A Web-based survey at the onset of the credit crisis last year found insurance executives very confident about their ability to manage risks and opportunities–an attitude mirroring their counterparts in banking and other industries.
However, firms with good enterprise risk management were found to have less unfounded confidence, according to the global study by Stamford, Conn.-based consulting firm Towers Perrin and the Economist Intelligence Unit.
Towers Perrin said it determined that insurance executives were among the most confident sector, which it called “not surprising, given that they are in the business of risk.”
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