Does Enterprise Risk Management Enhance Insurers’ Resilience? Empirical Evidence from the COVID-19 Pandemic Period

August 2024

Author

Derrick FUNG Wing Hong, PhD, FSA, CERA
The Hang Seng University of Hong Kong

Description

This empirical study examines the impact of the COVID-19 pandemic on insurers and investigates whether insurers with more sophisticated Enterprise Risk Management (ERM) frameworks have suffered fewer losses compared to those with less sophisticated frameworks. The study fills a gap in the existing literature by exploring the relationship between ERM sophistication and insurers' resilience during the pandemic.

Bericht

Does Enterprise Risk Management Enhance Insurers’ Resilience?

Acknowledgments

The author’s deepest gratitude goes to those without whose efforts this project could not have come to fruition: the volunteers who generously shared their wisdom, insights, advice, guidance, and arm’s-length review of this study prior to publication. Any opinions expressed may not reflect their opinions nor those of their employers. Any errors belong to the author alone.

Senior Research Assistant:
Kurt Hung

Project Oversight Group Members:
Jill Harper, FSA, CERA, FCIA
Ngoc-Vy Le, FSA, CERA, FCIA
Bryan Liu, FSA, FCIA
Hoang Long Ace Nguyen
David Schraub, FSA, CERA, MAAA, AQ

At the Society of Actuaries Research Institute:
Korrel Crawford, Senior Research Administrator
R. Dale Hall, FSA, MAAA, CERA, CFA, Managing Director of Research

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