National Underwriter's ERM Summit

[campbell]

Will be on Monday in downtown NYC on Monday - Tuesday.

I'm going to be there. Anybody else?

[campbell]

Excellent talks yesterday - especially liked the talk from Sam Friedman, Editor in Chief for National Underwriter, talking about reputation risk and the insurance industry as a whole.

Also, Mark Puccia from Standard and Poor's talking about how ERM and company economic capital modeling feeds into their ratings of insurance company, and what they're looking for specifically.

[campbell]

Sam Friedman writes on one of the sessions from this event:
http://nusamsoapbox.com/2009/10/20/how-do-you-overcome-people-risk/#more-1309

No matter how many regulations or internal fail-safe systems an organization or a government puts in place, preventing systemic economic collapses means accounting for the worst instincts in human nature. Can enterprise risk managers mitigate “people” risk?


That was the provocative question raised by an audience member at a recent enterprise risk management conference hosted by the events division of my parent company.

The question was posed following a wide-ranging panel discussion of the financial meltdown and its implications for corporate governance—entitled, “A Conversation About Risk: What Keeps You Up At Night?”

An audience member asked the experts to explain how companies and regulators can mitigate “people risk” to discourage behavior that is at best reckless, and at worst unethical or even illegal, when the potential for large profits looms.

“One of the clear weaknesses here is people,” said the attendee. “How do you get board buy-in to proceed with caution on risk? How do you mitigate the inherent ‘people risk’?”

The responses were intriguing.

More at the link.

I may have been the attendee who asked the question.

I ask a lot of questions. I don't always remember what I ask.

[campbell]

Slides from the talks are available here:
http://www.summitliveevents.com/sites/erm/Pages/Enterprise-Risk-Management-Program.aspx

[JMO]

Thanks for the links. Impressive list of speakers!

[campbell]

I found it very informative. Good group of attendees, too.