Insurance industry executives confident in the face of credit crisis

Insurance executives were feeling confident about their ability to manage risks and opportunities at the onset of the credit crisis, according to a new global study conducted by Towers Perrin in conjunction with the Economist Intelligence Unit.

The study found that leaders of companies having “Excellent” enterprise risk management (ERM) ratings from Standard & Poors tend to be significantly less overconfident in their overall ability to manage risks and opportunities, compared with industry peers with lesser ERM ratings.

“The findings and timing of this study – especially within the context of the onset of the current credit market woes and broader economic landscape – underscore the challenges the insurance industry faces in managing