The Risk Book is written to be accessible to a wide range of readers, many of whom may not be actuaries or experts in the areas discussed but may be decision-makers in those areas. Consequently, the Risk Book should provide insight into the ideas and concepts behind actuarial topics and concepts and is therefore focused on being descriptive rather than being formal and mathematically precise.
The Risk Book is intended to be a dynamic and evolving resource, updated over time, reflecting new areas where actuarial expertise can add value, experience and advances, and topics of current interest and importance.
Risk Book Chapters
- Risk and Uncertainty (June 2017)
- Materiality, Proportionality and Similar Terms (April 2023)
- Introduction to Inclusive Insurance (February 2023)
- Professional Standards (May 2023)
- Governance of Models (May 2023)
- Actuarial Function (March 2023)
- Addressing the Consequences of Insurance Groups (May 2023)
- ERM Insights from Failures and Near Failures (March 2023)
- Reinsurance (May 2023)
- Asset Liability Management (October 2016)
- Appropriate Applications of Stress and Scenario Testing (February 2020)
- Capital – A Regulatory Management Tool (August 2017)
- Resolution of Insolvencies (April 2016)
- ORSA (May 2023)
- Policyholder Behaviour and Management Actions (July 2022)
- Non-Life Perils and Coverages (May 2023)
- Liabilities for General Insurance (March 2023)
- Operational Risk (March 2016)
- Distribution Risks (March 2025)
- Introduction
- Actuarial roles
- Risk frameworks
- Risk management tools
- Reporting and using actuarial work
- Asset risks
- Liability risks
- Solvency
- Other risks
How is the Risk Book is organized?
This is discussed in the initial Chapter of the Risk Book: Introduction: Using the Risk Book.
In summary the Risk Book is organized with a tiered index to guide readers. These levels are:
- Level 1. This indicates the main area of knowledge. Choose this first. An analogy is that this provides the bookshelf to go to in a ‘library’.
- Level 2. This indicates a selection of a topic within a given main area of knowledge. Choose this second. The analogy continues with this choice providing the book on the shelf chosen at level 1.
- Level 3. This indicates the Risk Book chapter names within the area. These complete the specification of chapter. Choose this third. There may be multiple Risk Book chapters at this level.
Some additional IAA materials, which complement the Risk Book, are referred to.
In some cases, translations of certain chapters have been made by local member associations or members. They can be viewed by clicking the flag. The IAA has neither reviewed nor endorsed them. However, we are providing them on our website as a service to members.
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- Risk Book Chapter on ERM Insights from Failures and Near Failures
- The Inclusive Insurance Risk Book Chapter – 15 February 2023
- Stress and Scenario Testing: A Modern Update webinar – 26 January 2021
- Actuarial Functions: The Next Generation webinar – 20 November 2020
- Managing Crisis with the ORSA webinar – 22 October 2020
- Risk Management webinar – 21 September 2020
- Governance, Management and Regulation of Insurance Operations webinar – 22 March 2016
There have been many contributors to the Risk Book. They may be or have been:
- An author of one or more chapters
- A reviewer of one or more chapters
- A member of the Risk Book Editorial Board
The range of actuarial expertise and experience that has been harnessed in producing the Risk Book is broad and deep.
The IAA and the Risk Book Editorial Board thank each and every one of them for their support an contributions.
If you are interested in becoming a contributor then please go to the ‘Get Involved‘ tab.
The development and management of the Risk Book is carried out by the Risk Book Editorial Board of the IAA Insurance Regulation Committee (IRC), in accordance with Terms of Reference and Guidelines as approved by the IRC). The Risk Book Editorial Board meets every month or second month.
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If you are interested in becoming a contributor to the Risk Book, please provide the information requested below.
You may have a topic for consideration as a new Risk Book chapter, you may want to become a reviewer or writer, or you may have another suggestion.
The Risk Book Editorial Board will consider your interest and how your experience and skills may fit with our current needs and plans. The Risk Book Editorial Board typically provides a response within 60 days.
Please contact technical.activities@actuaries.org provide your bio and explain how you could contribute to the Risk Book.
Thank you for your interest!