Sub-Topics and Links

Security bonds and coverage of directors’ and officers’ and errors and omissions liability
“Insured Loss Exposure to the Credit Crisis.” Towers Watson Emphasis  2009/3, September 2009, www.towersperrin.com/tp/getweb
cachedoc?webc=USA/2009/200911
/emp_09-3_Art-2_crisis-web.pdf

“2010 Perspective on Business Risk,” Deloitte, January 2010, www.deloitte.com/view/en_us/insights/hot-topics/2020-outlook/article/a750410d7694621Vgn
VCM200000bb42f00aRCRD.htm

AIG’s  Financial Products division
Testimony of the NAIC, Joel Ario (PA) Regarding AIG’s Impact on the Global Economy, March 2009, www.naic.org/documents/testimony_0903_ario.pdf

Financial Stability Board (FSB) - addressing systemic risk
“FSB Framework for Strengthening Adherence to International Standards,” January  2010, www.financial stabilityboard.org/publications/r_100109a.pdf

Rules may be established for financial services that do not recognize the unique characteristics of insurance
“Geneva Reports – Risk and Insurance Research No. 3, www.genevaassociation.org

Pattern and timing of the economic recovery
“Lessons and Policy Implications from the Global Financial Crisis,” IMF, February, 2010, www.imf.org/external/pubs/ft/wp/2010/wp1044.pdf

“Assessing the Credit Markets,” Milliman, Autumn 2009, www.milliman.com/expertise/property-casualty/publications/perspectives/
pdfs/credit-risk-perspectives-autumn09.pdf

“The Looming Deleveraging Challenge,” McKinsey, January 2010, www.mckinseyquarterly.com/The_
looming_deleveraging_challenge_2510

“13th Annual Global CEO Survey,” 2010, www.pwc.com/gx/en/ceo-survey/index.jhtml

The Financial Crisis
“Crisis Economics:  A Crash Course in the Future of Finance,”  Nouriel Roubini and Stephen Mihm , The Penguin Press (New York  2010)

“The Big Short:  Inside the Doomsday Machine,” Michael Lewis, W.W. Norton & Company (London 2010)

“A Failure of Capitalism,” Richard A Posner, Harvard University Press ( Cambridge 2009)

“This Time is Different:  Eight Centuries of Financial Folly,” Carmen M. Reinhart & Kenneth S. Rogoff, Princeton University Press (Princeton 2009)

Monitor economic and regulatory developments
“Review of the Differentiated Nature and Scope of Financial Regulation,” January 2010, FSB Joint Forum, www.iaisweb.org/_temp/Review_of_
the_Differentiated_Nature _and_Scope _of_Financial_Regulation_January_2010.pdf

“Toward a Global Solvency Standard V”, Mike Lombardi, Naren Persad & Andrew F. Giffin,  Emphasis 2010/01, Towers Watson

“Insurance Accounting:  The Implications,” Alexander Dollhopf & Kamran Foroughi, Emphasis 2010/01, Towers Watson

Access to the capital markets to support risk
“Insurance-Linked Securities Reaching Critical Mass,” Towers Watson Emphasis 2009/1, March 2009, www.towersperrin.com/tp/getweb
cachedoc?/webc=GBR/2009/200903/
Emp_091_ILS.pdf