Marsh & McLennan Companies’ Global Risk Center has published a new report, The Emerging Risks Quandary. Many companies struggle to articulate the precise relevance of global and emerging risks to their business, and are poorly organized to make timely decisions. This report explores what impedes corporate efforts and sets out how companies can blend creativity and pragmatism to look beyond predictable and controllable risks to complex uncertainties that have the potential to generate more than mere volatility in corporate earnings.
Posts Tagged ‘oliver wyman’
Micah Woolstenhulme, Manager, ERM Services, Strategic Advisory
The Insurance Risk Benchmarks Research is an ongoing project sponsored by Guy Carpenter & Company and Oliver Wyman to assist property/casualty (P&C) companies with profiling enterprise risk. Articulating an individual company’s risk profile requires assessment of both absolute and relative financial uncertainties. The absolute uncertainties can ultimately be codified in an economic capital model, but robust review of relative historical performance invariably improves the codification of certain systemic risks.
Guy Carpenter and Oliver Wyman, both wholly owned subsidiaries of Marsh & McLennan Companies, released the 2014 Insurance Risk Benchmarks Research: Annual Statistical Review, the first in a two-part series detailing research executed in collaboration with Columbia University. This, the fourth annual report, provides detailed analysis and insight on the property/casualty industry to help insurers strategically evaluate and benchmark inputs to economic capital models.
The National Association of Insurance Commissioners’ (NAIC’s) Own Risk and Solvency Assessment (ORSA) goes into effect on January 1, 2015. Currently, many (re)insurers are in the process of developing and implementing their ORSA plans and approaches to the new regulation. They may be challenged over how much work has yet to be done and how best to do it. However, while some of the challenges are understandable, through “Business Management Integration” (BMI) there is an easier and more reliable way to approach this new regulation.
When banks in Europe and the United States become unable to honor their financial obligations in 2007 and 2008, governments bailed them out. But why? The standard answer is that politicians faced a terrible choice. They had to choose between saving insolvent banks largely “as is” in the short-term, or unleashing economic chaos. Recovery and Resolutions Plans (RRPs) are supposed to stop such a dilemma arising again.
Here we highlight GC Capital Ideas’ recent top stories covering the evolving Solvency II capital requirements regime.