That the recent global financial crisis has put a spotlight on enterprise risk management (ERM) practices for financial service companies, including the insurance industry, is borne out by Towers Watson’s 2010 ERM survey. Most insurers recognize room for improvement in their ERM programs, especially given rising investor interest, looming Solvency II regulatory requirements in 2012 and ever-increasing rating agency expectations.
The global insurance industry witnessed two years of business turbulence following the onset of the financial crisis. This difficult period began soon after Towers Watson’s previous ERM survey, in which many companies reported finding it challenging to integrate effective risk management into their business.
See full Press Release.
Posts
