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An Evaluation of the Horizontal Risk Management of Insurance Companies

  • Journal of Insurance and Finance
  • 2002, 13(2), pp.77-114
  • Publisher : Korea Insurance Research Institute
  • Research Area : Social Science > Business Management

정 석 영 1 keonshik Ryu 2

1원광대학교
2보험개발원

Candidate

ABSTRACT

We conduct a survey for insurance companies and analyse the insurer's risk management using the horizontal risk management framework in terms of the type of business, the size of company, and the level of risk management. Results indicate that it is required to construct an appropriate strategy in risk management, since there are huge differences in the level of risk management among insurance companies when we use the size of the firms as an independent variable. Specifically, the small and medium(S&M) companies need to construct the risk management structures which take account for characteristics of their own businesses. Conclusively, it is time to change risk management toward the new paradigm such that insurance companies including S&M firms evaluate core parts and characteristics of their businesses and identify the priorities of the parts of risk management. By doing so, they could improve efficiency in risk management by investing their limited resources on the top priority.

Citation status

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