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NEW YORKGuy Carpenter & Co. L.L.C. has published a comprehensive enterprise risk management guide, "Enterprise Risk Analysis for Property & Liability Insurance Companies."
The book is intended to provide insurance executives, risk managers, actuaries, academics and others with the latest strategies and applications in ERM, with insight from the leading specialists and practitioners in the field.
The New York-based intermediary noted that increased pressures from rating agencies, regulators, parent companies and investors are forcing insurers to implement strict ERM practices. At the same time, ERM is particularly challenging for insurers, Guy Carpenter noted, as they are also assuming their clients' risks.
In addition to addressing ERM theory, the book focuses on practical implementation issues such as models and management frameworks, insurance hazard risks, financial risk models, operational risk and strategic risk.
The book also covers topics such as loss distribution and loss reserves models as well as emerging solutions such as timeline simulation, frameworks for modeling the insurance pricing cycle and models for reinsurance recoverables risk.
Additional information on "Enterprise Risk Analysis for Property & Liability Insurance Companies" and the book's authors can be found at http://ermbook.guycarp.com.
Guy Carpenter is a unit of Marsh & McLennan Cos. Inc.