New paper by the Chief Risk Officer Forum: "Insurance Risk Management Response to the Financial Crisis
14 April 2009 | Surveys, Reports and Ratings | General | Quote from Raj Singh, Chief Risk Officer Swiss Re
At the beginning of April, the Chief Risk Officer Forum (CRO Forum) issued a new paper with the title: "Insurance Risk Management Response to the Financial Crisis" to which Swiss Re and other leading (re)insurance companies contributed substantially. According to the CRO Forum, the importance of pre-emptive and independent risk management approaches for (re)insurance companies is one of several factors that regulators and insurers should bear in mind when considering the lessons learned from the crisis.
Raj Singh, Swiss Re’s Chief Risk Officer, commented:
"The financial crisis has demonstrated the need for an integrated approach to risk management and one that encourages risk managers to think in terms of scenarios. The crisis also reinforced the case for Solvency II as a principle-based, economic, risk-sensitive and prudential approach."
Click here to read the report (PDF file 880kb)
