Tag Archives: ERM

How to Communicate With Your CEO About Risk

Talking to CEO

What’s the job of a CEO? When you come down to it, a CEO’s job is to make decisions. The right decisions. Knowing your CEO’s priorities is key to communicating effectively. Continue reading →

ERM in Practice: Risk Limits and Controls

speedometer

One of the core elements of a thorough ERM strategy involves setting risk limits and controls. This practice forms an essential link in every organization’s risk management cycle, which includes identifying, assessing, taking, mitigating, monitoring, and responding to risk. Continue reading →

ERM in Practice: Risk Identification

police lineup

Insurers recognize the importance of identifying and classifying their important risks as a major organizing idea for their ERM processes. For our ERM in practice series, we’ve looked to the 2013 annual reports of a dozen global insurance and reinsurance … Continue reading →

ERM in Practice: Risk Measurement

ruler

In our second installment of the ‘ERM in Practice’ series, we look specifically into the 2013 Annual Reports of eight global insurance companies (five European and three Non-European) and four international reinsurance groups with the purpose of identifying commonalities in … Continue reading →

ERM in Practice: Risk Organization

chess defense

Discussions of enterprise risk management (ERM) practices often seem almost totally theoretical. But in fact, those practices are very real for many companies. One of the most important aspects of an ERM program is the “who” of ERM. We call … Continue reading →

Using a Financial Impact Analysis to Define Risk Tolerance

Analytics

Many of the world’s leading corporations do not have an explicit and agreed definition of their risk tolerance or appetite. We facilitate and guide many clients in this area. An important tool for us to start a conversation about tolerance … Continue reading →

What Effect are New Regulatory Requirements Having on Risk and Insurance Managers?

overwhelmed risk manager

While I have been a broker for eight years, the 20-plus years I spent as a risk manager at a financial institution still dominate my outlook on issues. I will no longer fight it—resistance is futile! So welcome to my … Continue reading →

The Difference Between Risk and Loss

risk vs loss

Risk management has caused many people to substitute one four-letter word for another. They will use the word RISK when they should be saying LOSS. And there is a world of difference between the two. It is the difference between … Continue reading →

Is Risk Changing or is it All in our Heads?

All in your head

Accurately identifying and prioritising risk is crucial for business success and, more specifically, to help risk managers decide on investment priorities. Establishing a rational, dispassionate view of risk helps with making a more informed decision about how to treat that … Continue reading →

Adapting to Climate Change: Insurers as Bellwether

ClimateChange_Reinsurance

Insurance touches and is touched by much of human activity around the globe.  So it should not be a surprise that insurers can be expected to be a bellwether for the economic impact of climate change. Continue reading →