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The Impact of Enterprise Risk Management on the Marginal Cost of Reducing Risk : Evidence from the Insurance Industry
Eckles, David L. - 2014
We test the hypothesis that practicing Enterprise Risk Management (ERM) reduces firms' cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...
Persistent link: https://www.econbiz.de/10013055318
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Identifying scenarios for the own risk and solvency assessment of insurance companies
Aigner, Philipp - 2023
Most insurers in the European Union determine their regulatory capital requirements based on the standard formula of Solvency II. However, there is evidence that the standard formula inaccurately reflects insurers’ risk situation and may provide misleading steering incentives. In the second...
Persistent link: https://www.econbiz.de/10014252282
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The impact of enterprise risk management on the marginal cost of reducing risk: Evidence from the insurance industry
Eckles, David L.; Hoyt, Robert E.; Miller, Steve M. - In: Journal of Banking & Finance 43 (2014) C, pp. 247-261
We test the hypothesis that practicing enterprise risk management (ERM) reduces firms’ cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...
Persistent link: https://www.econbiz.de/10010777133
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Reprint of: The impact of enterprise risk management on the marginal cost of reducing risk: Evidence from the insurance industry
Eckles, David L.; Hoyt, Robert E.; Miller, Steve M. - In: Journal of Banking & Finance 49 (2014) C, pp. 409-423
We test the hypothesis that practicing enterprise risk management (ERM) reduces firms’ cost of reducing risk. Adoption of ERM represents a radical paradigm shift from the traditional method of managing risks individually to managing risks collectively allowing ERM-adopting firms to better...
Persistent link: https://www.econbiz.de/10011118051
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A pandemic business interruption insurance
Louaas, Alexis; Picard, Pierre - 2020
We analyze how pandemic business interruption coverage can be put in place by building on capitalization mechanisms. The pandemic risk cannot be mutualized since it affects simultaneously a large number of businesses, and furthermore, it has a systemic nature because it goes along with a severe...
Persistent link: https://www.econbiz.de/10012387545
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Risk diversification by European financial conglomerates
Slijkerman, Jan Frederik; Schoenmaker, Dirk; Vries, … - 2005
We study the dependence between the downside risk of European banks and insurers. Since the downside risk of banks and insurers differs, an interesting question from a supervisory point of view is the risk reduction that derives from diversification within large banks and financial...
Persistent link: https://www.econbiz.de/10011346454
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Obstacles to implementation of solvency li regime in nonlife insurance companies in Bosnia and Herzegovina
Kozarevic, Safet; Sain, Zeljko; Hodzic, Adela - In: UTMS journal of economics / University of Tourism and … 5 (2014) 2, pp. 199-211
insurers to keep their solvency at the necessary level. Insurance companies in the European Union work on the implementation of … better connection of capital and risk profile, increased transparency, and higher flexibility of insurance companies … analysis of the current condition of the insurance market in BiH was made. By using the primary research and applying the …
Persistent link: https://www.econbiz.de/10010439067
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The role of frictional costs for insurance pricing and insurer default risk
Schlütter, Sebastian - 2011
welfare by implementing appropriate tax and subsidy schemes that make insurance more affordable and also lower insurers …
Persistent link: https://www.econbiz.de/10009565075
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Compliance Risk in the European Insurance Industry : Setting a Common Playing Field
Sottocornola, Matteo - 2016
This paper investigates the concept of compliance risk in the European insurance industry. In the absence of a common … to insurance companies based in Germany and Austria by posing a set of questions on the perception, materiality …
Persistent link: https://www.econbiz.de/10012978558
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On the Exposure of Insurance Companies to Sovereign Risk – Portfolio Investments and Market Forces
Düll, Robert - 2015
risk. This paper focuses on the transmission of sovereign risk to insurance companies as some of the largest institutional … investors in the sovereign bond market. We use a firm level panel dataset that covers large insurance companies, banks and non … reflected in current insurance regulation (incl. upcoming Solvency II in Europe) …
Persistent link: https://www.econbiz.de/10013013087