Saudi Arabia – Insurers’ solutions far from risk management
Monday, 02 20 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Insurance sector experts asked losing companies to improve management, change the followed solutions as well as continue risk management efforts and accounting organization.
They indicated that the solutions of losing insurance companies are far away from risk management since they only try to increase or decrease capital in addition to raising insurance prices. These are only temporary solutions, which limit losses but do not improve the performance companies or limit accumulated losses.
Dr. Ahma Al-Ali an economic expert told “Al-Eqtisadiah” that losing insurance companies do not address losses with measures that genuinely help limit losses and stop loss accumulation. These are closer to alleviating measures than to essential solutions.