The CRO Forum’s Emerging Risk Initiative continually scans the horizon to identify and communicate emerging risks facing the insurance industry. The Emerging Risk Initiative identified the current major trends and emerging risks which are expected [...]
Medical advances have significantly improved existing medical practice and will continue do so in the future. Such developments will not only bring benefits for clinicians and patients, but also opportunities and challenges for insurers adapting [...]
More than ten years on from the global financial crisis, liquidity risk remains an important theme for the financial services industry, including for re/insurers. The crisis triggered changes in market dynamics. The paper highlights the [...]
David Cole, Chief Risk Officer of Swiss Re and Vice-Chairman of the CRO Forum during 2012, was elected as the CRO Forum Chairman for 2013.
Robin Spencer, Chief Risk Officer of Aviva PLC and Vice-Chairman of the CRO Forum during 2011, was elected as the CRO Forum Chairman for 2012. Swiss Re’s Chief Risk Officer, David Cole, was elected Vice-Chairman of the CRO Forum for 2012.
As a consequence of globalisation, public expectations have risen that businesses should behave responsibly and accountably in terms of minimizing their environmental and social footprint. Even though this footprint is low for the insurance industry due to the service nature of its operations, headline risk has nonetheless increased.
We would like to take the opportunity to specify certain aspects of the risk-free interest rate term structure for QIS 5. This technical paper is set out in four sections to cover the aspects of the risk-free interest rate term structure as asked from the European Insurance CFO Forum and CRO Forum.
The CRO Forum welcomes the opportunity to comment this consultation paper on pre-application process for Internal Model. The timing for this paper is good as many supervisors are already starting a pre-application process and it will promote necessary harmonization. This paper is of high quality and the CRO Forum strongly supports CEIOPS in aiming for one unique pre-application process led by the lead/group supervisor in cooperation with the other supervisors concerned.
The CRO Forum welcomes the opportunity to contribute to the calibration of the standard formula through this paper on market risks. This document is a follow-up to our position papers published respectively last May: ‘Calibration Principles for the Solvency II Standard Formula”; and last December: ‘Calibration recommendation for the correlations in the Solvency II standard formula’.