Next Generation Compliance Reporting: Adopting A Risk-Based Approach

Download Now Date Added: Dec 2008
Format: PDF

Regulatory compliance is quickly emerging as an important risk class in a growing number of insurance companies. These companies are recognizing that adopting risk-based compliance programs and integrated measurement and reporting capabilities provides them with the tools and information they need to manage regulatory exposures more effectively and in a cost-effective manner. While no compliance program can provide absolute assurance that the company will not encounter regulatory issues, companies that adopt a risk-based approach and migrate from rules-based compliance risk, thereby helping to minimize potential sanctions, avoid damage to reputation, and preserve shareholder value.