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IPRM Problem Solution. IPRM PRoblem Solution Running head: INTERNATIONAL
PROPERTY RISK MANAGEMENT Problem Solution: International ...
... must be taken into careful consideration and a solution must be ... the answers and methods
to solve this problem in the ... 21, 2006 2. www.uitm.edu.my/iprm/page2.html ...
Submitted by jesusrok on April 28, 2008
Category: Business
Words: 802 | Pages: 4
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IPRM PRoblem Solution
Running head: INTERNATIONAL PROPERTY RISK MANAGEMENT
Problem Solution: International Property Risk Management
Problem Solution: International Property Risk Management
International Property Risk Management is a major US insurer with a strong domestic portfolio. IPRM has seen a steady growth in the value of the properties it insures over the last twenty years. However, IPRM like the rest of the international insurance industry has seen its earnings affected by climate and weather. There have been major losses in some years due to increases in weather-related risks. As the rest of the industry, IPRM is alarmed by reports that suggest increasing risk of weather related property damage due to global warming, and feels the need for realignment of its North American portfolio for better risk management and for hedging its US risks exposure.
Situation Analysis
Issue and Opportunity Identification
IPRM has an urgent need for risk management planning before the start of the next Atlantic Hurricane season. Vice President Jack Breeze has suggested retaining the consultant April Shower to conduct another study for the company. Jack reported that April declined the consulting job offered to her by IPRM, but provided him with parts of her last report completed in 1998. Moreover, April agreed that, if IPRM will hire an independent consulting team, she and her team would review, comment, and audit the report and its recommendations. Jack presented an incomplete statistical report that was prepared in 1998 by April at the meeting. The report is based on secondary data taken from the Department of Commerce’s National Climate Data Center in Asheville, NC about U.S. weather disasters for the period 1980-1997.
Stakeholder Perspectives/Ethical Dilemmas
June Weathers:
IPRM North American VP for risk assessment. June has been with the company for 10...
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