Risk Exposure and Risk Management of UK Non-life Insurance Company

Hu, Qiong (2010) Risk Exposure and Risk Management of UK Non-life Insurance Company. [Dissertation (University of Nottingham only)] (Unpublished)

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Abstract

Risk cannot be removed completely but can be transferred. Insurance has been widely accepted and utilized as one risk transfer instrument by the public. Charging for certain amount of insurance premiums, insurers bear all the risk has been insured against by their clients and pay insurance claims when misfortunes occur. As any other business entities, insurers also have to face uncertainties. As a result, insurers have to deal with complex risks brought by their clients and themselves even under favorable economic conditions. Exposed to persistent turbulent economic conditions, risk management practices of insurers can be complex and difficult.

In this research, risks faced by non-life insurers and the respective risk management practice are the main objectives to study. The effectiveness of the risk management practice also has been evaluated based on four major criteria, which are level of inherent risk of risk management strategy, practical effectiveness, quality of current practice and regulatory compliance. Top 10 UK non-life insurers in 2008 are the sample for this research. It is discovered that the risk management strategies carried out by these ten insurers are similar in major facets but distinct in mitigating some residual risks. Although the vast majority of these practices have achieved their pre-determined objectives, some strategies still can be improved.

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 20 Jan 2011 13:26
Last Modified: 24 Oct 2016 00:20
URI: http://eprints.nottingham.ac.uk/id/eprint/23691

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