The Emerging Risks Initiative of the Chief Risk Officers Forum is pleased to announce the publication of a new position paper called Critical Information Infrastructure. In industrialised societies, computers are interconnected to form a complex communication mesh, characterised by common hubs servicing dispersed users. This interconnectivity is called “network infrastructure”. The rapid transmission and processing of data, using network infrastructure, is critical to the well being of both producers and consumers. Network failure has the potential for serious economic and social impacts. We hope you will find this paper both informative and helpful in managing Critical Information Infrastructure risks.
Risk capital charges in the Solvency II context reflect the 99.5% quantile on a 1-year horizon. The consistent application of risk capital charges in Solvency II to all sources of risk is imperative. Inconsistent application of risk charges creates perverse incentives for certain asset classes or insurance products.
as a basis for discussion on the implementing measures for articles 50-55 of the EU Solvency II Draft Directive. The CRO Forum advocates a principles-based approach: Section B of this paper establishes five main principles for public risk disclosure which should be adhered to by all undertakings.