Abstract

http://ssrn.com/abstract=2018961
 


 



Strategic Risk Management: Facilitating Risk-Based Insurance Decisions


Joseph Calandro Jr.


Fordham University - Gabelli Center for Global Security Analysis

Paul Delbridge


Independent

Mark Purowitz


Independent

March 9, 2012


Abstract:     
Many risk management functions do reasonably well identifying, modeling and mitigating more 'knowable' risks. However, such functions face a bigger challenge identifying, qualifying and mitigating more ambiguous threats, such as the one(s) that characterized the recent financial crisis. This paper presents an approach for addressing this challenge by way of strategic risk management. We first propose a formal definition for strategic risk management, and then we describe the functions comprising it, all of which are illustrated by way of practical, insurance industry-oriented examples. Despite the insurance focus of this paper, the solution that we propose is broadly applicable across the financial services sector, and beyond.

Keywords: strategic risk management, risk management, ambiguous threats

JEL Classification: D81, G22, L21, L29, M29

working papers series


Not Available For Download

Date posted: March 11, 2012 ; Last revised: April 22, 2014

Suggested Citation

Calandro, Joseph and Delbridge, Paul and Purowitz, Mark, Strategic Risk Management: Facilitating Risk-Based Insurance Decisions (March 9, 2012). Available at SSRN: http://ssrn.com/abstract=2018961 or http://dx.doi.org/10.2139/ssrn.2018961

Contact Information

Joseph Calandro Jr. (Contact Author)
Fordham University - Gabelli Center for Global Security Analysis ( email )
531 Hughes Hall
441 E. Fordham Rd
Bronx, NY 10458
United States
HOME PAGE: http://www.linkedin.com/in/josephcalandro/
Paul Delbridge
Independent ( email )
No Address Available
Mark Purowitz
Independent ( email )
No Address Available
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