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A common risk classification system for the Actuarial Profession

Author

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  • Kelliher, P. O. J.
  • Wilmot, D.
  • Vij, J.
  • Klumpes, P. J. M.

Abstract

Risk terminology varies from organisation to organisation, and actuaries working in different organisations may use different terms to refer to the same risk, or use the same nomenclature for completely different risks. This paper sets out a classification system developed by the Risk Classification Working Party for the Profession that can be used as a common reference point for discussing risk. Actuaries will not be required to use this system, but it is hoped that common terminology will reduce the possibility of confusion in discussing risks.

Suggested Citation

  • Kelliher, P. O. J. & Wilmot, D. & Vij, J. & Klumpes, P. J. M., 2013. "A common risk classification system for the Actuarial Profession," British Actuarial Journal, Cambridge University Press, vol. 18(1), pages 91-121, March.
    • Handle: RePEc:cup:bracjl:v:18:y:2013:i:01:p:91-121_00
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    Cited by:

    1. Emmanuel Kazuva & Jiquan Zhang & Zhijun Tong & Alu Si & Li Na, 2018. "The DPSIR Model for Environmental Risk Assessment of Municipal Solid Waste in Dar es Salaam City, Tanzania," IJERPH, MDPI, vol. 15(8), pages 1-30, August.
    2. Clive Hunt & Ross Taplin, 2019. "Aggregation of Incidence and Intensity Risk Variables to Achieve Reconciliation," Risks, MDPI, vol. 7(4), pages 1-14, October.
    3. Christos Ellinas & Neil Allan & Caroline Coombe, 2018. "Evaluating the role of risk networks on risk identification, classification and emergence," Papers 1801.05759, arXiv.org.

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