Description: Many ERM programs fail to include an active step of actual risk treatment and are therefore rightfully characterized as Entertainment Systems. Real ERM will use risk assessment to drive decisions about risk acceptance and risk mitigation. Entertainment systems use risk assessment to create reports and to hold discussions. No actions are taken often because ERM is not empowered to do anything.

Description: What would happen when the use of computerized two-digit date fields used through all of the latter half of the 1900s encountered the date 01/01/2000? No one knew. As Jan. 1, 2000, drew closer, self-preservation forces, competition, liability shifts, and disclaimers heated up essentially across all commercial sectors. The contemporaneous documents of those pressures tell a story about those who did not know the outcome of the Y2K issue, primarily as related to liability, risk and insurance. In this exciting article, Nancy P. James, Licensed Insurance Adviser and Y2K expert, shares the untold story of risk and insurance at the dawn of the Millenium.

Description: In this interview, Caroline Grégoire, formerly from Hannover Re, and now international mentor, coach, trainer and speaker, shares her views on how mentoring can support you on your career path and how it also benefits the reinsurance industry as a whole.

Description: Investing in and taking care of employees can result in many-faceted positive results, for your team and for your firm. We first state the case for "taking care of employees," then exhibit several practical methods for showing you care for your employees.

Description: Based on the book “Emotional Intelligence 2.0” written by Travis Bradberry and Jean Greaves, the four skills necessary to improve EQ are– 1) self-awareness; 2) self-management; 3)social awareness; and 4) relationship management. This article explores the skill of self-awareness by sharing examples and personal stories, highlighting three strategies to practice. In addition to lowering stress and becoming happier, having a greater ability to regulate our emotions gives us confidence, helps us communicate better, allows us to understand multiple perspectives, builds trusting relationships, and frees us from our assumptions and biases. Ultimately, this gives us more potential to influence other sand make better decisions.

Description: A summary about the first book club discussion on Never Split the Difference. Insights on key negotiation elements are discussed in the article.

Description: Adjusting GAAP reinsurance reserves to account for reinsurance protection against the events that trigger direct reserve constraints (such as NPR capping or LFPB flooring) can be a challenge any time. Ceding a block of business that is already in force increases the challenge—especially if one of those constraints was already present at inception of the reinsurance. This article builds on previous work (published in the July 2022 and June 2023 issues) to show how to measure initial reinsurance reserves in a way that complies with AICPA guidance and prepares for effective measurement of subsequent changes in the effects of the constraints.

Description: Looking to the upcoming 2024 year and looking back at the 2023 year in the International Section.

Description: We stand for respect and equality. We are committed to doing all we can to ensure that our profession reflects the diverse perspectives, cultures and backgrounds of the members and candidates.