Initiative by BIA & ARIG to further develop the insurance firms risk evaluation system

The workshop gave members an overview of Enterprise Risk Management process, practices and share current updates, where each firm can get a better view of the ERM, particularly in the context of current practical applications. A representative from each firm attended the workshop where, they had the opportunity to interact with the consultants.

Commenting on the workshop Mr. George Maher Principal of (Towers Perrin) Tillinghast, said: "Companies face a wide range of risks in the normal course of their business. But not all risks are equally important; ERM helps managers focus on the risks that have the biggest influence - both positive and negative -on their ability to achieve strategic goals. From its base in the banking and insurance industries, ERM has gained traction across all major industry segments and we are glad to pass this experience to the insurance firms in the Kingdom of Bahrain".

Ashraf Bseisu, BIA Chairman said: "The initiative of BIA & ARIG aims to provide the insurance firms in the Kingdom of Bahrain with better evaluation system of risks across the organization to create competitive advantage through better risk-based decisions. Our gratitude to ARIG for organizing such event, that's contribute to the insurance industry development in the Kingdom of Bahrain".