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Milliman Risk Management training
Insurance Risk Management Essentials
and the ORSA
OVERVIEW
This half-day training course will provide an overview of various aspects of the risk management
system for insurers including the responsibilities of boards and senior managers.
The course will explain the key requirements that companies need to have in place, including risk
appetite and strategy, risk policies and procedures, and risk governance structures. The course will
also include the risk management obligations under Solvency II, focusing on the ORSA / FLAOR
requirements for boards and senior managers.
In addition the course will provide an overview of the CBI’s PRISM model and the new ‘risk
language’ used by regulators, as well as how to prepare for meeting the regulator as part of a full
risk assessment.
WORKSHOP METHODOLOGY
The workshop methodology consists of a balanced mix of lectures and practical examples, with time
for individual questions from delegates.
COMPREHENSIVE COURSE MATERIAL
Comprehensive documentation containing all course material will be provided.
valuable continuing reference resource.
This will be a
TRAINING DATE AND TIME
Thursday, 14 May 2015
Time: 9.00am – 1.00pm
VENUE AND COSTS
Dublin city centre location – TBC
€650 per attendee (VAT exempt), including all course materials (20% discount for additional
attendees)
COURSE CONTENTS
Insurance Risk Management Essentials and the ORSA
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Key elements of the risk management system
Responsibilities of Boards, the Chief Risk Officer and senior managers
Solvency II risk management and requirements
The Own Risk and Solvency Assessment (ORSA) and Forward Looking Assessment of Own
Risks (FLAOR). Key requirements and regulatory expectations.
Bookings - contact Geraldine Byrne + 353 1 647 5900 or email [email protected]
Bookings - contact Geraldine Byrne + 353 1 647 5900 or email [email protected]
COURSE CONTENTS CONTINUED…
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Risk management structures and governance
Understanding and challenging the risk appetite statement
PRISM and the new risk language
Preparing for a full risk assessment and meeting the CBI
ABOUT MILLIMAN
Milliman is among the world’s largest providers of actuarial and related products and services. The
firm has consulting practices in life insurance and financial services, property & casualty insurance,
healthcare and employee benefits. Milliman maintains a strong and growing presence in Europe
serving clients from offices in Amsterdam, Brussels, Bucharest, Dublin, Dusseldorf, London, Madrid,
Milan, Munich, Paris, Stockholm, Warsaw, and Zurich.
OTHER MILLIMAN TRAINING IN 2015
We are running a range of financial, regulatory and risk management training courses in 2015
including:
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Highlights of Solvency II and the CBI’s Preparatory Guidelines (half day)
Insurance Risk Management Essentials and the ORSA (half day)
Life Insurance in Ireland - Overview and Financial Aspects (2 x half day)
Financial Aspects of Solvency II - Pillar 1 (full day)
Reporting and Disclosure requirements of Solvency II - Pillar 3 (2 x half day)
Key Components of Insurance Risk Management (full day)
Courses can be run in-house or externally as required, and can be tailored to either introductory,
practitioner or executive level and to cover the specifics of your business. Please contact Andrew
Kay ([email protected]) or your usual Milliman consultant for further information.
milliman.ie