C ASUALTY A CTUARIAL S OCIETY. Enterprise Risk Management – Post 9/11 A Benefit or a Fad?. Jean-Pierre Berliet Ernst & Young LLP Casualty Actuarial Society Risk and Capital Management Seminar July 8-9, 2002. Risk Management Post 9/11 and Enron Events.
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CASUALTY ACTUARIAL SOCIETY
Enterprise Risk Management – Post 9/11A Benefit or a Fad?
Ernst & Young LLP
Casualty Actuarial Society
Risk and Capital Management Seminar
July 8-9, 2002
Develop Alternative Strategiesand Optimize
Increase in Capital
Exposure Management &Risk Retention Strategy
Increase in“Market RiskPremium”
Changes in CompanyInfrastructure &Risk Transfer
Return on ERM is very high
Huge opportunity cost of not implementing “ERM”
Identifying significant incremental benefits from comprehensive approach is difficult
Developing approach to managing each risk type does not require costs and complexity of “ERM”
Analysis of exposures by insurance line
Analysis of direct exposure in investment portfolio
Analysis of indirect exposure through issuance of risk covers
Exposure management approach