Research On Comprehensive Risk Management Of China’s Property Insurance Company

The insurance company is the professional risk managers, played therole of economic stability. Property insurance company is an importantpart of the insurance industry, also has some influence on social andeconomic development. In recent years, China’s rapid economicdevelopment in the context of China’s Property Insurance Company,people watched the development of performance: the number of propertyand casualty insurance companies is increasing exponentially, the rapidgrowth of premium volume of property insurance company, propertyinsurance on the socio-economic impact deepening. However, in a time ofrapid growth, China Property Insurance Company is also exposed to thedisadvantage of poor risk management capabilities. China’s propertyinsurance companies want to improve their viability and competitivenessin this complex environment, a sound risk management system is required.The Commission promulgated the U.S. COSO enterprise riskmanagement framework provides an integrated enterprise-wide riskmanagement system, the recognition and adoption of the financialregulatory agencies, international organizations and large insurancecompanies, and achieved great results. Therefore, the COSO EnterpriseRisk Management Framework and China’s property insurance company’srisk management practices coincide analysis of the necessity andfeasibility of the application of risk management in China’s property insurance company that the multi-dimensional framework based on riskmanagement three-dimensional, continuous features, emphasis onproperty and casualty insurance companies a comprehensive and in-depthunderstanding of the objects of control and control, analyze and solvecomplex problems that exist in the management and control, debt,investment, interest rates and other risks to manage as a whole,established a link between risk management, corporate development andshareholders maximize the value of a rigorous and viable management ofthe property insurance company’s risk management framework. The sametime, the application of risk management property insurance company inChina to build, explore the specific implementation to provide atheoretical support to the implementation of a comprehensive riskmanagement framework for China’s Property Insurance Company.The paper is divided into six parts: The Introduction sectiondescribes the background and basis of the writing of this article, the topicsof the purpose and significance of comprehensive risk managementconcept definition and literature review; The second part describes theevolution of risk management theory and practice, including traditionalrisk management, financial risk management, internal controlmanagement, a comprehensive risk management; the third part ofproperty insurance company risk management analysis, described thefeasibility of the need for property insurance companies to implement comprehensive risk management and property insurance companies toimplement comprehensive risk management; The fourth part of the eightelements of the COSO Enterprise Risk Management framework as astarting point, a detailed analysis of the comprehensive risk managementof property and casualty insurance company in China; the fifth part in thesummary of the basis of the previously prompted the implementation ofcomprehensive risk management in China Property Insurance Companypolicy recommendations; Finally the paper concludes.