS' consultation paper 65.
Tom Wilson is joined by Kathryn Morgan, Andrew Hitchcox, Seamus Creedon and others
This involves generating risk drivers with a specific impact in insurance companies and then modelling their impact on different risks. Hannes Janse van Rensburg of Watson Wyatt elaborates.