Modeling mortality dependence for multiple populations has significant implications for mortality/longevity risk management. A natural way to assess multivariate dependence is to use copula models. The application of copula models in the multi-population mortality analysis, however, is still in...

In this paper, we employ the theory of real option pricing to address problems in the area of operational risk management. Particularly, we develop a two-stage model to help firms determine the optimal suspension-reactivation triggers in the events of pandemics. In the first stage, we propose a...

In this paper, we investigate peer effects in corporate risk management by studying reinsurance utilization in the U.S. property-casualty insurance industry due to the unique risk management feature of this industry and the statutory disclosure requirement of detailed reinsurance transactions....