Should the insurance industry be banking on risk escalation for solvency II?

Bryce, Cormac; Webb, Robert I.; Cheevers, Carly; Ring, Patrick; Clark, G

doi:10.1016/j.irfa.2016.04.014

Cited by 12 publications

(8 citation statements)

References 46 publications

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“…Interestingly, the strongest correlation is PBC with INT (r = 0.627), which, whilst not conclusive, provides some evidence of the assertion of Arnaud and Schminke (2012) that confidence of achieving a desired outcome affects behaviour. In line with the work of Bryce et al (2016), uncertainty is negatively associated with both INT and ATT, thus confirming the robustness of our variable selections. Adequate internal reliability is present, as indicated by the Cronbach alpha values in the bottom row of the table (Nunnally and Bernstein 1994;Cronbach 1970).…”

Section: Module 2 Results: the Intention To Report Operational Risks supporting

confidence: 86%

“…As Table 1 illustrates, this is further exacerbated by many of the cases (61% in total) citing insufficient or inappropriate training and skills as a contributory factor in the development and manifestation of risk within the organisation. This lack of training has been highlighted in previous research to not only negatively affect risk reporting (Bryce et al 2016), but it has also been highlighted by Leaver and Reader (2016a) in the creation of risks at the operational level of an investment bank.…”

Section: Literature Reviewmentioning

confidence: 91%

“…The openness of the TPB to the inclusion of further explanatory variables is considered key to this current study. The role of 'uncertainty', as considered by Bryce et al (2016) is one of these additional antecedents. It has been shown that education and training can alleviate uncertainty, with employees gaining more understanding of their roles and responsibilities and developing their ability to identify potential risk events (Power 2005;Mikes and Kaplan 2013;IRM 2012;Leaver and Reader 2016a).…”

Section: Module 2: the Intention To Report Operational Risk Events Sumentioning

confidence: 99%

See 2 more Smart Citations

Internally Reporting Risk in Financial Services: An Empirical Analysis

et al. 2017

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The enduring failure of financial institutions to identify and deal with risk events continues to have serious repercussions, whether in the form of small but significant losses or major and potentially far-reaching scandals. Using a mixed-methods approach that combines an innovative version of the classic dictator game to inform prosocial tendencies with the survey-based Theory of Planned Behaviour, we examine the risk-escalation behaviour of individuals within a large financial institution. We discover evidence of purely selfish behaviour that explains the lack significance in pressure to adhere to the Subjective Norms of colleagues around intention to report risks. A finding that has potentially important implications for efforts to instil a high-error management climate and incentivise risk reporting within organisations where risk, if ignored or unchecked, could ultimately have consequences that extend far beyond the institutions themselves.

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Section: Module 2 Results: the Intention To Report Operational Risks supporting

confidence: 86%

Section: Literature Reviewmentioning

confidence: 91%

Section: Module 2: the Intention To Report Operational Risk Events Sumentioning

confidence: 99%

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Internally Reporting Risk in Financial Services: An Empirical Analysis

et al. 2017

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“…O Solvency II é um novo regime regulamentar de seguros que introduz uma abordagem prudencial de supervisão prospectiva baseada no risco (FLORYSZCZAK; LE COURTOIS; MAJRI, 2016), com abordagens nos novos rácios de capital, novos procedimentos de supervisão e uma transparência eficaz para o mercado (BRYCE et al, 2016).…”

Section: Introductionunclassified

“…O mercado segurador brasileiro tem apresentado diferenças nas avaliações prudenciais de risco. Apesar das diferenças, a avaliação dos modelos deve estar ancorada nos novos rácios de capital, novos procedimentos de supervisão e na transparência para o mercado (BRYCE et al, 2016). Com relação ao Solvency II, o contexto de avaliação para companhia de seguro no Brasil não tem sido investigado até o presente.…”

Section: Introductionunclassified

Elaboração do panorama do mercado segurador brasileiro em relação à regulamentação internacional de solvência

Macohon

Petry

Fernandes

2017

R. Contemp. Contab.

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http://dx.doi.org/10.5007/2175-8069.2017v14n31p127O objetivo da pesquisa foi analisar o panorama do mercado segurador brasileiro em relação à regulamentação internacional de solvência. Quanto aos objetivos, este estudo se caracteriza como pesquisa descritiva, e quanto aos procedimentos, é documental. A população são as 180 seguradoras brasileiras credenciadas na Susep que publicam suas demonstrações financeiras. A análise dos dados é qualitativa, que se dá por meio da análise de conteúdo dos textos selecionados das notas explicativas e seu enquadramento nas 13 perspectivas de Taylor (2012). A pesquisa constatou que, embora haja crescente conscientização das partes interessadas na governança e gestão de risco das seguradoras brasileiras, ainda é necessário haver melhorias. As informações de avaliação de risco e solvência foram evidenciadas de forma bastante limitada devido às exigências da Susep. Poucas empresas detalharam o perfil de risco específico, os limites de tolerância de risco, bem como explicações acerca das provisões técnicas. Ademais, nenhuma seguradora pesquisada demonstrou dificuldades quanto aos limites de capital mínimo requerido pelo Solvency II.

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Organizational risk culture: A literature review on dimensions, assessment, value relevance, and improvement levers

Bockius

Gatzert

2024

European Management Journal

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Should the insurance industry be banking on risk escalation for solvency II?

Cited by 12 publications

References 46 publications

Internally Reporting Risk in Financial Services: An Empirical Analysis

Internally Reporting Risk in Financial Services: An Empirical Analysis

Elaboração do panorama do mercado segurador brasileiro em relação à regulamentação internacional de solvência

Organizational risk culture: A literature review on dimensions, assessment, value relevance, and improvement levers

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