保险企业公司风险管理外文文献翻译.doc

外文文献翻译
文献出处: Beasley M S, Clune R, Hermanson D R. Enterprise risk management in Insurance[J] Journal of Accounting and Public Policy, 2014,24(6):521-531
英文原文
Enterprise Risk Management in Insurance
Beasley, Clune, Hermanson
Trust is a key determinants of any financial transaction. Exchanges in insurance markets are a particular type of financial transaction where a current payment – the premium – is exchanges for a promise of a future, contingent payment – the indemnity due when the casualty occurs. We argue that trust is key in fostering these type of exchanges. Trust enters two ways: because it affects the willingness of pany to supply insurance when the insured can cheat by claiming indemnities that are not due. Because it discourages people from purchasing insurance if they do not trust pany promise of readily paying the indemnity when due. We prove theoretically and empirically the relevance of trust in insurance exchanges and discuss policies to foster it.
Enterprise Risk Management (hereinafter referred as “ERM”) interests a wide range of professions (., actuaries, corporate financial managers, underwriters, accountants,and internal auditors), however, current ERM solutions often do not cover all risks because they are motivated by the core professional ethics and principles of these professions who design and administer them. In a typical pany all such professions work as a group to achieve the overriding corporate can be defined as factors which prevent anization in achieving its objectives and risks anizations holistically. The management of risk in isolation often misses its big picture. It is argued here that a holistic management of risk is logical and is the ultimate destination of all general management , risk
management should not be a separate function of the business process;rather, managing downside risk and taking the opportunities from upside risk should be the key management goals. Consequently, ERM