Enterprise Risk Analysis for Property & Liability Insurance Companies PDF Download

Author: Paul J. Brehm
Publisher: Guy Carpenter & Company C2007
ISBN: 9780615133560
Category : Insurance
Languages : en
Pages : 291

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Author: Jing Ai
Publisher:
ISBN:
Category :
Languages : en
Pages : 37

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Book Description
In a well-designed enterprise risk management (ERM) program, the firm integrates risk management into the strategic planning process, addressing strategic risk, financial risk, operational risk, and hazard risk under a single overarching process. This is particularly important to large financial firms, such as property and casualty (P&C) insurers, which face a diverse set of risks. We find that ERM quality, as measured by S&P ERM ratings from 2006-2012, has a strong positive affect on ROA and Tobin's Q for P&C insurers. In contrast to previous studies that have found that diversified firms suffer a value discount relative to their more focused peers, the results of this study suggest that, after controlling for ERM quality, business line diversification is associated with a performance premium whereas geographic diversification is not a significant factor.

Author: J. David Cummins
Publisher: Springer Science & Business Media
ISBN: 9400956584
Category : Business & Economics
Languages : en
Pages : 321

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The Geneva Association and Risk Economics The Geneva Association The Geneva Association (International Association for the Study of Insurance Economics) commenced its activities in June 1973, on the initiative of twenty-two members in eight European countries. It now has fifty-four members in sixteen countries in Europe and in the United States. The members of the association are insurance companies which provide financial support for its activities. The aims and strategy of the Geneva Association were clearly defined in 1971 by the founding committee. They were set forth in the first report to the Assembly of Members in 1974: "To make an original contribution to the progress of insurance by objective studies on the interdependence between economics and insurance." In pursuit of this objective, the Association strives to place insurance problems in the context of the modern economy and to overcome the antagonism between different groups and institutions by showing that they all have a common interest in tackling the problem of risk in a changing world. In consequence, the studies made by the Association had to move away from the subjects familiar to insurance professionals and explore related fields, dealing with opinions and behavior falling outside the profession's vii FOREWORD viii traditional framework of analysis. It is in this direction that the Association's preoccupations have been directed from the beginning, towards areas in which insurance activities come into contact with those of other economic sectors such as government, banking, manufacturing, and households.

Author: Baranoff
Publisher:
ISBN: 9781936126187
Category : Electronic book
Languages : en
Pages :

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Author: Marcus Kriele
Publisher: Springer Science & Business Media
ISBN: 1447163052
Category : Business & Economics
Languages : en
Pages : 383

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Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value-oriented Management of Risk in Insurance focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have a basic knowledge of probability and familiarity with mathematical concepts. It is intended for working actuaries and quantitative risk managers as well as actuarial students.

Author: Thomas S.Y. Ho
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Risk management techniques used in banks and trading floors are generally not applicable to insurance companies. Risk measures and risk monitoring approaches must be developed to respond to the challenges to the insurance industry. This paper describes the current risk management practices for both life and general insurance businesses, and proposes the corporate model approach that extends the present approaches to provide corporate management solutions, enterprise risk management in particular, for insurers.

Author: Samuel H. Weese
Publisher:
ISBN:
Category : Insurance law
Languages : en
Pages : 212

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Author: Georges Dionne
Publisher: Springer Science & Business Media
ISBN: 1461401550
Category : Business & Economics
Languages : en
Pages : 1133

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Book Description
This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.

Author: Andreas Grünbichler
Publisher:
ISBN:
Category :
Languages : en
Pages : 11

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The term Enterprise Risk Management (ERM) represents a holistic approach to managing the risks that a company faces in a changing environment. Risk can be considered as a function of change, and risk management may thus be described as a technique for coping with the effects of change. Although risk management practices and methodologies have been around for decades, the area of ERM has recently gained attention from executive management, investors, rating agencies, regulators and academics.While risk management functions initially only monitored adherence to risk and other policies, they later on implemented the first risk measurement and quantification approaches. The next natural step was that risk management not only provided the risk status, but also took responsibility for hedging and risk mitigation activities, followed by satisfying the need for more risk-and-return analysis and recommendations. Nowadays, risk management functions further ex-pand their activities into the area of strategic analysis and business decision support. To put it in other words, risk management has moved from a passive analysis and quantification function to a proactive business enabler and strategy consultant role.Organizations of all types and sizes face a range of risks affecting the achievement of their objectives and influencing all decision-making. ERM supports intelligent and effective decision-making in order to optimize the level of calculated risk taken and to recognize opportunities where taking risks might benefit the organization.Zurich Financial Services defines Enterprise Risk Management as the structured Group-wide view to identifying, measuring, managing, reporting and responding to risks that affect the achievement of Zurich's strategic and financial objectives, including both upside and downside risks on both sides of the balance sheet.

Author: American Institute of Certified Public Accountants. Insurance Companies Committee
Publisher:
ISBN:
Category : Liability insurance
Languages : en
Pages : 598

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