Insurance provides a valuable contribution to society by enabling customers to protect themselves from the consequences of risks that may otherwise be unaffordable. The aim of the industry is therefore to provide products that meet [...]
The CRO Forum believes that scenario analysis and stress testing are valuable tools for (re-) insurers’ risk and capital management processes. They provide important insight and complement results from internal economic models. There is a [...]
Risk appetite has been at the forefront of risk management discussion, especially since the global financial crisis. We are therefore pleased to introduce our latest publication “Establishing and Embedding Risk Appetite: Practitioners’ view” which is [...]
Food risk, whether food insecurity or unsafe food, has wide ramifications for society and businesses, exposing risk managers and insurers both directly and indirectly to a large number of risks. Different areas of business and [...]
Diversification is at the heart of insurance business and risk management. The CRO Forum continues to believe that recognising diversification benefits provides a key tool in meeting policyholder protection and financial stability objectives. This paper [...]
This paper is the fourth blueprint in our series on managing environmental, social and governance (ESG) challenges in business transactions, focusing on the core functions of the insurance industry – risk transfer and investments. Environmental, [...]
The International Association of Insurance Supervisors (IAIS) is participating in a global initiative, with the Financial Stability Board (FSB) and the G20, to identify potential global systemically important insurers (G-SIIs). As part of this initiative, the IAIS has issued a public consultation on proposed measures to identify any insurers whose distress or disorderly failure, because of their size, complexity and interconnectedness, would cause significant disruption to the global financial system and economic activity. The CRO Forum responded to the IAIS draft policy measures. This paper provides some additional background to the response provided.
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.
Human and animal life is widely exposed to many artificial substances that interfere with the sensitively constructed hormonal system. Substances that interfere with hormones are called Endocrine Disrupting compounds/chemicals (EDC). EDCs are a truly emerging [...]
Recent and pending EU Anti-discrimination law (Directives, European Court of Justice ruling) poses a major challenge to the insurance industry. In this paper, the CRO Forum expresses their views on how such legal framework affects [...]
