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

Document description

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

A slightly updated version of this note is available at http://www.actuaries.org.uk/erm/IAA_PracticeNote_2009.pdf