Reading the Financial Soundness Standards for Insurers (FSIs) is an exercise that can only end in madness. I’m sufficiently familiar with them now that I mostly refer back to them for particularly tricky or thorny issues. Without fail, the words fail to clearly communicate exactly what was intended. Take ancillary capital as an example. To […]
Is this blog dead? No, but you could be forgiven for thinking so. I will be posting a little more frequently than over the last year. That isn’t a high bar. Given the long silence, there are quite a few topics I’ve been thinking about and discussing with friends and colleagues. You’ll have to check […]
I had several requests for these slides. At some point they should also be available on ASSA’s website, but that process seems to take a curiously long time. Here are the Micro insurance sessional 2018 slides for anyone interested, provided of course without warranty or guarantee at all and with the understanding that the views expressed are […]
After a recent Actuarial Society sessional presentation I gave on micro insurance and the regulatory developments, I was asked why there aren’t more micro insurers operating in South Africa. Here is a slightly paraphrased version of the full question: The larger insurance players seem reluctant to enter the market. Why do you think this market […]
I think Bitcoins and the Blockchain are amazingly cool. I still don’t think Bitcoins are a useful currency and I worry that many of Bitcoin’s biggests fans also like the gold standard, Austrian economics and some other crazy stuff. What impact will the loss of Bitcoins over time have on the economy?
Stress and scenario testing are important risk assessment tools. They also provide useful ways to prepare in advance for adverse scenarios so that management doesn’t have to create everything from first principles when something similar occurs. But trying to imagine scenarios, particularly very severe scenarios, isn’t straightforward. We don’t have many examples of very extreme […]
This is a rant about people who are wrong on the internet. Also, why Huffington Post is a platform for big bad wolves. And why the asymmetric information and importance of financial advice means it’s not okay. Maybe this is just part of Cunningham’s Law. Clickbait headline? Check. “3 Smart Alternatives to Life Insurance“ Numbered […]
Briefest of posts today, but amusing to me mostly for its accuracy. Cunningham’s Law states “the best way to get the right answer on the internet is not to ask a question; it’s to post the wrong answer.”