Editor's Note: This article originally appeared in National Underwriter, P&C.
While good governance, modeling and disclosure are vital to insurance risk management, the risk manager also has a pivotal role to play in creating a proactive and preemptive risk management culture, Swiss Re said.
In its new report released today, "Establishing a Proactive Risk Management Culture," Swiss Re outlined its recommendations for risk management in relation to each of the main elements of the Solvency II framework directive: risk and capital modeling, governance, and disclosure and transparency.
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