The smart phone checking your blood pressure, your car’s navigation system, your web navigation - just three examples of solutions that, in addition to making your daily life easier, produce data representing your health and [...]
Casualty accumulation is the concentration of insured risks or insurance coverages that may be affected by events or circumstances that cause substantial losses under several insurance policies, and potentially over multiple years and geographies. In [...]
Risk culture is at the centre of attention in almost all industries. Leadership pressure, higher consumer protection standards, negative public reputation and regulatory requirements are driving risk culture up the organisational agenda. This paper aims [...]
The topic of risk appetite has exploded in recent years, especially since the global financial crisis. Risk appetite frameworks (“RAF”) and risk appetite statements (“RAS”) continue to evolve, and companies are at different stages [...]
The digital revolution is bringing many benefits to society and business, but the growing reliance on information technology and the internet is increasing the exposure to cyber risk. For insurers, this threat stems from the [...]
In 2014 the CRO Forum members have developed a recommendation for minimum data standards for reporting loss events to an operational risk (OpRisk) loss data consortium. Currently, different providers for loss database services use their [...]
The 2014 White Paper on Operational Risk is an update to the 2009 CRO Forum White Paper. The primary objective is to highlight the development of operational risk in the insurance industry. The White Paper [...]
The purpose of this paper is to raise general awareness of the sustainability challenges related to the extraction of oil sands. In addition, the paper sets out possible ways of how (re-)insurance companies, from a risk management perspective, could address business transactions in relation to oil sands. It should be noted that the paper does not present any technical, legal, financial or underwriting views.
The purpose of this paper is to raise general awareness of the issues related to APMs and cluster munitions and the consequent reputation risks. In addition, the paper sets out possible ways of how (re-)insurance companies, from a risk management perspective, could address business transactions in relation to APMs and cluster munitions.
In light of the heightened regulatory interest in Recovery and Resolution, this CRO Forum Paper highlights the good risk management practices that insurers should undertake to avoid the requirement for resolution