Enterprise Risk Management
Since our inception, Endurance has embraced Enterprise Risk Management (ERM) as a strategic tool that differentiates our company from our peers. Our industry leading risk management approach was recognized by Standard & Poor's with its highest ERM rating of "Excellent" in 2008 and reaffirmed in 2009, 2010 and 2011. Endurance is the youngest company and one of only four North America and Bermuda insurance companies to achieve this distinction. Access the S&P ERM Rating Report.
We strongly believe that our leading ERM practices make Endurance an ideal long-term business partner. We are also forthcoming in sharing our ERM best practices with our clients and cedants who directly benefit from our expertise.
Risk Management Culture
Risk management discipline is built into Endurance's corporate culture and processes and is an important consideration as we manage our risk exposure on both the asset and liability sides of our balance sheet. Our underwriting approach gives careful consideration to controls in the selection of risk, deployment of capital, and management of aggregates and delegated authorities.
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Risk Governance Structure
Our risk management process is multi-disciplined, involving leaders from functions across the organization and at all levels, including active participation by our Board of Directors. With fewer management layers than larger companies, Endurance believes it can attain a more transparent level of communications and respond more strategically to risks.
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Risk Analytics
Endurance maintains a corporate risk scorecard that monitors all risks and risk correlations across the organization encompassing asset, underwriting and pricing, catastrophe, reserving and operational risks. We review the controls that are in place for each risk category and we continue to evolve these controls as we gain insights from industry events. Our risk assessment approach is supported by our modeling capabilities, but we believe it is important to have an appropriate balance between a technical approach to risk and realistic scenarios to stress test our thinking and plan for emerging risks.
