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ERM concepts and Risk categorisation [40]

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Bullet points include: Are people running the firm using common sense and prudence? Do they have a comprehensive overview of firm’s risks and solvency needs? The ORSA should be key for all persons effectively running the firm An ongoing task that includes: Keeping the persons effectively running the firm aware of the impact of own risks on overall solvency needs at all times Identifying strengths and weaknesses in governance and organisation Facilitating decisions on how to mitigate risks by capital, reinsurance, organisational actions and other risk mitigating activities

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