Note on enterprise risk management (ERM) for capital and solvency purposes in the insurance industry

Document description

This Note has been developed by the IAA for insurers to support the Standards and Guidance materials developed by the International Association of Insurance Supervisors (IAIS) for supervisors. It draws on industry experience, supervisors’ supervisory practices, models and frameworks published by others and emphasizes practical considerations. The Note also seeks to help insurers assess risk framework maturity by reference to characteristics associated with different stages of development of risk management sophistication.

This is a slightly updated version of the IAA practice note available at http://www.actuaries.org.uk/erm/IAA_PracticeNote.pdf