scholarly journals REINSURANCE AS AN INDEPENDENT ELEMENT OF RISK MANAGEMENT OF THE INSURANCE COMPANY

2019 ◽  
Author(s):  
Y. O. Sheiko ◽  
I. M. Yuhimchuk
Keyword(s):  
Risk Management ◽  
Insurance Company ◽  
Independent Element

scholarly journals Risk Management in nursing homes: an Italian experience in 2019

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
M F Furmenti ◽  
F Bert ◽  
M Rucci ◽  
U Fiandra ◽  
A Scarmozzino ◽  
...  
Keyword(s):  
Risk Management ◽  
Nursing Homes ◽  
Management Practices ◽  
Well Being ◽  
The Elderly ◽  
Management Plan ◽  
Management Policy ◽  
Insurance Company ◽  
Term Care ◽  
Starting Point

Abstract Background The ageing of the European population leads to an increasing demand for Long-Term Care services. The security and well-being of the elderly population hosted in nursing homes (NHs) needs an effective Risk Management policy, officially sanctioned in Italy by the so-called “Legge Gelli” n.24 (March 8th, 2017) and the Directive 2011/24/EU on the application of patients' rights in cross-border healthcare. In order to verify the effective application of common “best practices” in terms of Risk Management in NHs, a tool useful to analyse risk management attitudes in Northern Italy was conceived and applied in a sample of NHs. Methods The tool, developed in collaboration with the health insurance company SHAM Italia, is composed of 124 items (with a dichotomous answer -YES/NO) on topics related to various Risk Management practices. This tool was submitted in a face-to-face interview to several Directors (Health Directors or Nursing Coordinators) of NHs in the Piedmont Region. A list of randomly-chosen NHs was contacted: 4 of them were selected for the pilot study and compiled the questionnaire. Answers were gathered and analyzed through Microsoft Excel. Results Only the 25% of NHs has a Risk Management plan with objectives and indicators of effectiveness and uses Risk Analysis instruments for a pre- and post-” risk detection. Only one has employees working mainly on Risk Management alone. The 75% of the reported events were “Adverse Events”, and all the NHs (100%) have a protocol for a patient voluntary departure or for fall prevention or for bedsores prevention; while 50% have a protocol for prevention of aggressions towards operators or for patients' suicide prevention. Conclusions This work provides a starting point to face new challenges that are looming on the European Health-care Systems: the care for the elderlies needs to be perfected to reduce inefficiencies, cut useless costs and improve safety of patients in the NHs setting. Key messages Despite safety of older patients in nursing homes is not only important but mandatory in Italy, risk management tools for this setting are lacking in literature. A new tool applied in Italian nursing homes showed that risk management needs to be implemented in practice and these results can be extended to European context.

scholarly journals Solvency risk management in insurance company

2015 ◽  
Vol 9 (1) ◽  
pp. 371-398
Author(s):  
Miro Sokic
Keyword(s):  
Risk Management ◽  
Insurance Company

FINANCIAL MANAGEMENT IN THE ACTIVITY OF INSURANCE COMPANIES

2020 ◽  
Vol 18 (Suppl.1) ◽  
pp. 395-400
Author(s):  
Ts. Andreeva
Keyword(s):  
Risk Management ◽  
Financial Management ◽  
Insurance Companies ◽  
Complex Nature ◽  
Insurance Company ◽  
Independent Unit ◽  
Integrated Risk ◽  
Analysis And Synthesis ◽  
Integrated Risk Management

The article defines the essence and justifies the need for financial management in the activities of insurance companies. PURPOSE: The aim of the article is to bring out the specifics of financial management in insurance and outline the advantages of controlling as a function and part of the management of the insurance company to ensure the necessary solvency. METHODS: The systematic and structural approach, analysis and synthesis, including, study of literature sources and analysis of the existing situation in the practice of the insurance company are used. RESULTS: The results are about highlighting the role of risk management in financial management, as well as the importance of factors - gross technical provisions and others, for risk management of the insurance company. CONCLUSION: Тhe complex nature of financial management requires integrated risk management, which requires the establishment of an independent unit and / or position in financial management and risk management.

Governance and Risk Management in United Kingdom Insurance Companies. Discussion held at the Institute of Actuaries

2009 ◽  
Vol 15 (3) ◽  
pp. 557-572
Keyword(s):  
Risk Management ◽  
United Kingdom ◽  
Internal Control ◽  
Insurance Companies ◽  
Original Research ◽  
Insurance Company ◽  
Equity Risk ◽  
Enterprise Risk ◽  
Complex Models ◽  
Wide Group

Mr M. R. Kipling, F.I.A.: This paper is entitled Governance and Risk Management in United Kingdom Insurance Companies. It is a very timely paper in light of the recent publication of the Turner review which, among other things, covers the governance of UK financial institutions.Mr S. P. Deighton, F.I.A. (introducing the paper): The paper is the first formal output from the Research and Thought Leadership subcommittee of the Enterprise Risk Management (ERM) Practice Executive Committee (PEC). It may seem odd, therefore, that it contains no original research. There is not an equation in sight, and there is only one token diagram. This is because the most important of its key themes is that there is much more to ERM than complex models and fancy mathematics.There are a number of areas associated with ERM. One of them is understanding the wider governance framework within which an insurance company must operate, and hence the introduction to that subject at the beginning of the paper. The second is how to run the very detailed identification and mitigation of the myriad of small risks across a wide group which is at the other end of the spectrum to the multi-million pound derivative transactions that manage equity risk. Our paper sees this as indistinguishable from the internal control framework that a company needs in order to comply on the governance front.

scholarly journals IMPLEMENTATION OF GOOD CORPORATE GOVERNANCE AT PT AXA MANDIRI FINANCIAL SERVICES

2020 ◽  
Vol 1 (5) ◽  
pp. 815-828
Author(s):  
Hudriatul Hotimah
Keyword(s):  
Risk Management ◽  
Corporate Governance ◽  
Internal Control ◽  
Financial Services ◽  
Business Processes ◽  
Joint Venture ◽  
Added Value ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Good Corporate Governance

Good Corporate Governance (GCG) is a system that organizes and controls a company so that it can form added value for all stakeholders. This study aims to determine the application of GCG at PT AXA Mandiri Financial Services (AMFS) which is a joint venture Conventional Life Insurance company between PT Bank Mandiri (Persero) Tbk and National Mutual International Pty. Limited (AXA). The research method used is descriptive qualitative. The results of this study indicate that PT AMFS has implemented GCG in an integrated manner in all business processes. This is evidenced by the transformation in 10 line areas, namely digital services, distribution, health and protection, human resources and culture, information technology systems, data, efficiency, customer experience, and offers (documents and products). PT AMFS also applies the Three Lines of Defense principle to an internal control system that is integrated with risk management. The main line of defense is the directors and all employees of PT AMFS. Second, risk management, compliance and law. Third, internal and external audit.

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