Risk management started when companies purchased property and casualty insurance to insure against risk. With the floating of currencies and the fluctuating prices of commodities, financial institutions developed derivatives to allow companies to hedge against currency, interest rate, and pricing risk. Finally, companies realized that they faced much more risk than could be insured or hedged. This gave rise to the concept of enterprise-wide risk management, which seeks to identify, measure, and manage all risks to the business.
Here are articles on enterprise-wide risk management that appeared in a special issue of Risk magazine.
An article featured in E-Risk in March of 2000 discusses enterprise-wide risk management and the role of the Chief Risk Officer.
There are also number of books on risk management available.
For information on evaluating the risk/return related to the allocation of capital, the following information is available:
Lisa Ward, of Risk Management Solutions, Inc., and David Lee, of ERISK, authored a paper called "Practical Application of the Risk-Adjusted Return on Capital Framework," which applies specifically to an insurance company.
The following provides a link to an interactive study exploring profitability of U.S. property & casualty insurance industry segments.
An article titled "One firm, one view," argues that a fully integrated risk management process is key to an optimal firm-wide management of risk.
The following provides a lecture on the Capital Asset Pricing Model.
FEI Research Foundation Products available for this topic are:
For information on sample RFPs for various types of insurance coverage, visit the Risk Management Internet Services Resource Library . All of their services are available by subscription, at $35/month or $300/year. The RMIS Resource Library offers RFP templates for a variety of services. Here are the insurance forms that they offer.