The Global Risks Alliance (GRA)
Topics at Insurance Nexus: the pages in this section are listed below, each with its own scope and status.
GRA · Established · service level R0
The Insurance Nexus topics are the nine subject dossiers of its field, among them insurance market structure, underwriting and pricing risk, and property and casualty. Each dossier sets out how the risk develops, what is measured and in which units, the public sources and their licences, the methods, who decides and the limits of the evidence.
GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval.
Topic pages in Insurance Nexus share one structure: mechanisms, indicators, sources, methods, decisions and limits, written for underwriters and portfolio managers and catastrophe and pricing actuaries.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Insurance penetration | Gross written premium as a share of gross domestic product, a measure of how much insurance an economy buys. |
| Loss ratio | Incurred claims divided by earned premium for a period or a line of business. |
| Average annual loss | The expected insured loss per year from a peril, averaged over all simulated years of a catastrophe model. |
| Longevity risk | The risk that people live longer than assumed, so annuities and pensions pay out for longer than they were priced and reserved for. |
| Operational resilience | A firm's ability to prevent, adapt to, respond to, recover from and learn from operational disruption while keeping important business services running. |
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
Carriers, brokers and risk transfer roles.
TopicRisk factors, data limits and role boundaries.
TopicCatastrophe and portfolio exposure.
TopicSocial, health and longevity risk.
TopicContinuity, fraud and claims systems.
TopicUnderinsurance and loss transmission.
TopicPhysical exposure and insurability.
TopicAI model governance and customer effects.
TopicTakaful insurance research, governance and risk distinctions.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.