Insurance Risk North America: CROs must avoid conservative culture
Regulatory mindset 'creates no value' for US insurers
Chief risk officers (CROs) must ensure their organisations do not develop a conservative risk culture like their regulators, delegates at Insurance Risk North America in New York heard.
Steven Verney, executive vice-president and chief risk officer at Allstate, said regulators have a conservative mindset when it comes to supervising insurers and the CRO must ensure their organisations do not adopt that view.
"One of our key roles is to make sure it does not become the culture of the companies
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