I attended the 27th Annual FIRST conference in Berlin recently. I have attended regularly for the last four years, and this year I noticed a couple of important things. Firstly, if you’ll forgive the pun, there was an increase in … Continued
Traditional insurance practice involves insulating the insurer’s operational risks from the risks they are insuring. This means that maritime shipping insurance companies don’t place their headquarters aboard ships. Those that insure floods don’t have offices in floodplains. Usually, it’s geography that … Continued
The emerging carbon risk Carbon risk is systemic in nature. Tied to the future availability of carbon assets and triggered by environmental-related risks, the risk of a carbon “bubble” collapse has the potential to cause large fossil fuel companies (coal, … Continued
The WEF Global Risks 2015 identifies ‘interstate conflict’ as the top catastrophe threat of concern, in a new ranking order of business risks for the next decade. Managing the business risk posed by political instability and other threats is a … Continued
BOOK REVIEW: Global Crisis: War, Climate Change & Catastrophe in the Seventeenth Century, Geoffrey Parker, 2013, Yale University Press. ISBN 978-0-300-15323-1. What happens when lots of catastrophes happen at once? Geoffrey Parker’s book describes a period in history – the … Continued
SSL/TLS is an encryption mechanism that keeps your data confidential between your browser and a webpage. This system protects your data between you and (for example) your bank. To do such things, a bank needs a certificate. That certificate can … Continued
There was an amazing array of images of financial networks at the seminar on Financial Risk and Network Theory to launch the new journal on Network Theory in Finance. Have a look at these visualizations from some of the 23 … Continued
Earlier in the year, the Cambridge Centre for Risk Studies ran a stress test to factor the global economic risk of a hypothetical ‘Millennial uprising’ – that is, a far reaching anti-austerity protest, helmed by the young, the educated and … Continued
In the Great Financial Crisis of 2007 to 2009, investment portfolios took big hits on their value, with indices like the Dow Jones falling to less than half of their pre-crisis peak by March 2009. Analysts said that the financial … Continued
Risk Managers have never been short of data – they are usually drowning in it – so they can be forgiven for not getting too excited about the prospect of ‘Big Data’: the idea of orders of magnitude more digital … Continued