Best practices in risk management

|Best practices in risk management

CRO Forum Blueprint on Oil Sands

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.

CRO Forum Blueprint on Oil Sands 2012-12-24T09:19:05+00:00

CRO Forum Blueprint on Anti Personnel Mines and Cluster Munitions

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.

CRO Forum Blueprint on Anti Personnel Mines and Cluster Munitions 2017-05-10T20:05:28+00:00

CRO Forum Paper on the Own Risk and Solvency Assessment (ORSA)

In this discussion paper the CRO Forum provides a set of standards that could be applied by insurance undertakings with respect to conducting a self assessment of risk and capital solvency called Own Risk and Solvency Assessment (‘ORSA’).

CRO Forum Paper on the Own Risk and Solvency Assessment (ORSA) 2017-05-10T20:05:29+00:00

Contingency Planning

The Euro area crisis of 2011 has stirred up a certain amount of thought and publication on how to deal with the potential consequences of a possible break-up of the monetary union. In light of these events, the CRO Forum investigates the potential risk management considerations that companies could take with the objective of limiting the potential impact by providing considerations to improve companies’ responsiveness to adversity.

Contingency Planning 2012-04-11T10:41:28+00:00

CRO Forum Sustainability Framework August 2010

As a consequence of globalisation, public expectations have risen that businesses should behave responsibly and accountably in terms of minimizing their environmental and social footprint. Even though this footprint is low for the insurance industry due to the service nature of its operations, headline risk has nonetheless increased.

CRO Forum Sustainability Framework August 2010 2017-05-10T20:05:29+00:00

Internal Model Myths

For a long time, many (re)insurance companies have realized the need for risk-based valuations and solvency capital measurement and have started developing internal economic capital models which suit their needs. This is without prompting from regulators and rating agencies. Why? Such models provide a common measurement basis across all risks (e.g. same methodology, time horizon, risk measure, level of confidence, etc.) and are a powerful tool for strategic decision-making, for example in capital allocation and pricing.

Internal Model Myths 2009-09-01T12:38:20+00:00