Category Archives: Insurance and Risk Management

3 types of enterprise risk management and their roles in strategy

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There are many ways for enterprise risk management to be strategic, even without the risk reward component. But if you are a CRO and want to be seen as an obvious contributor to strategy, you need to keep the four stages of strategy and the contributions that your ERM program can make in mind throughout the year. Continue reading →

Settlement deliberations are not privileged

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You sit on the board of a company which is sued for £100 million. The company’s lawyers advise that the claim is a try-on and should be resisted. Three years later, after £2 million has been spent on defense costs … Continue reading →

4 key steps to business strategy for CROs

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When we talked to 20 insurance executives about enterprise risk management and strategy, most responded to our questions with suggestions of how ERM teams could become more successful by interacting with planning and budgeting colleagues. But there’s more to strategy than planning and budgeting. Continue reading →

Start with these 3 functions when thinking about enterprise risk management

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This post is part of our “A Year in the Life of the Strategic CRO” series and is the first of three posts that will focus on the foundational elements of strategic enterprise risk management. How and which aspects of … Continue reading →

How will automation, AI and other technologies change the insurance industry as we know it? Two expert opinions

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How is technology impacting the insurance industry and what do we expect to see in the years to come? To find out, we sat down Alice Underwood, Global Leader of Insurance Consulting and Technology and Dave Ovenden, Global Pricing and … Continue reading →

2019: The year regulators force insurers to account for sustainability risks on their balance sheets

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The European Insurance and Occupational Pensions Authority (EIOPA) has released its latest sustainability proposals (EIOPA-BoS18/483), which are wide ranging and could have significant implications for insurers’ investment strategies, risk and actuarial functions, product pricing, design and sales processes. They involve … Continue reading →

The truth about directors’ duties in the U.K. and the business judgment rule

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Between 1742 and 2017 it seems there have been 130 cases in which the discharge of directors’ duties in the specific context of the business judgment rule has come under scrutiny by the English courts. In 82 of these, the … Continue reading →

Key steps for protecting your supply chain against terror attacks

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Terror attacks on global supply chains are on the rise. A report from British Standards Institute (BSI) estimates a 16% year-over-year increase within the last decade, with terrorist organizations striking supply chains an average of once a week. The report … Continue reading →

An employer’s guide to offering identity theft protection coverage to employees

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Identity theft protection (ID theft protection) is one of the fastest-growing benefits offered to employees today. But like many offerings that are relatively new to the market, employees may not fully understand how it works or what features such as … Continue reading →

Expansion has its challenges: Realizing the risks of China’s Belt and Road Initiative

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The cornerstone of Chinese foreign policy provides domestic businesses with an opportunity to expand into new territories and develop new products and services. But there are dangers lurking within the possibilities. It’s a maxim in the insurance industry that with … Continue reading →