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Author: Arne Sandström
Publisher: CRC Press
ISBN: 1439821321
Category : Business & Economics
Languages : en
Pages : 1084
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Book Description
A one-stop shop for actuaries and risk managers, this handbook covers general solvency and risk management topics as well issues pertaining to the European Solvency II project. It focuses on the valuation of assets and liabilities, the calculation of capital requirement, and the calculation of the standard formula for the Solvency II project. The author describes valuation and investment approaches, explains how to develop models and measure various risks, and presents approaches for calculating minimum capital requirements based on CEIOPS final advice. Updates on solvency projects and issues are available at www.SolvencyII.nu
Author: Arne Sandström
Publisher: CRC Press
ISBN: 1439821321
Category : Business & Economics
Languages : en
Pages : 1084
Get Book Here
Book Description
A one-stop shop for actuaries and risk managers, this handbook covers general solvency and risk management topics as well issues pertaining to the European Solvency II project. It focuses on the valuation of assets and liabilities, the calculation of capital requirement, and the calculation of the standard formula for the Solvency II project. The author describes valuation and investment approaches, explains how to develop models and measure various risks, and presents approaches for calculating minimum capital requirements based on CEIOPS final advice. Updates on solvency projects and issues are available at www.SolvencyII.nu
Author: Vsevolod K. Malinovskii
Publisher: CRC Press
ISBN: 1000411079
Category : Mathematics
Languages : en
Pages : 340
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Book Description
Risk Measures and Insurance Solvency Benchmarks: Fixed-Probability Levels in Renewal Risk Models is written for academics and practitioners who are concerned about potential weaknesses of the Solvency II regulatory system. It is also intended for readers who are interested in pure and applied probability, have a taste for classical and asymptotic analysis, and are motivated to delve into rather intensive calculations. The formal prerequisite for this book is a good background in analysis. The desired prerequisite is some degree of probability training, but someone with knowledge of the classical real-variable theory, including asymptotic methods, will also find this book interesting. For those who find the proofs too complicated, it may be reassuring that most results in this book are formulated in rather elementary terms. This book can also be used as reading material for basic courses in risk measures, insurance mathematics, and applied probability. The material of this book was partly used by the author for his courses in several universities in Moscow, Copenhagen University, and in the University of Montreal. Features Requires only minimal mathematical prerequisites in analysis and probability Suitable for researchers and postgraduate students in related fields Could be used as a supplement to courses in risk measures, insurance mathematics and applied probability.
Author: María Luisa Muñoz Paredes
Publisher: Springer Nature
ISBN: 3031137531
Category : Law
Languages : en
Pages : 354
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Book Description
This book offers a novel study on the impact of the Covid-19 pandemic on insurance from an international and comparative perspective. It assesses how insurance has to adapt to a new landscape, the effects of which will last over time and cut across all areas of the field. To avoid physical contact, digitalisation has accelerated dramatically, affecting insurance in all its phases: risk selection, underwriting, pricing and claims settlement. However, the effects of the Covid-19 pandemic go far beyond that. The extent to which a claim caused directly or indirectly by the virus is or is not covered by a given policy has been the subject of debate in many insurance branches. The most litigated cases worldwide are those that concern damages resulting from business interruption due to restrictions enforced by the authorities in virtually every country. This book analyses the rulings (for and against the insured) that have already been handed down by courts in various jurisdictions (for example in the US, Latin America, Spain and Germany), in order to provide guidance to the parties in future lawsuits and also to guide the courts’ own responses. This analysis extends to the measures that governments have taken in relation to insurance during the pandemic, as well as the changes that insurers have introduced in their general conditions to exclude coverage for the pandemic. This response is unsatisfactory, as the big question is how pandemic-related risks can be covered if private insurers simply refuse to do so. Solutions based on risk sharing with public entities or the use of contractual modalities such as parametric insurance are among those outlined by the authors. The book was written by experts from academia and lawyers specialising in this field, and written for all those interested in the field of insurance: lawyers, judges, academics and legal professionals.
Author: Olivia Johanna Erdélyi
Publisher: Springer
ISBN: 331930707X
Category : Law
Languages : en
Pages : 276
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Book Description
The book addresses the truly interdisciplinary and highly controversial subject of international financial regulation and supervision, which has been at the center of academic, political, and public attention since the start of the current economic and financial crisis. Drawing on international financial regulatory and supervisory experience and in line with the European Monetary Union’s gradual transformation into a Genuine Economic and Monetary Union, it proposes the transformation of the European financial supervisory framework into a hybrid twin-peaks model to create the previously missing necessary legal foundation for the adoption of the so-called Group Support Regime (GSR). The latter is a relatively simple and transparent capital management tool for (re)insurance groups operating in a parent-subsidiary structure proposed by the European Commission under the new Solvency II insurance supervisory framework, which despite lengthy consideration was eventually rejected by Member States.
