The theory of acceptance sets and their associated risk measures plays a key role in the design of capital adequacy tests. The objective of this paper is to investigate, in the context of bounded financial positions, the class of surplus-invariant acceptance sets. These are characterized by the...

I Operational Models of Risk Assessment -- 1 An Analysis of Underwriting Cycles and their Effects on Insurance Solvency -- 2 A Management Model of a General Insurance Company Using Simulation Techniques -- 3 Classifying Financial Distress in the Life Insurance Industry -- 4 Variability of...

Expected Shortfall (ES) is the average return on a risky asset conditional on the return being below some quantile of its distribution, namely its Value-at-Risk (VaR). The Basel III Accord, which will be implemented in the years leading up to 2019, places new attention on ES, but unlike VaR,...

The rapid pace and increasing convergence of internet, phone and other communications technologies has created extraordinary opportunities for business but the complexity of these new service mixes creates parallel opportunities for fraud and revenue leakage. Companies seeking to use...

"Foreword" -- "Table of content" -- "List of Figures" -- "List of Tables" -- "List of Abbreviations" -- "List of Symbols" -- "1 Fundamentals" -- "2 Risk measurement and risk analysis" -- "3 Risk control" -- "4 Financial risks" -- "5 Performance risks" -- "6 Risk controlling" -- "7...