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Warming of the Oceans and Implications for the (Re)insurance Industry
This report gives an overview of the detected changes in the oceans and their impact on extreme events and hazard probabilities over the last decades. It summarises the changes in risk management strategies that (re)insurance companies can implement in order to address the new situation appropriately, comply with regulatory requirements and ultimately improve their ratings.
Group-Wide Risk and Capital Management of Internationally Active Insurance Groups - Current Practices and Challenges
With the 2012 ComFrame draft, the International Association of Insurance Supervisors (IAIS) on 1 July 2012 presented a comprehensive version of the envisaged framework for the supervision of internationally active insurance groups (IAIGs). In the subsequent discussion and consultation, it became apparent that, although the industry was supporting the overall objectives of this endeavour, concerns have been raised in particular with regard to Module 2 of the 2012 ComFrame draft, dealing mainly with enterprise risk management and the assessment of the groups’ financial condition.
The social and economic value of insurance
This paper seeks first and foremost to provide a more detailed understanding of the role, benefits and capabilities of the insurance industry, as well as an overview of the functioning of the insurance mechanism. It expounds upon the very real value that insurance offers individuals, institutions and the economy by providing a sense of security and peace of mind, encouraging loss mitigation, increasing prosperity, and generally making people more aware of the reality of risks and their consequences through information and pricing signals.
Surrenders in the Life Insurance Industry and their Impact on Liquidity
Core insurance business, due to its business model, is not as liquidity dependent as banking. Nevertheless, scenarios of liquidity problems in the insurance sector have been increasingly discussed among the regulatory and supervisory bodies. This analysis aims to further guide the discussion to help find the appropriate responses to potential liquidity risk.
Equitable Life U.K.: a Decade of Regulations and Restructuring
This report examines the Equitable Life crisis and subsequent run-off as part of a series of case studies undertaken by The Geneva Association to identify the best practices for ensuring smooth, non-disruptive resolutions, with a focus on policyholder protection and the overall stability of financial markets and economies.
The Public Pensions Crisis in the U.S.
In this report The Geneva Association examines the issues at the root of the crisis and suggests that the non-payment of annual required contributions and an unbalanced strcture to pension planning are among the most significant challenges to overcome.
Ten Key Questions on Cyber Risk and Cyber Risk Insurance
An analysis of the insurability limitations of cyber risk with recommendations on how to prevent cyber risk and support cyber insurance.
The Pension Gap Epidemic
This report provides an analysis of the existing scope and trajectory of the current pensions crisis and makes recommendations on how to address it.
Lessons learned from the events of 11 March 2011
This report provides reviews and articles by many of the presenters from the 2013 seminar on disaster risk reduction held in Sendai, Japan, and aims to provide a wider dissemination of the information exchanged.
Insurance Sector Investments and Their Impact on Financial Stability
This report is the latest in a series of Geneva Association white papers initiated in 2009 that contribute a fact-based analysis for the global discussions on insurance and financial stability. This report uses empirical evidence to examine whether potentially procyclical behaviour alleged to come from the insurance industry in market downturns could be systemically relevant.
