Tag Archives: ERM

Guide to ERM: Risk Identification

There are a number of common threads linking the emerging regulatory guidelines; one of these is the fundamental importance of risk identification. Continue reading →

Guide to ERM: Risk Appetite and Tolerance

fork and plate

Insurers are increasingly being asked to explain their approach to risk management and as a part of that discussion to clarify their risk appetite. Rating agencies are all asking about risk appetite. Regulators around the world will all soon require … Continue reading →

The Difference Between Risk and Loss

risk vs loss

Risk management has caused many people use the word RISK when they should be saying LOSS. And there is a world of difference between the two. Continue reading →

Guide to ERM: Stress Testing

egg in vice

Generally speaking, a stress test is an assessment of the financial impact of changing a specific variable, without regard to the likelihood of this change. Continue reading →

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 →