A RISK MANAGEMENT SYSTEM IN INSURANCE UNDERTAKING

Abstract

The purpose of this article is to identify and to define a role of risk management in insurance undertakings, particularly in the light of new regulations. Therefore, an obligatory of implementing a risk management system in insurance undertaking can have a negative impact on effectiveness or efficacy entity is the hypothesis of this publication. To prove or refute a hypothesis, a qualitative method and empirical research were applied. Finally, the hypothesis was proved.