"... results suggest increasing certainty from new information reduces the price of insurance"
"... results are applied in a wide range of actuarial problems including multivariate risk measures, aggregate loss, large claims reinsurance, weighted premium calculations and risk capital allocation. "
Audit partners with wider experience, and female auditors, are associated with better risk disclosure."
"In the current business climate, more companies should emphasize and integrate political risk oversight in their ERM programs. Although neglecting political risk may not trigger legal liability from regulators or courts, it can cause significant financial and reputational losses to the company."
"From a supervisory perspective, the use of AI can be expected to decrease regulatory enforcement costs while providing technology-advanced players with opportunities to game the regulatory system."
"Financial supervisors as well as financial intermediaries increasingly rely on AI. However, little remains known about the scope and pervasiveness of this evolution."
"... higher capital ratios incentivize banks to undertake riskier projects."
"In a 2019 paper, Yang, Zhang and Lan studied a risk model in which claim occurrence and amount are both governed by an underlying Markovian environment process. We find that the derivations of Yang et al are erroneous; subsequently, we analyzed the model correctly using the matrix analytic method."
"We extend the scope of risk measures for which backtesting models are available by proposing a multinomial backtesting method for general distortion risk measures. The method relies on a stratification and randomization of risk levels. We illustrate the performance of our methods in numerical case studies."
"This article examines… a user-held data model. This approach takes advantage of ‘personal data clouds’ that allows data subjects to store their data locally and in a more decentralised manner, thus decreasing the need for cross-border transfers and offering end-users the possibility of greater control over their data."