Dr Patchin C Curtis, ERM Center of Excellence Leader and Mr Ali Hammad Shaukat, Principal, both from Deloitte & Touche Middle East’s Enterprise Risk Services, review global ERM practices and requirements in the insurance industry.
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Ms Carolyn Williams, Development Manager with the Institute of Risk Management discusses the need for integrated risk management and the practice in the Middle East.
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Ms Nicola Crawford, Director Integrated Risk & Governance, Business Resilience Group, looks at whether ERM should be blamed for the global financial crisis, and the lessons that GCC companies can learn.
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Middle Eastern insurers are likely to respond to the global crisis by focusing on underwriting and core businesses, protecting their balance sheets and enhancing risk management in order to limit exposure, said Moody’s in its latest report.
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While the negative perceptions of operating risks in the Middle East have reduced sharply in the past year, the region faces specific challenges from the global recession that may pose future risks, according to a report by the Economist Intelligence Unit (EIU) and co-sponsored by ACE.
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