Think Tank - The Geneva Association : Five guiding principles that will continue to insulate us from systemic risk
Ernst & Young Forum - Solvency II: Unlocking the mystery of the risk framework around ORSA
Global News - "Exacerbated" risks cast long shadow of the financial crisis - WEF
As the focus of regulators shifts from micro-prudential to macro-prudential, the issue of how to avoid a recurrence of systemic risk is becoming a political focal point at international forums such as the G20, FSB and the IAIS. Mr Katsuo Matsushita, Special Advisor and Liaison Officer for Japan and East Asia of The Geneva Association, examines how traditional insurance market practices differ from those of the banks and stresses the need to review the guiding principles that will protect insurers from systemic risk.
Buy Now
Pillar 2 requires firms to undertake an Own Risk and Solvency Assessment (ORSA) to demonstrate “sound and prudent management of the business” and assess overall solvency needs. Ernst & Young discusses this, where companies currently stand and the issues and challenges they face.
The World Economic Forum (WEF) identified fiscal crises risks, unemployment, underinvestment in infrastructure – especially in energy and agriculture – and chronic disease as the pivotal areas that contributed to and were exacerbated by the financial crisis and global economic downturn.