Volume No. :   2

Issue No. :  4

Year :  2011

ISSN Print :  0976-495X

ISSN Online :  2321-5763


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Risk Management in General Insurance Business in India with Special Reference to Insurer



Address:   A.K. Das Mohapatra*
Professor, Department of Business Administration, Sambalpur University, Orissa, India
*Corresponding Author
DOI No:

ABSTRACT:
General insurance businesses in India are exposed to a host of financial and non-financial risks. The financial risks include capital risk, asset liability management risk, insurance risk and credit risks whereas non financial risks include enterprise risk and operating risk. These risks, unless managed effectively, are bound to affect the overall performance of the business and even threaten its survival. General insurance businesses in India are found to be managing their exposure to financial and non financial risks by employing two broad techniques, risk based capital management and reserving, with the former consisting of management role, capital and solvency margins, and risk based capital and the later consisting of unearned premium reserves, unexpired risk reserves, outstanding claim reserves, incurred but not reported reserves, catastrophe reserves and claims equalization reserve.
KEYWORDS:
Capital risk, credit risk, enterprise risk, operating risk, insurance risk, asset/liability management risk, reserving, catestrophe risk, risk based capital
Cite:
A.K. Das Mohapatra. Risk Management in General Insurance Business in India with Special Reference to Insurer. Asian J. Management 2(4): Oct.-Dec., 2011 page 186-190.
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