In times of war or domestic crisis the Roman Republic appointed a single leader and dissolved the senate. The objective of Rome’s approach was to reduce risk at a difficult time by dedicating responsibility to an individual.
For insurance regulators in Europe, the question of how to protect policyholders and the wider economy has had a somewhat similar outcome – with policy-makers investing greater power in the chief risk officer (CRO).
Along with increased responsibility, Solvency II gives CR
The week on Risk.net, July 14–20, 2017Receive this by email