This collection of papers has been produced and approved by the Insurance Regulation Committee of the International Actuarial Association (IAA).

Table of Contents

1. Introduction to IAA Risk Book – by David Sandberg (approved on 29 September 2015)
2. Actuarial Function – by Stuart Wason (approved on 31 August 2015)
3. Professional Standards – by Godfrey Perrott (approved on 23 July 2015)
4. Operational Risk (clean copy) (marked up version)– by Peter Boller, Caroline Grégoire, and Toshihiro Kawano (approved on 15 September 2015 and amended on 8 March 2016)
5. Catastrophe Risk – by Karen Clark, Vijay Manghnani, and Hsiu-Mei Chang (approved on 31 August 2015)
6. Non-proportional Reinsurance – by Michael Eves, Alexander Fritsch, and Eberhard Müller (approved on 8 September 2015)
7. Intra-Group Reinsurance – by IAA Reinsurance Sub-committee (approved on 19 August 2015)
8. Addressing the Consequences of Insurance Groups- by Alan Joynes, Ralph Blanchard and Stuart Wason (approved on 8 March 2016)
9. Distribution Risk- by Sam Gutterman (approved on 8 March 2016)
10. ORSA- by Maryellen Coggins, Nick Dexter, Malcolm Kemp and John Oost (approved on 8 March 2016)
11. Resolution of Insolvencies - by Nick Dexter (approved on 8 April 2016)
12. Capital - A Regulatory Management Tool - by Dave Sandberg (approved on 16 August 2017)
13. Asset Liability Management - by Charles Gilbert (approved on 24 October 2016)
14. Financial Statements - by Michael Eves, Tom Herget, Francis de Regnaucourt, Stuart Wason (approved on 5 November 2016)
15. Governance of Models - by Trevor Howes, Godfrey Perrott, Sheldon Selby, David Sherwood (approved on 9 September 2016, revised 21 May 2019)
16. Materiality, Proportionality, Etc.- by Ralph Blanchard (approved on 10 October 2016)
17. Risk and Uncertainty - by Sam Gutterman (approved on 6 June 2017)
18. Policyholder Behaviour and Management Actions - by Jari Niittuinperä (approved on 14 February 2017; revised and approved on 21 February 2020)
19. Appropriate Applications of Stress and Scenario Testing - by Eberhard Müller and Dave Sandberg (approved on 21 February 2020)

Chapters under development:

      Dynamic Hedging - Michael Scriver and Charles Gilbert

Archive of superseded versions:

Chapter 4: Operational Risk – by Peter Boller, Caroline Grégoire, and Toshihiro Kawano (approved on 15 September 2015)
Chapter 15: Governance of Models - by Trevor Howes, Godfrey Perrott, Sheldon Selby, David Sherwood (approved on 9 September 2016)
Chapter 18: Policyholder Behaviour and Management Actions - by Jari Niittuinperä (approved on 14 February 2017)

Each paper has an email address (riskbookcomments@actuaries.org) posted in the footer to allow readers to easily submit comments to the author, or to report problems with the website.

Events that have discussed the Risk Book:

» Tuesday, 22 March 2016 - Webinar Recording: Recording click here   
    Presentation Deck: Click here
» Monday, 21 September 2020 - Risk Management: ERM Risk (Webinar recording / Slides)
» Thursday, 22 October 2020 - Managing Crisis with The ORSA (Webinar recording / Slides)
» Friday, 20 November 2020 - Actuarial Functions: The Next Generation (Webinar recording / Slides)
» Tuesday, 26 January 2021 - Stress and Scenario Testing - A Modern Update (Webinar recording / Slides)