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

288

Experts react to CEIOPS' consultation papers

Watson Wyatt has published its initial analysis of the 1,100 pages of documents put out last week.

283

Renewals reports paint positive capacity picture

Signs of recovery in the financial markets and the lack of big underwriting losses helped

277

Solvency II will support growth of ILS market

But CEIOPS doubts it will regain its 2007 levels

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.

258

Partial models pose challenges for CEIOPS

Consultation paper postponed to end of year

256

Crozet to head aggregate modelling at Amlin London

Later his role will extend across the whole group

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.

249

CRO Forum stresses importance of implied volatility

It should form a separate risk module in the standard formula