Managing Profitable Growth in Turbulent Times: Why insurers need enhanced risk management

The past few years have been rough for the insurance industry. On the property and casualty side of the business, markets remain soft. Combined ratios climbed from 103 percent to 108.5 percent in a single year. Net written premium growth has declined. The cost per incidence for medical care rose 3.4 percent in 2010; hospital service costs rose 7.9 percent. Claims are increasing in severity, magnitude and frequency. So is fraud.

The story is pretty much the same in life insurance. Only one

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