Risk Management Article Review - 1028 Words

Financial Risk Management by Insurers Chris XXXXXX MBA 602 – Risk Managment Original Work Statement: I, Chris XXXXXX, verify that this article review is solely my own work and creation and it has been prepared solely for credit in this class. Article Citation: http://search.proquest.com.ezproxy.bellevue.edu/docview/235932288/13BC81292F940B27246/43?accountid=28125 Financial Risk Management by Insurers: An Analysis of the Process: ABSTRACT Santomero, Anthony M;Babbel, David F Journal of Risk and Insurance (1986-1998); Jun 1997; 64, 2; ProQuest Central Main Issue of Article: The main issue of this article is risk management in the insurance industry. It dives deep into different financial†¦show more content†¦Tied to this is liquidity risk, most life insurance type companies do not seem to be concerned with this type of risk or they feel it is well managed due to most of their assets (outside of their policies) being very liquid, such as in stocks or bonds. Property/liability insurance companies are generally only concerned with this type of risk in the event of a widespread catastrophe that would really hurt them financially. Finally, systematic risk is the risk of the stock market or un-diversifiable risk. This affects all companies in the market or in one specific area of the market. For example, during the great financial crisis of 2008 we saw stocks plummet. People and companies alike lost over 40% of their assets in some cases. This is the area where it is hardest to mitigate risks. In the case of insurance companies, most of their efforts to avoid this are in interest rate management and dynamic hedging. We discussed both in class, especially hedging. For example, companies practicing hedging and embarking in futures contracts can plan for unexpected fluctuations in the market. Personal Reflection and Comments: Essentially, I feel this article was extremely on point with everything we have discussed up to this point in class. 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