SOURCE: Simba Information

Simba Information

March 04, 2009 11:08 ET

Insurers Adopting New Risk Management Processes

STAMFORD, CT--(Marketwire - March 4, 2009) - Simba Information reports that MarketResearch.com has announced the addition of TowerGroup's new report "Risk Governance for Life Insurers: The Self-Help Plan for a Recovering Industry," to their collection of Insurance market reports. For more information, visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2087386

Many life insurers, like their banking cohorts, have taken on too much risk too quickly, while overextending their geographic and product reach and paying little attention to the impact of managing long-term risk.

Senior line-of-business leaders, executives, and board members should have a broad cross-business view of risk, ensuring that they can look into any risk area across the enterprise and quickly reconcile it with internal controls.

Strategy and governance are the foundational elements of supporting a business's processes for risk management and must drive the business's long-term goals and objectives.

Risk management must be pervasive in an institution's organizational culture: Effective and actionable risk management practices by top insurers are communicated throughout every level of the organization.

Although risk governance processes vary from insurer to insurer, depending on the current risk profile, risk governance requires an architectural view that insurers must continuously examine for efficacy as market and organizational conditions change.

Report Coverage

--  The Contagion of the Global Credit Crisis
--  Risk and the Drive for Profits
--  Risk, Regulation, and Technology
--  Governance Success Story: A Global Insurer's Risk Management Practices
--  Risk Governance
--  Summary
    

For more information visit http://www.marketresearch.com/redirect.asp?progid=67618&productid=2087386

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