"What gets measured, gets managed!" This statement is the fundamental principle behind the concept of "Total Cost of Risk." But what exactly is TCoR, and why should you as a risk manager care about it?
Thanks to the near collapse of our financial system and the lingering recession that followed, we're experiencing some of the worst economic times since The Great Depression.
The announcement that Arthur J. Gallagher has received permission to receive contingent commissions from insurers once more was met with both positive and negative comments from within the commercial insurance community.
Enterprise risk management is the newest buzzword, but the concept is actually not a new one. Only recently--with the meltdown of the financial sector and the economic slowdown--has ERM begun receiving a tremendous amount of publicity.