Author: Kristina Loguinova
Publisher: Springer Nature
ISBN: 3030263576
Category : Law
Languages : en
Pages : 391
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Book Description
This book analyzes the impact of Solvency II. In recent years, EU legislators have sought to introduce fundamental reforms. Whether these reforms were indeed fundamental is critically investigated with regard to a post-crisis piece of financial legislation affecting the EU’s largest institutional investors: Solvency II. Namely, the last financial and economic crisis, the worst financial catastrophe of the last decade, revealed that financial law in particular was not sufficiently mature to maintain the existence of a robust and trust-worthy financial system that could protect society from economic decline. The work also makes concrete recommendations on achieving a more sustainable future. As such, it offers a valuable resource for anyone who is interested in the financial system, the EU political economy, insurance, sustainability, and Critical Legal Studies.
Author: Olivia S. Mitchell
Publisher: Oxford University Press
ISBN: 0192512323
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, and the European System of Financial Supervision (ESFS) is also crafting a framework to supervise regulated financial sector institutions including banks, insurers, pension funds, and asset managers. The implosion of the financial sector has also prompted calls for accounting changes from those seeking to better understand how assets and liabilities are reported. Initially banks were seen by many as the most important focus for regulatory reform, but other institutions are now attracting policymaker attention. There is logic to this in terms of managing systemic risk and ensuring a level playing field that avoids arbitrage between institutional structures. Yet the nature of pension and insurer liabilities is so different from that of bank liabilities that careful attention is needed in drafting appropriate rules. The new rules are having both direct and spill-over effects on retirement systems around the world. The first half of this volume undertakes an assessment of how global responses to the financial crisis are potentially altering how insurers, pension plan sponsors, and policymakers will manage risk in the decades to come. The second half evaluates developments in retirement saving and retirement products, to determine which and how these might help meet shortfalls in retirement provision.
Author: Vladimir V. Rykov
Publisher: Springer
ISBN: 3319715046
Category : Computers
Languages : en
Pages : 551
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Book Description
This book constitutes the refereed proceedings of the First International Conference on Analytical and Computational Methods in Probability Theory and its Applications, ACMPT 2017, held in Moscow, Russia, in October 2017. The 42 full papers presented were carefully reviewed and selected from 173 submissions. The conference program consisted of four main themes associated with significant contributions made by A.D.Soloviev. These are: Analytical methods in probability theory, Computational methods in probability theory, Asymptotical methods in probability theory, the history of mathematics.
Author: Alexander J. McNeil
Publisher: Princeton University Press
ISBN: 0691166277
Category : Business & Economics
Languages : en
Pages : 720
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Book Description
This book provides the most comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management. Whether you are a financial risk analyst, actuary, regulator or student of quantitative finance, Quantitative Risk Management gives you the practical tools you need to solve real-world problems. Describing the latest advances in the field, Quantitative Risk Management covers the methods for market, credit and operational risk modelling. It places standard industry approaches on a more formal footing and explores key concepts such as loss distributions, risk measures and risk aggregation and allocation principles. The book's methodology draws on diverse quantitative disciplines, from mathematical finance and statistics to econometrics and actuarial mathematics. A primary theme throughout is the need to satisfactorily address extreme outcomes and the dependence of key risk drivers. Proven in the classroom, the book also covers advanced topics like credit derivatives. Fully revised and expanded to reflect developments in the field since the financial crisis Features shorter chapters to facilitate teaching and learning Provides enhanced coverage of Solvency II and insurance risk management and extended treatment of credit risk, including counterparty credit risk and CDO pricing Includes a new chapter on market risk and new material on risk measures and risk aggregation
Author: Vladimir Panov
Publisher: Springer
ISBN: 331965313X
Category : Mathematics
Languages : en
Pages : 506
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Book Description
This book brings together the latest findings in the area of stochastic analysis and statistics. The individual chapters cover a wide range of topics from limit theorems, Markov processes, nonparametric methods, acturial science, population dynamics, and many others. The volume is dedicated to Valentin Konakov, head of the International Laboratory of Stochastic Analysis and its Applications on the occasion of his 70th birthday. Contributions were prepared by the participants of the international conference of the international conference “Modern problems of stochastic analysis and statistics”, held at the Higher School of Economics in Moscow from May 29 - June 2, 2016. It offers a valuable reference resource for researchers and graduate students interested in modern stochastics.
Author: Julian Burling
Publisher: Edward Elgar Publishing
ISBN: 1802205896
Category : Law
Languages : en
Pages : 933
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Book Description
This thoroughly revised second edition of the Research Handbook on International Insurance Law and Regulation provides an updated assessment of the insurance industry in an international context, featuring 30 chapters, of which half are new for this edition, written by expert academics and practising lawyers.
