“An ounce of Prevention is worth a pound of cure” - Benjamin Franklin (1706-1790). In the present day scenario of U.S. critical infrastructure security, one may ask if Benjamin Franklin's words can provide guidance and confidence on how decision makers and policy makers of this country treat...

Many systems and projects that concern systems engineers, engineering managers, and business managers today can be defined as system of systems (SoS), which are described as ambiguous, uncertain and dynamic, among others. In addition to the traditional view on risk identification, analysis and...

There has been compelling signs of the great potential of building further synergy with academics, researchers, and industry practitioners from the areas of Modeling and Simulation (M&S) managing risk events. This paper provides an introduction to risk management and how M&S has permeated the...

Cover -- Contents -- List of Figures -- List of Tables -- Preface -- Acknowledgments -- Part I: Fundamentals of Operational Risk Management -- Chapter 1: Introduction to Operational Risk -- Chapter 2: The Risk Management Process -- Part II: Managing Operational Risks -- Chapter 3: Tools and...

Increasing costs of long-term care are placing ever greater burdens on state and federal budgets, yet private long-term care insurance remains a relatively minor financing vehicle. Although many researchers provide rationales for the limited private market, some life-health insurers have forged...

Regulatory separation theory indicates that a system with multiple regulators leads to less forbearance and limits producer gains while a model of banking regulation developed by Dell'Ariccia and Marquez (2006) predicts the opposite. Fragmented regulation of the US life insurance industry...

Financial researchers initially regarded hedging activities as a means to reduce total firm risk, which often is defined in terms of cash flow volatility. More recently, researchers have focused on the strategic allocation of risk. Direct tests of risk allocation have been problematic, however,...