The focus on risk management has intensified as crises have roiled through markets, such as the collapse of major corporations due to mismanagement and daily developments on Wall Street arising from poor management of credit risk–including the federal bailout of the world's largest insurer, American International Group, and other financial institutions.
Over the last few decades, hazard risk management has developed from its roots in insurance purchasing to become a core part of a company's capital management strategy, similar to financial risk management. In short, risk managers now view risk management as financial management, and are making insurance purchasing decisions accordingly.
Those with an understanding of risk-transfer vehicles–who can accurately judge the relative cost and value of each under different scenarios–stand to improve their company's financial and governance profiles.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
