Managing a crisis

The financial crisis has highlighted the importance of risk management processes and controls, but insurers differ on the importance of technological solutions to the problem. Clive Davidson reports

The financial crisis has effectively silenced any doubters and dissenters on the need for rigorous processes and controls around risk and capital management and their place in financial services regulation. At the moment, crisis-hit banks everywhere are feverishly reviewing their risk and capital management processes and controls, mostly behind closed doors and often with regulators looking over their shoulders. One widely-discussed disclosure came from UBS, which criticised its internal risk