Comparative Failure Experience in the U.S. and Canadian Life Insurance and Banking Industries from 1980 to 2010

The Financial Reporting Section, the Joint Risk Management Section Research Committee and the Committee on Life Insurance Research are pleased to announce the release of a new report to help educate actuaries and other interested parties on the relative differences in managing risks between the insurance and banking industries. Authored by Stephen A. Robb, Paul F. Della Penna, and Alicia M. Robb, this paper seeks to examine what factors account for the failure differences in the United States, compared with Canada; how the recent events differ from previous financial crises; and how their effects differ among the various types of financial institutions