Enterprise Risk Management (ERM) news alert

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Updated 18 May 2012

17 May 2012
FSA identifies "weaknesses" in insurers' internal Solvency II models
Insurance regulator the Financial Services Authority (FSA) has identified some "common weaknesses" amongst firms looking to develop their own systems for compliance with delayed new European standards. (Out-Law)
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17 May 2012
Peer slams FSA's 'loss of proportion' over Solvency II
Conservative peer Lord Ashton has attacked the FSA’s approach to implementing Solvency II, accusing the regulator “losing its sense of proportion”. (Money Marketing)
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15 May 2012
JP Morgan losses: Trust is the first casualty of VaR
The effects of JP Morgan’s shock $2bn loss in its Chief Investment Office are likely to be felt far beyond the bank. At the very least, it has shattered an already fragile trust in the industry. It may also be the nail in the coffin for traditional measures of risk. (Euroweek)
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10 May 2012
Wheatley warns building societies over risk
Financial Conduct Authority chief executive designate Martin Wheatley has warned building societies not to assume a mutual structure means there is less risk of consumer detriment. (Money Marketing)
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08 May 2012
EIOPA says regulators must over-rule Solvency II confidentiality agreements
The European Insurance and Occupational Pensions Authority has ripped up confidentiality agreements between insurers and third-party Solvency II consultants selling validation models. (Post online, registration required)
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26 April 2012
Further delay to Solvency II transposition
Deadline for passing national laws on directive now 30 June 2013. (Insurance ERM, registration required)
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26 April 2012
Risk management strategy low priority for many European energy buyers
Most respondents think oil prices will rise – but few have risk management policies in place... (Risk.net, registration required)
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25 April 2012
Nearly 80% of Islamic firms created a risk department in the past 5 years
The number of Islamic financial institutions employing dedicated risk managers has increased greatly since 2007, according to Deloitte Middle East's first Islamic Finance Risk Intelligence report. (Insurance Insight)
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18 April 2012
Economic risks still top risk manager concerns
Economic risks continue to dominate the concerns of risk mangers, according to a new North American survey. (Business Insurance)
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11 April 2012
CRISline newsletter no.23 published
The Centre for Risk and Insurance Studies was founded in 1991, originally as The University of Nottingham Insurance Centre. It is one of the world’s leading specialist university centres of risk and insurance.

Disclaimer:
These news stories do not represent the Profession's views. They are collected using general website search techniques.