Enterprise Risk Management Blog

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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The ERM Blog and ERM Resource Database are maintained by the SAI’s Enterprise Risk Management Committee. If you have any feedback or you are interested in information about contributing to the blog, please contact the Society.

 

Articles:

Yes No arrow risk

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.

International Actuarial Association

 

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.

Wolf in sheeps clothing

 

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.

Red arrow over a percentage rate

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.

Phone on fire

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.

 

Risks to the profession and public interest arising from actuarial activity

Billy Galavan
Date published:  20th October 2016

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.

 

Risk Management forum – Gardaí advise actuaries on Cyber Fraud

Eric Brown
Date published:  29th July 2016

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

Assessing risk management – how to avoid an own goal

Alex Breeze
Date published:  30th May 2016

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            

 

 

Aspiro – the European Court of Justice adds further pressure to insurance premiums

Tom Donlon
Date published:  24th May 2016

The Question
The Warsaw based company “Aspiro” has been supplying claims handling services to insurance companies in Poland for many years. Aspiro performs a wide range of services for insurance companies covering most of the day to day activities that are necessary in a modern claims function...Read more