CRO Forum Information

The CRO Forum is a group of professional risk managers from the insurance industry that focuses on developing and promoting industry best practices in risk management. The Forum consists of Chief Risk Officers from large multi-national insurance companies, mostly based in Europe. It aims to represent the members’ views on key risk management topics, including emerging risks. The CRO Forum has three core aims. By bringing together Chief Risk Officers of the various institutions, we are able to identify and benchmark good practice in risk management and share our ideas with the wider industry through publications – with the goal that these good practices encourage robust risk management within the industry, thereby advancing their business [Core aim #1]. In a shifting regulatory landscape, the CRO Forum seeks to promote alignment between regulatory regimes and industry best practice. The CRO Forum supports the development of risk-based regulatory systems which it considers to be in line with best practice risk management within the industry. [Core Aim #2]. Risk Management is also about looking ahead to risks that could develop, and as such, the CRO Forum runs an Emerging Risk Initiative [Core aim #3]. Emerging Risks consist of new or developing risks as well as existing risks that are difficult to quantify in terms of frequency and severity of potential losses. Emerging risks are extremely relevant for the insurance industry due to their accumulation potential, long-term exposure and the initial difficulties experienced with respect to establishing a clear causal link.