Risk Management Metrics (RMM) Subgroup Minutes

Risk Management Metrics Subgroup
March 6, 2003
2 p.m. Central Time

Participants: Dave Ingram (Leader), Geoff Alaishuski, Cliff Angstman, John Kollar, Dennis Lauzon, Julie Perks, Kamran Quavi, Fred Tavan, Lori VandeKrol, Grace Wong

1. Discussion of next steps for Metrics definitions that have already been drafted

   Action Items:
   

   1. – Publicize posting of these drafts more widely - not assigned (they are posted on http://www.soa.org/sections/rmtf/rmtf_rmm.html )
      
   2. – Discuss possible usage by E&E for study notes - Dave
      
   3. – Continue to complete development of OAS draft - Lori
      
   4. – Continue to develop additional drafts - suggested topics include
      Insurance risk metrics for mortality, morbidity and persistency -
      tabled until next call
      
      

2. Discussion of Draft of Risk Limits Paper
   
   Action Item: – Provide feedback to Dennis & Kamran to make further revisions to draft - Fred & Dave

3. Discussion of Risk Appetite & Risk Limits
   
   Action Item: – Develop brief description of definition and scope of possible work here - Fred, Dave & Cliff

Note – John mentioned that a CAS group was looking into this same topic, planning to do literature search and work from there. Discussed sending a representative to that group - none identified at this time.

4. Other items mentioned – no action items
   Forward looking risk measurement
   Development of a standard for risk profiling of insurance products
   Development of materials describing current risks that companies are exposed to
   because of long duration investments and short liabilities and low margins

5. Next Call - April 10 @ 9 a.m. Central

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