Towards An Ideal Risk Culture For Reinsurance Companies

Author : Angela Zeier Röschmann
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.10/5 ( download)

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Download or read book Towards an Ideal Risk Culture for (re)insurance Companies written by Angela Zeier Röschmann and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A risk culture concept is developed by integrating insights from organizational and safety culture research with risk management and insurance research and practice. In light of the common call for a sound risk culture, a normative concept outlines those organizational values that are characteristic of an ideal risk culture for (re)insurance companies from the perspective of risk management: uncertainty avoidance, scientific orientation, intrinsic motivation and cooperation. The power of risk culture comes from its influence on how employees perceive the relative priorities of different organizational goals and how perception guides risk behavior. Against this background, the meaning of embeddedness is addressed and the argument is made that the current focus by the risk and insurance practice on alignment and consistency as well as viewing risk culture as a fourth line of defense puts a limit to the understanding and potential contribution of risk culture. Furthermore, the notion of the ideal risk culture is challenged. This doctoral thesis concludes that mind-sets about innovation, agility and risk need to move closer together. A broader understanding of risk culture has the potential to contribute to the inherently needed balance of empowerment and control.

Author : Martina Raue
Publisher : Springer
ISBN 13 : 3319924788
Total Pages : 379 pages
Book Rating : 4.86/5 ( download)

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Download or read book Psychological Perspectives on Risk and Risk Analysis written by Martina Raue and published by Springer. This book was released on 2018-09-18 with total page 379 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative collection goes beyond economic statistics and probability data to offer a robust psychological understanding of risk perception and risk taking behavior. Expert contributors examine various risk domains in life, and pinpoint cognitive, emotional, and personality factors contributing to individual differences in risk taking as well as the many nuances social demographics (e.g., culture, gender) bring to risk decisions. Coverage takes competing theories and studies into account to identify mechanisms involved in processing and acting on uncertainty. And implications and applications are demonstrated in varied fields, from updated risk models for the insurance sector to improved risk communication in health services to considering risk perception in policy decisions. A sampling of the topics: Personality and risk: beyond daredevils—risk taking from a temperament perspective. Cognitive, developmental, and neurobiological aspects of risk judgments. The group effect: social influences on risk identification, analysis, and decision-making. Cognitive architectures as a scaffolding for risky choice models. Improving understanding of health-relevant numerical information. Risk culture as a framework for improving competence in risk management. Psychological Perspectives on Risk and Risk Analysis will be of great interest to researchers in and outside of psychology, including decision-making experts and behavioral economists. Additionally, this volume will appeal to practitioners who often have to make risky decisions, such as managers and physicians.

Author : Gary S. Lynch
Publisher : Wiley
ISBN 13 : 9780470259412
Total Pages : 264 pages
Book Rating : 4.18/5 ( download)

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Download or read book At Your Own Risk! written by Gary S. Lynch and published by Wiley. This book was released on 2008-05-02 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on over thirty years of experience, recognized industry leader Gary Lynch reveals in this essential guide a game plan to identify and manage a range of risks faced in this brave new globalized world of changing market dynamics and complex high-tech value networks. This groundbreaking book articulates an experienced-based and spot-on assessment of risk management realities that all corporations should make core to their corporate cultures.

Author : Michelle Tuveson
Publisher : Cambridge University Press
ISBN 13 : 1108476104
Total Pages : 305 pages
Book Rating : 4.02/5 ( download)

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Download or read book Beyond Bad Apples written by Michelle Tuveson and published by Cambridge University Press. This book was released on 2020-05-28 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argues that risk culture is driven by institutional forces - not "bad apples," as prevailing opinion holds.

