ERM Best Paper Award
Congratulations to our own Christos Ellinas (Head of Research) who has won the The Actuarial Foundation’s ERM Research Excellence Award in Memory of Hubert Mueller for Best Overall Paper in collaboration with Neil Allan (Systemic Consult) and Neil Cantle (Milliman). Christos is presenting the paper titled “How resilient is your organisation? From local failures to systemic risk.” at the ERM Symposium on June 12 in Washington DC.
The paper looks at the insurance industry and explores how failure of a single firm can have a disproportionate effect to the market by affecting firms connected to it. The authors suggest that the industry can be presented as a network, where failures are a result of a cascading process, and propose a model which assesses the systemic role of each firm within the industry. This novel methodology is based on quantitative analysis and offers a simple way of using network-based information rather than firm-based information as proxies.
The ERM Symposium is targeted to Enterprise Risk Management practitioners and professionals of any industry and provides an opportunity for them to meet, discuss, grow and develop.