In anticipation of the new Solvency II regime, as well as the eventual merging of the broader formal accounting rules policies from both the United Kingdom and United States, insurers need to strengthen their risk cultures. So says a report issued by global professional services firm Towers Watson, which recently measured the temperature of more than 80 delegates from a wide range of insurance companies.
The poll, conducted during a recent Solvency II seminar, revealed that only 29% of insurers measure and manage risk culture in their organizations as part of their ongoing risk assessments.
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