What is the role of Risk Management in Insurance?

3 Responses to “What is the role of Risk Management in Insurance?”

1. chindu says:

   May 21, 2009 at 10:28 am

   Hi Nimal, Insurance is the one of instruments in Risk Management. Insurance provide protection against risks like sudden death (life cover), personal accident, fire accidents, Electrical accidents, Theft and Burglary etc. Now a days you can insure any thing which is under sun. By paying premium as consideration you can protect your assets and life from unexpected events.
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2. Gary H says:

   May 21, 2009 at 10:36 am

   Hi, The role of risk management is basically what it says:::the risks have to be managed. The probability of the event actually happening is worked out, which then provides a basis for the premium calculation. There are alot of things to consider when judging potential risks, also the balance of the portefeuille. Reinsurance and Insurance have their specialists.
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3. mbrcatz17 says:

   May 21, 2009 at 11:04 am

   To identify the risks, decide which ones are transferrable to insurance, and manage the ones that aren't.
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