It is my observation, that history is full of anecdots of societies which rose to great heights and then some calamity-war or major environmental impact led to its decline and demise.
However, ever since Insurance came as a systematic bulwark against calamities-we see a continuously developing and adventurous world society. Extremely severe catastrophes have been weathered-global society at large has seen no demise-instead seen continuous growth and increasingly bold adventures launched.
Banking too has been a supporting institution-but current events show HOW INSURANCE IS THE MORE EFFECTIVE REASON.
Risk management had nothing to do with the relative success the insurance industry had with 2008’s financial crisis. It has to attributed to good undewriting, which is a totally different concept with risk management.
The industry hasn’t emerged unscathed. Insurers / reinsurers invest their premiums, and these investments will have decreased substantially along with all the others.
It is my observation, that history is full of anecdots of societies which rose to great heights and then some calamity-war or major environmental impact led to its decline and demise.
However, ever since Insurance came as a systematic bulwark against calamities-we see a continuously developing and adventurous world society. Extremely severe catastrophes have been weathered-global society at large has seen no demise-instead seen continuous growth and increasingly bold adventures launched.
Banking too has been a supporting institution-but current events show HOW INSURANCE IS THE MORE EFFECTIVE REASON.
Risk management had nothing to do with the relative success the insurance industry had with 2008’s financial crisis. It has to attributed to good undewriting, which is a totally different concept with risk management.
The industry hasn’t emerged unscathed. Insurers / reinsurers invest their premiums, and these investments will have decreased substantially along with all the others.