Archive for February 2023

Most Dangerous Risks of 2023

February 28, 2023

The new risk at the top of the Dangerous Risks poll is not surprise to anyone.

Cybersecurity remains in the top five, while Recession has broken into the number 3 slot.

Here is the entire report.


Learning from Loss

February 22, 2023

A major loss often causes management to question past decisions. They might even reverse some of them, but this may be an overreaction. The Chief Risk Officer improves the discussion by bringing a systematic review of the risk related decisions that preceded the loss. In many cases potential problems can be fixed without taking drastic and dramatic actions. 

Moderately Adverse Conditions

February 13, 2023

We have generally used a continuation of the current environment as our base assumption. But now, with the encouragement of the NY DFS, that is being treated as worse than “Moderately Adverse” scenario. Insurers need to develop a robust set of stress scenarios to test reserve adequacy that include continuation of current conditions and a variety of variations in experience, not just interest rates.

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