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Articles from Paul Harwood, Member of the Risk Management Board

Risk v Uncertainty? Just semantics? Maybe not

Paul Harwood shares his thoughts.
 

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Has risk management failed?

Paul Harwood shares his thoughts on useful resources on this topic.
 

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Are you a digitally aware actuary?

‘Risk Management in a Digital World’ is one of the most interesting and forward-looking of our working parties. Paul Harwood shares his thoughts.
 

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Cynic or Idealist? Which sort of actuary are you?

‘Cynic and Idealist: two views of the insurance cycle’ is a 2003 paper recommended to me as worthy of another look. I caught up with the author, actuary Martin White, and asked him whether it still had relevance.
 

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Risk Classification – worth another look

Solvency II’s insistence that we consider ‘all risks, actual or potential, that are or may affect a firm’ can be a bit daunting.

For ORSA purposes, I tend to fall back on the fact that we always test lower sales, higher claims and greater expenses, which are the obvious outcomes from all manner of unthought-of risks.
 

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The benefits of perverse outcomes

I’ve always been fascinated with unexpected outcomes and structures that become unintentionally ironic. From five cats introduced to Marion Island to control mice (becoming a huge threat to the bird population) to Orwell’s Ministry of Truth, the counter-intuitive and simply perverse holds a slight fascination.
 

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    A panel discussion with investment representatives discussing the impact of investment on climate change and vice versa.

    This event is part of The Road to Glasgow: IFoA’s Sustainability Thought Leadership Series which will provide a platform for prominent contributors so that our members and others can understand the perspectives of a wide range of parties interested in the climate debate.

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    Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.

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    How governments and societies collectively respond to the climate crisis is increasingly being analysed through the lens of intergenerational fairness. Our expert panel will assess and explore the extent to which inter-generous fairness is being considered in climate policies, the lessons from those countries who are leading the way on fairness and justice in climate interventions, and more.

  • The Growth Mindset for Actuaries

    13 October 2021 - 8 December 2021

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    This practical course is aimed at actuaries at any stage of their career who want to develop their own growth mindset and apply it to their work setting and personal or professional lifelong learning. The content of the course builds on the lecture given by Dr Helen Wright on Growth Mindset as part of the President’s 2021 Lecture series, and will be delivered over a period of 2 months, from mid-October to early December.

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    The climate crisis and the degradation of our planet will affect societies everywhere. How we address these threats will require solutions that transcend borders. As a global profession, the actuarial community is well-placed to consider and propose effective risk management solutions to help manage the climate crisis.

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    Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.