Risk Classifications
This term refers to how easily an asset can be turned into cash.
What is Liquidity?
A mathematical principle stating that as the number of similar but independent exposure units increases, the relative accuracy of predictions about future outcomes (losses) also increases.
What is the law of large numbers?
This set of standards governs the financial accounting practices used in the insurance industry: GAAP
What are Generally Accepted Accounting Principles?
This group oversees the Company's accounting and financial reporting, planning & budgeting process, global reinsurance operations, accounting policy and regulatory compliance.
What is the Comptroller Group?
This game, played with a four-sided spinning top, is popular during Hanukkah.
What is dreidel?
Unlike pure risk, which offers no chance of gain, this type of risk involves both the potential for gain and loss, often seen in business ventures and investments.
What is Speculative Risk?
This distribution, also known as the Gaussian distribution, is characterized by its bell-shaped curve and is widely used in statistics.
What is the Normal Distribution?
This three-letter abbreviation stands for the total market value of all the financial assets that an entity governs for its clients.
What is AUM (Assets Under Management)?
This group represents a community of caring that empowers you to be a positive force where you live and work.
What is Liberty Torchbearers?
In Charles Dickens' "A Christmas Carol," this ghost visits Ebenezer Scrooge first.
Who is Jacob Marley?
This term describes risks that arise from internal factors within an organization, such as system failures or employee errors.
What is Operational Risk?
This metric, used to evaluate the profitability of an insurance company, is calculated as
(Incurred Losses + Expenses) / Earned Premium.
What is a Combined Ratio?
This abbreviation "IoT" describes a network of objects that transmit data to computers.
What is the Internet of Things (IoT)?
This is what LEGIT stands for within the Liberty ERG groups
What is Liberty Encouraging Girls in Technology?
This fried food, made of shredded potatoes, is traditionally eaten during Hanukkah.
What are latkes?
This term describes the perceived amount of risk based on an individual's or organization's opinion.
What is Subjective Risk?
This measure of variability indicates how much individual data points differ from the mean.
What is Standard Deviation?
This system, abbreviated as NAICS, is used by Federal statistical agencies to classify business establishments for collecting, analyzing, and publishing statistical data about the U.S. economy.
What is the North American Industry Classification System (NAICS)?
This ERG has the second highest number of members within Liberty
What is LEADA (Liberty Employees of African Descent & Allies)?
In Spain, people eat 12 of these at the stroke of midnight for good luck in the New Year.
What are grapes? What is Auld Lang Syne?
This risk term describes the potential for a major disruption in the function of an entire market or financial system.
What is Systemic Risk?
This type of analysis is used for determining the relationship between a dependent variable and one or more independent variables.
What is a Regression Analysis?
This act protects the privacy and security of individuals' medical information and data. HIPAA
What is the Health Insurance Portability and Accountability Act (HIPAA)?
This is the Ignite Robot that you can follow on the Communities page for all your Ignite Hackathon updates.
Who is Bitney?
This traditional Christmas carol mentions "figgy pudding."
What is "We Wish You a Merry Christmas"?