Also, this is true, but I think it doesn't disagree with my point. I just dread the length of my Own Risk and Solvency Assessment (ORSA) after Solvency II (the

Also, this is true, but I think it doesn't disagree with my point. I just dread the length of my Own Risk and Solvency Assessment (ORSA) after Solvency II (the regulations for insurance companies in Europe) takes hold next year, if I have to explain the origins of my priors. I actually think we could do some fuck-awesome work in evaluating our risk capital requirements using priors on all of of our inputs, and the computational requirements would not be 'that' frightening, given the valuations are all Monte Carlo anyway. It's not happening, yet, though.