ERM Concepts [22]

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Bullet points include: See e.g. S&P (2005). Insurance Criteria: Evaluating The Enterprise Risk Management Practices Of Insurance Companies. Describes how ERM included in their rating analysis of insurers and reinsurers. Good evaluation methodology, but document itself is marketing literature. Are credit ratings agencies expert in assessing risk management competence? Credit rating versus regulatory capital requirements. Risk appetite often framed by reference to rating criteria. Influence on cost of capital

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