ERM on WillisWire

Risk Management: Adaptability is Key to Success

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There is no single approach to risk management that will work for all risks nor, for any one risk, is there any one approach to risk management that will work for all times. Rational adaptability is the strategy of altering … Continue reading →


Resilience for the Long Term

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In 1973, CS Holling, a biologist, argued that the “Equilibrium” idea of natural systems that was then popular with ecologists was wrong.He said that natural systems went through drastic, unpredictable changes – such systems were “profoundly affected by random events”.  … Continue reading →


Management is Needed: Not Incentive Compensation

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Many theoreticians and more than a few executives take the position that incentive compensation is a powerful motivator. It therefore follows that careful crafting of the incentive compensation program is all that it takes to get the most out of a … Continue reading →


A Gigantic Risk Management Entertainment System

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As video gaming has become more and more sophisticated, and as the hardware to support those games has become capable of playing movies and other media, video game consoles have now become “Entertainment Systems”.  Continue reading →


Panel at ERM Symposium: ERM for Financial Intermediaries

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Insurance company risk managers need to recognize that traditional activities like underwriting, pricing and reserving are vitally important parts of managing the risks of their firm. Enterprise risk management (ERM) tends to focus upon only two or three of the … Continue reading →


ERM Symposium Panel: Actuarial Professional Risk Management

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In just a few days, actuaries will be the first group of Enterprise Risk Management (ERM) professionals to make a commitment to specific ERM standards for their work. In 2012, the Actuarial Standards Board passed two new Actuarial Standards of … Continue reading →


Has the Risk Profession Become a Spectator Sport?

The 2013 ERM Symposium goes back to Chicago this year after a side trip to DC for 2012. This is the 11th year for the premier program for financial risk managers. Continue reading →


What to Do About Emerging Risks…

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WillisWire has on several occasions featured opinions from a large number of our contributors about what might be the next emerging risk in various sectors. But what can be done once you have identified an emerging risk? Continue reading →


U.S. Insurers Need to Get Ready for ORSA

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Slowly, but surely, and without a lot of fanfare, U.S. insurance regulators have been orchestrating a sea change in their interaction with companies over solvency.  Not as dramatic as Solvency II in Europe, but the U.S. changes are actually happening … Continue reading →


Resiliency vs. Fragility

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Is there really a choice?  Who would choose to be Fragile over Resilient? Continue reading →

– See more at: http://blog.willis.com/author/daveingram/#sthash.xxAR1QAP.dpuf

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Explore posts in the same categories: Compensation, Cultural Theory of Risk, Emerging Risks, Enterprise Risk Management, Risk Culture

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