engleski

ERM in insurance companies – a way to manage and control underwriting risk

Management and controlling of business risks started to be increasingly important because stakeholders of companies tend to be more and more aware of different types of risks companies are exposed to. Enterprise Risk Management (ERM) is a modern way of managing and controlling risk. From today's perspective, this way of managing and controlling risk is the most comprehensive and is useful in companies different characteristics and from different industries, as it is based on recognizing all types of risk and managing the portfolio risk. Therefore it is also very useful in management of professional risk takers - insurance companies. A goal of this paper is to explain the importance and basic elements of ERM, to show basic types of risks which are important to recognize in the integrated approach of risk management, steps of the process as well as its advantages and limitations. The goal is to explain in details the use of ERM in insurance companies

controlling ; enterprise risk management ; insurance companies ; risk management

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