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Risk & ERM

  • p26-27-Assesstment-risk--Feet-balancing-on-pie-charts-Ikon--11800321.png A valuation methodology for M&A transactionsEd Morgan and Jeremy Kent describe a valuation methodology for insurance merger and acquisition transactions, the 'Solvency II Appraisal Value, or SII-AV 13 April 2017
  • p25-Mystery--Sherlock-Holmes-illustration--Alamy--bxxbxd.jpg The mystery of risk measurementHow can managers best understand their firm's prevailing level of risk? The conventional answer is by tracking good indicators. But choosing these is not straightforward, says Paul Harwood 09 March 2017
  • Marcus Bowser, Kirsty Leece and Keith Jennings The risk connectionMarcus Bowser, Kirsty Leece and Keith Jennings discuss the work of the IFoA's Risk Management Board with Stephen Hyams and Gemma Gregson 09 March 2017
  • p24-Systems-Thinking--Tree-headshaped-jigsaw-root-illustration--Istock--505649964 Systems thinking at Staple InnNico Aspinall introduces 'systems thinking' and explains why it is important to increase its use in actuarial work 03 November 2016
  • China flood defences work China suffers extreme floods but improved defences mean less damageChina has experienced its worst floods since the supposedly 'one in 100 years' flooding of 1998, but damage to crops has reduced, Aon Benfield has said. 14 October 2016
  • cover_october_final2 A cultural revolutionColm Fitzgerald, Jonathan Allenby and Monika Smatralova discuss behavioural and cultural risks and how to assess and manage them 06 October 2016
  • The Antartic ice sheet © iStock Met Office boss calls for better adaptation for climate changeStrategies are needed to adapt to the effects of climate change, according to the head of climate impact research at the Met office. 14 September 2016
  • Interior The rising tideAndrew Lowe discusses the actuarial profession's response to the increasing risk of flooding in the UK and around the world. He argues that with greater co-operation and data sharing, the profession and wider economy can make better preparations for the challenges ahead 01 September 2016
  • September_cover-PRES Shock tactics - exploring the risk of cyber attacks on electricity networksSimon Ruffle and Lee Coppack investigate the possible consequences of cyber-attacks on electricity networks 01 September 2016
  • Paris attack © Shutterstock Terrorism leaves insurers uncertain about pricingRecent events across Europe such as terror attacks in Paris and Brussels have resulted in a marked change in how firms look at premiums and exposures, according to PwC's latest London Market pricing conditions review. 24 August 2016
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Enterprise risk management

Enterprise risk management (ERM) is generally accepted to be a wider subject than traditional risk management.

While traditional risk management focuses on identifying, measuring and monitoring risks to limit a company's losses, ERM recognises that businesses take risks to make a profit for their owners. It therefore attempts to strike a balance between too much risk and not enough risk in light of a business's strategy - making sure the risk-taking activities of the company are aligned with its objectives and its willingness, or otherwise, to take losses.

An ERM process will incorporate risk information into strategic planning, management decision making, product design and more.

Find out more