Welcome to the ERM Blog! Browse the posts below for insights into risk management theory and practice from Ireland and internationally. Or search our extensive ERM Resource Database for more information on a particular risk category.
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12 Page ORSA (SAI ERM Forum) Danielle O'Sullivan Date published: September 2017 The Own Risk & Solvency Assessment (ORSA) is viewed by many as one of the most beneficial aspects of the Solvency II regime – particularly for the Board – bringing together the outputs from several risk and capital processes to provide an overall picture of the insurer’s solvency and key risks. But how good are we, as risk professionals, at distilling all this information into one user friendly document and is the ORSA report, in its current guise, really fit for purpose? Click here to read more |
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Brexit (SAI ERM Forum) Daneille O'Sullivan Date published: September 2017 It’s fair to say that Brexit has been the buzzword in the industry for over a year but now that the votes are in and Article 50 has been triggered are we really any wiser as to what this could mean for our companies, for us as a profession or indeed for us as individuals? Click here to read more. |
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ETVs – always reducing risk? Bryan O'Higgins Date published: July 2017 Enhanced Transfer Value (ETV) exercises are usually run by sponsoring employers in order to reduce risk. However without appropriate governance, the exact opposite might occur. Click here to read more. |
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Actuarial Aspects of ERM for Insurance Companies Date published: January 2016 The purpose of this paper is to provide assistance to actuaries or other practitioners in relation to Enterprise Risk Management (“ERM”) and to help to achieve greater consistency in relation to knowledge and awareness of various topics. Click here to read more. |
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Liquidity risk: A wolf in sheep’s clothing? Eamonn Phelan Date published: 16th January 2017 Identification and effective management of the primary sources of liquidity risk can make the difference between survival and failure of the business. It’s something that we can’t afford to leave to chance. Click here to read more. |
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Interest Risk in a Solvency II Environment Eamonn Mernagh Date published: 6th December 2016 The introduction of Solvency II has brought with it an increase in interest rate sensitivity for insurers with long tailed liabilities. This post discusses the drivers of this volatility and some potential solutions that are available. Click here to read more. |
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Spotlight on Operational and Reputational Risk Bridget MacDonnell Date published: 6th December 2016 Operational and reputational risks have become areas of greater focus in recent times. In this blog post, we take a closer look at current perspectives and the techniques available for managing these risks. Click here to read more. |
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Risks to the profession and public interest arising from actuarial activity Billy Galavan As part of its action plan for 2016, the Enterprise Risk Management (ERM) Committee of the Society of Actuaries of Ireland was asked to assist in assessing the sources of risk to the profession / public interest arising from activities carried out by members of the profession. The request arose from a discussion on risks to the public interest between Dervla Tomlin, President of the Society, and Tom Donlon, Chair of the ERM Committee. The ERM Committee’s remit already included a priority action to help drive an enhanced reputation for the Society and build trust in actuarial services. It was decided that the ‘Risk’ group within the ERM Committee would drive the response to this request. Read more. |
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Risk Management forum – Gardaí advise actuaries on Cyber Fraud Eric Brown There are a number of emerging risks in the insurance industry. The forum provided an opportunity to bring people together to discuss two of these – consumer risk and cyber risk – and also consider a high level overview of current hot topics. Read more |
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Assessing risk management – how to avoid an own goal Alex Breeze Picture the scene: Having battled to a goalless draw against Sweden and succumbed to defeat against a clinical Belgian side (and a highly debateable refereeing decision), the Republic of Ireland soccer team go into their final Euro 2016 group game with Italy knowing that only a win will guarantee progression in the competition, but a draw might be enough if other results go their way... Read more
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Aspiro – the European Court of Justice adds further pressure to insurance premiums Tom Donlon The Question
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