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Global Convergence of ERM Requirements in the Insurance Industry

 Role of Own Risk and Solvency Assessment in Enterprise Risk Management
Date: Wednesday February 16, 2011
Time: 10 am EST | 4 pm CET | 3pm GMT
Duration: 1 hour
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Insurance companies tend to look backwards to see if there was enough capital for the risks that were present then. It is important for insurance companies to be forward looking and assess whether enough capital is in place to take care risks in the future. Though it is mandatory for insurance firms to comply with solvency standards set by regulatory authorities, what is even more important is the need for top management to be responsible for certifying solvency. Performing Own Risk and Solvency Assessment (ORSA) is the key for the insurance industry. Join this MetricStream webinar that covers the following aspects:-

  • Global Convergence of ERM Regulatory requirements with NAIC adoption of ORSA regulations
  • Importance of evaluating Enterprise Risk Management for ORSA
  • When to do an ORSA and what goes in an ORSA report?
  • Basic and Advanced ERM Practices
  • ORSA Plan for Insurers
  • Role of Technology in Risk Management
Panelists

David IngramDavid Ingram - CERA,FRM,PRM, Senior Vice President, Willis Re
Dave has been providing ERM and Capital advisory services to Willis RE based in New York, being a member of its eVALUATE team for the past 2 years. Dave was previously the Senior Director, ERM in the Insurance Ratings Group of Standard and Poor's, New York where he spearheaded S&P's initiative to incorporate ERM as one of the primary ratings criteria and the development of the framework for reviewing economic capital models. Dave has authored over 40 published articles relating to ERM. His paper "Risk and Light" won the 2009 Best Practical Paper award at the ERM Symposium. He has spoken on ERM at over 100 events organized by PRMIA, GARP, SOA, IAA, Goldman Sachs, and S&P in North America. He was the first Chair of the 3000 member Joint SOA/CAS/CIA Risk Management Section. Dave is the Chair of the Enterprise and Financial Risk Committee of the International Actuarial Association.


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