RISK MANAGEMENT IN LIFE INSURANCE COMPANIES IN BOSNIA AND HERZEGOVINA
Anela Čolak, Zora Marijanović, Josipa Grbavac
Pages: 530-539 Published: 29 Aug 2014
Views: 2,340 Downloads: 557
Abstract: Despite the global economic crisis, life insurances in BiH are being in positive trend and their number rises. The paper is aimed to analyze the degree of development of risk management systems in life insurance companies in BiH. In particular, the authors have tried to establish the existence of policies and procedures in the framework of risk management in life insurance companies. Also, the most common risks identified by insurance companies are the following: liquidity risk, risk of change in price of financial real and other assets, and foreign exchange risk. The authors will analyze the most common methods that insurance companies use to protect themselves. The authors also seek to identify limitations in development of risk insurance system.
Keywords: life insurance, risk, development of risk management system