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Oman: Capital Market Authority urges insurers to focus on Enterprise Risk Management

June 25, 2014 - 6:00am

Oman's Capital Market Authority is urging insurers to focus on Enterprise Risk Management, with the authority's acting director general of insurance supervision Ahmed Ali al Maamari saying that this could enable better informed decision making, reports Oman Daily Observer.

Mr. al Maamari said that mandatory principles and standards for ERM are likely to be imposed in the near future.

"Many insurers in Oman and even in the GCC region still view ERM as just a compliance exercise or rating agency requirement," he said.

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