Author : Bloomsbury Publishing
Publisher : A&C Black
ISBN 13 : 1849300267
Total Pages : 242 pages
Book Rating : 4.61/5 ( download)

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Download or read book Approaches to Enterprise Risk Management written by Bloomsbury Publishing and published by A&C Black. This book was released on 2010-07-01 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Approaches to Enterprise Risk Management is a multi-author book written by leading experts in the field of risk management including Aswath Damodoran, John C. Groth and David Shimko. It is a valuable tool that enables you to assess the potential business threats, both from within your organization and from external sources. It comprises over 25 chapters covering the range of risks your organization might face including financial, strategic, operational risks. It offers you over 20 practical step-by-step guides on the required steps to cope with any detrimental event that could impact on your company's financial health. There are also a range of checklists including Balancing Hedging Objectives with Accounting Rules (FAS 133) , Creating a Risk Register, What Is Forensic Auditing? And Managing and Auditing the Risk of Business Interruption, Captive Insurance Companies: How to Reduce Your Costs, Hedging Credit Risk-Case Studies and Strategies.

Author : E. Banks
Publisher : Springer
ISBN 13 : 1137263725
Total Pages : 180 pages
Book Rating : 4.28/5 ( download)

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Download or read book Risk Culture written by E. Banks and published by Springer. This book was released on 2012-09-11 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk Culture is a practical volume devoted to the qualitative aspects of risk management, including those that should be firmly embedded in the corporate culture. Through descriptions, examples and case studies, the book analyzes weak and strong cultures and proposes a series of structural and behavioral actions to strengthen a company's culture.

Author : Alessandro Carretta
Publisher : Springer
ISBN 13 : 3319575929
Total Pages : 436 pages
Book Rating : 4.26/5 ( download)

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Download or read book Risk Culture in Banking written by Alessandro Carretta and published by Springer. This book was released on 2017-10-11 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores risk culture in banks following the financial crisis. It analyses the role of national and institutional risk culture, market competitiveness, organisational systems and institutional practices that led to a weakening of risk culture in financial institutions leading up to the financial crisis. It addresses how to assess and measure risk culture, and analyse the impact on performance and reputation. Finally it explores the impact of regulation and a variety of tools that can be applied from the board down to promote a healthy risk culture in the governance of financial institutions internal controls and risk culture in banks.

Author : David L Olson
Publisher : World Scientific Publishing Company
ISBN 13 : 9814632783
Total Pages : 244 pages
Book Rating : 4.82/5 ( download)

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Download or read book Enterprise Risk Management written by David L Olson and published by World Scientific Publishing Company. This book was released on 2015-01-21 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk is inherent in business. Without risk, there would be no motivation to conduct business. But a key principle is that organizations should accept risks that they are competent enough to deal with, and “outsource” other risks to those who are more competent to deal with them (such as insurance companies). Enterprise Risk Management (2nd Edition) approaches enterprise risk management from the perspectives of accounting, supply chains, and disaster management, in addition to the core perspective of finance. While the first edition included the perspective of information systems, the second edition views this as part of supply chain management or else focused on technological specifics. It discusses analytical tools available to assess risk, such as balanced scorecards, risk matrices, multiple criteria analysis, simulation, data envelopment analysis, and financial risk measures.

Author : Marcus Kriele
Publisher : Springer Science & Business Media
ISBN 13 : 1447163052
Total Pages : 383 pages
Book Rating : 4.53/5 ( download)

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Download or read book Value-Oriented Risk Management of Insurance Companies written by Marcus Kriele and published by Springer Science & Business Media. This book was released on 2014-01-14 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value-oriented Management of Risk in Insurance focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have a basic knowledge of probability and familiarity with mathematical concepts. It is intended for working actuaries and quantitative risk managers as well as actuarial students.

Author : Peter Borscheid
Publisher : Oxford University Press
ISBN 13 : 0199689806
Total Pages : 497 pages
Book Rating : 4.04/5 ( download)

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Download or read book The Value of Risk written by Peter Borscheid and published by Oxford University Press. This book was released on 2013-12 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains how today's insurance industry developed and highlights the role of the reinsurance industry in spreading risks globally. The book examines the development of insurance markets and of the reinsurance industry in particular, and the history of Swiss Re, one of the leading reinsurance companies in the world.