Principles for Sustainable Insurance: Risk Management and Value
Some of the largest global insurers are actively pursuing the recently enacted Principles for Sustainable Insurance (PSI). While the concept of sustainability is often associated with a governance design that promotes stakeholder value, the PSI do not appear to be a call for stakeholder-focused insurers. Rather, the PSI appear to be about internalizing tacit claims in the operations of insurers. Conceptual and empirical literature on shareholder value maximization suggests that when an insurer honors its tacit claims the value to shareholders increases. A key insight from practice is that a sincere pursuit of the PSI will expand the scope of corporate risk management.
Year of publication: |
2014
|
---|---|
Authors: | Scordis, Nicos A. ; Suzawa, Yoshihiko ; Zwick, Astrid ; Ruckner, Lucia |
Published in: |
Risk Management and Insurance Review. - American Risk and Insurance Association, ISSN 1098-1616. - Vol. 17.2014, 2, p. 265-276
|
Publisher: |
American Risk and Insurance Association |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
Principles for sustainable insurance : risk management and value
Scordis, Nicos A., (2014)
-
A Perspective on the Principles for Sustainable Insurance : Risk Management and Value
Scordis, Nicos, (2014)
-
Zwick, Astrid, (1996)
- More ...