A Strategic Review for Self-Insurers

Topics:
Insurance
Tags:
Entity,
Finance,
Financial Accounting,
Public Sector,
Towers Perrin
Source:
Towers Perrin

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Overview: Many enterprises finance property/casualty risk by retaining a portion or even most of the exposure. Examples include private and public sector employers, self-insurance pools, risk retention groups and captive insurers. These entities have two primary goals in retaining risk: to reduce the total cost of the risk financing program and to gain more control over the risk-financing process. Retaining risk entails a trade-off - replacing fixed costs with the uncertainty of losses from retained exposures, which can cause uncertainty in an entity's overall financial results. The paper depicts that retained risk can cause volatility in financial results. Entities that self-insure property/casualty exposures need to review their risk retention programs regularly.

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Format: PDF | Size: 508KB | Date: Apr 2003 | Pages: 4

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