Aaron Bruhn

Personal and social impacts of significant financial loss

This paper examines the impact on individuals who suffer significant financial loss. The collapse of Storm Financial is used as a qualitative case study to investigate such impacts, based on elements of grounded theory and narrative analysis. Significant financial loss is devastating, with an individual’s emotional wellbeing a primary casualty, and mental health also vulnerable. One’s social world is impacted, including relationships with family and friends, engagement in community activities and familial/cultural roles. Financial victims perceive a sense of judgement from society about their losses, further exacerbating emotive and social impacts. These impacts demonstrate that significant vulnerability exists when encouraging self-sufficiency in retirement.

A Review of Catastrophic Risks for Life Insurers

Abstract Catastrophic mortality events are characterized by a sudden and concentrated increase in mortality and as such present a major risk to life insurers. Such events include pandemics, war, natural disasters, terrorist attacks, and industrial, transport, and other accidents. Of these, pandemics arising from influenza are considered the most significant threat to the life insurance industry due to their capacity to cause a major increase in claims. We review the features and mortality implications of an influenza pandemic for life insurers, and describe a range of other risks that are likely to emerge as well.

Introducing Enterprise Risk Management Into the University Classroom: A Case Study

This article reports on the challenges faced when enterprise risk management courses (commonly studied by practitioners after several years of actuarial practice) were introduced into a postgraduate coursework degree, and taught concurrently with Actuarial Control Cycle (Part II) units. A small sample of students were interviewed, and the information gleaned from these interviews combined with the reflections provided by teaching staff is used to argue that although not problem-free, the overall gain to students makes the project worthwhile. Assessment structure and use of class time in particular are examined as key features of the class, and potential improvements are suggested.