Top 10 risks most likely to affect the insurance sector during 2009
Ernst & Young continues to be heavily engaged around the world in seeking to identify leading practices in the area of risk management. Properly approached, the process of risk management can add value even if, fortunately, the feared events never happen. In working through scenarios and impact analysis, companies may find many opportunities to tighten processes and controls that make them more agile and able to operate more effectively in whatever market conditions arise.
Our work with companies around the world suggests that there is a body of leading risk management practice emerging, but that many companies are still doing too little in this area. Our research has shown that, while strategic risks have become more important, companies have been focusing on the easier-to-manage areas of operational risks. In looking to general practice, the implications for different sectors can be blurred.
We have consulted widely, but this is not an exhaustive list of risks. Inevitably, it is a snapshot of our view of the risks at this time. We encourage you to read this report in a questioning manner since some of the risks, and weightings that we attach to them in the rankings, may differ from those that you would apply. You should have your own equivalent of the risk radar, and an ongoing dialog around this, within your organization.
Download Top 10 risks most likely to affect the insurance sector during 2009 (pdf, 583.2kb)
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