Covid-19 Blog

Superannuation

Using operational risk scenarios to calculate an internal risk based capital position

As a collaboration between the Actuaries Institute Superannuation Practice Committee (SPC) and Risk Management Practice Committee (RMPC), a small working group of actuaries (Tim Gorst, Vivian Dang, Matthew Burgess, Taleb Hassan, Bloreen Abbasi) worked together to explore the use of risk based scenario analysis in developing an internal operational risk-based capital (ORBC) position for Australian Super Funds. Their work considered the following core question “Is there a pragmatic way that a set of operational risk scenarios can be both parameterised and then aggregated to infer an internal ORBC position for an Australian Super Fund?”

Highlights

COVID-19 Monday Roundup 12 October 2020

With the world’s attention on Trump’s COVID-19 infection, it was easy to miss another global record number of new cases, thanks to second waves in North America and Europe. Locally, Australian cases declined and New Zealand declared itself COVID-free for a second time, but cases in the Pacific have emerged. Research highlights concerns about a pandemic-induced spike in Parkinson’s disease and explores potential immunity to COVID from the common cold, while APRA resumes its work on Disability Income Insurance.

Travel Insurance – Fight or Flight

Travel insurance has always been a product subject to a relatively high volume of consumer complaints. The fallout from COVID-19 has seen complaints nearly triple this year. In this article, Ashish Ahluwalia and Emily Liang, on behalf of the COVID-19 Travel Working Group, will discuss the key criticisms of travel insurance products before and during the COVID-19 crisis.