Beyond probability‑impact matrices in project risk management: A quantitative methodology for risk prioritisation

The paper proposes a novel approach using Monte Carlo Simulation to quantitatively prioritize project risks based on their impact on project duration and cost, addressing limitations of traditional risk matrices and enabling project managers to differentiate critical risks according to their specific impact on time or cost objectives.

Artificial Intelligence (AI) Governance: An Overview

“This paper looks at global and regional efforts to come up with strategies and regulatory frameworks for AI governance. Chief amongst them include the OECD AI Principles; the EU AI Act; and the NIST AI RMF. The common thread among these frameworks or legislations is identifying and categorizing AI developments and deployments according to their risk levels and providing guidelines for ethical and trustworthy AI with considerations for human safety and innovation.”

Worst‑cases of distortion riskmetrics and weighted entropy with partial information

"The risk measures contain some premium principles and shortfalls based on entropy. The shortfalls include the Gini shortfall, extended Gini shortfall, shortfall of cumulative residual entropy and shortfall of cumulative residual Tsallis entropy with order α."

Regulating by Standards: Current Progress and Main Challenges in the Standardization of Artificial Intelligence in Support of the AI Act

“This paper discusses and analyses the regulatory approach underlying the AI Act, the main issues surrounding the proposed regulation, and the implications for the AI Act's ability to achieve its goals.”

Self‑Governance as a Pillar of Fraud Prevention: A Comprehensive Examination and Practical Recommendations

“ Through an analysis of self-governance practices, including internal controls, ethical conduct, transparency, compliance, board oversight, risk management, auditing, and whistleblower protection, the article elucidates how organizations can effectively combat fraudulent activities.”

Climate Risk, Insurance Retreat, and State Response

"Private businesses are making actuarial decisions, assessing that some locations are just too vulnerable to insure. At the same time, this insurance retreat also poses a policy challenge for states as they react to the mounting insurance gaps left by exiting private insurers."

Estimation of Generalized Tail Distortion Risk Measures with Applications in Reinsurance

New estimators for generalized tail distortion (GTD) risk measures are proposed, based on first-order asymptotic expansions, offering simplicity and comparable or better performance than existing methods. A reinsurance premium principle using GTD risk measure is tested on car insurance claims data, suggesting its effectiveness in embedding safety loading in pricing to counter statistical uncertainty.

The Changing Landscape of Cyber Risk: An Empirical Analysis of Frequency, Severity, and Tail Dynamics

Cyber risk presents significant challenges to society, yet its statistical behavior remains insufficiently understood. This paper analyzes three databases to study cyber risk dynamics. It identifies increasing frequency and severity, particularly in malicious events since 2018. Persistent heavy-tailedness across risk categories implies lower insurance demand and potentially heightened risk levels for firms.

Combining AI and Domain Expertise to Assess Corporate Climate Transition Disclosures

Effective transition to a sustainable economy requires robust emission reduction plans from companies, crucial for capital allocation and risk management. Transition disclosures serve as a market compass towards net-zero goals, mitigating financial risks. Despite various frameworks, inconsistencies persist, prompting a proposed set of 64 indicators for comprehensive assessment using natural language processing.

Dissonance in Climate Disclosure: the SEC, EU, California, and ISSB Regimes

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Major financial centers introduced varied climate disclosure rules, notably Scope 3 mandates. EU and California led with mandates, while the SEC proposed but later removed them in 2024. Challenges include accuracy, standardization, and compliance costs. EU provides institutional support, but the U.S. lacks it, raising reporting stakes.