Download or read book Legal Requirements of Risk Management in Germany written by Usman Ghafoor and published by . This book was released on 2016-04-19 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Business economics - Law, grade: 2,3, Heilbronn University, language: English, abstract: The aim of this seminar paper is to illustrate the topic "Legal requirements of risk management in Germany." An insight into the legal requirements of risk management in a company, e.g. banks and insurances, will be provided. Furthermore, a practical example of risk management at Daimler AG will be described in the following section. Finally, the paper closes with a personal conclusion. The term "risk" is described in literature in many different ways. Risk is being described as a possible deterioration compared to an ex-pected result (loss or damage risk). According to the law "Corporate Sector Supervision and Transparency Act" it means, that a company aspires to fulfil their goals. On the way there are several factors of risk that should be taken into account. The purpose of risk management is to identify, estimate and avert possible risks during a process. Originally, big American companies created risk management out of their insurance policy. Their goal was to significantly reduce insurance premium.
Download or read book Business Risks as Legal Problem Risk Management as Obligation for the Management written by Christoph Mootz and published by GRIN Verlag. This book was released on 2004-07-27 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: 1,7 (A-), Technical University of Darmstadt (jurisprudence, law), language: English, abstract: “In the strict reflection there is no difference regarding the legal basis of risk management between now and yesterday, also according to the old law the management was obligated to recognize developments which were threatening to the existence of the company” is the comment of the minister of justice to the debate of the “Gesetz zur Kontrolle und Transparenz im Unternehmensbereich (KonTraG)”. Due to the raising rate of insolvencies, increasing number of company crises and because of the “corporate governance” discussion, the legislator recognized the need to develop a new law. The KontraG was introduced at the 5th of March 1998, which mainly influenced the “Aktien- and Handelsgesetzbuch”. The consequences of this law are discussed highly controversal by experts. There is no general opinion, particularly in terms of the commitment of the introduction of a risk management according to the §91 Abs.2 AktG. The following analysis of the legal basis specifies the de facto obligations of a stock corporation management in regards to risk management. Chapter 2 gives a theoretical and historical introduction into the topic of risk management. It is essential to understand the meaning of risk management in terms of how a manager, opposed to a lawyer, would define it. Chapter 3 discusses the legal foundation of risk management. In order to understand the different obligations required by the new law, the chapter is separated into the analysis of the old legal foundation then the new.
Download or read book Enterprise Risk Management in Europe written by Marco Maffei and published by Emerald Group Publishing. This book was released on 2021-05-04 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Enterprise Risk Management in Europe advances understanding of ERM in Europe, providing a novel and unique set of perspectives on the ongoing dynamics between ERM and corporate processes. This is an essential guide for researchers, practitioners and policy makers both in and beyond European borders.
Download or read book Insurance Law in Germany written by Robert Koch and published by Kluwer Law International B.V.. This book was released on 2023-01-20 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Derived from the renowned multi-volume International Encyclopaedia of Laws, this book provides valuable practical insight into both public supervisory legislation concerning insurance and private insurance contract law in Germany. An informative general introduction surveying the legal, political, financial, and commercial background and surroundings of insurance provides a sound foundation for the specific detail that follows. The book covers all essential aspects of the law and regulation governing insurance policies and instruments. Its detailed exposition includes examination of the form of the insurance company and its reserves and investments; the insurance contract; the legal aspects of the various branches of property and liability insurance; motor vehicle insurance schemes; life insurance, health insurance, and workmen’s compensation schemes; reinsurance, co-insurance, and pooling; taxation of insurance; and risk management and prevention. Succinct yet eminently practical, the book will be a valuable resource for lawyers handling cases affecting Germany. It will be of practical utility to those both in public service and private practice called on to develop and to apply the laws of insurance, and of special interest as a contribution to the much-needed harmonization of insurance law.
Download or read book The Law of Corporate Finance General Principles and EU Law written by Petri Mäntysaari and published by Springer Science & Business Media. This book was released on 2009-11-11 with total page 486 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three-volume book constitutes the first attempt to define corporate finance law as an independent field of law with its own principles and tools. The book also contains a unique theory of corporate governance with the firm as the most important principal.
Download or read book The Risks of Corporate Legal Principles of Risk Management written by Christoph Van der Elst and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance codes and corporate law contain provisions of internal control and risk management. First, this paper analyses the state of the art of these provisions in five Western European countries. The regulatory framework stretches from a Frühwarnsystem in Germany over the internal control report of the French chairman of the board and the internal control statement of the Dutch board to the European corporate governance statement and the UK sound risk management maintenance principle. Next, the paper provides insights how a sample of REIT's put the internal control and risk management rules and principles into corporate practice over the last decade. The analysis demonstrates that risk identification, financial risk management and risk response grew to an advanced stage while risk assessment - in particular the impact assessment of non-financial risks - and control activities are still in a development stage. The evidence shows that risk management practices are driven by regulation and legislation. Many but not all internal control features have been harmonized. The last section discusses some of the legal consequences of the finding that in view of both the regulatory developments and corporate practices new risks have emerged. First, the legal requirements as well as the eagerness of companies to fully comply with all best practices create a field of tension between the basic assumption of risk management frameworks in providing (only) reasonable assurance and the (reported) state of the art of managing and apparently controlling all (material) risks. Second, there is the risk related to the friction between the progress in identifying the risk management responsibilities of the concerned corporate parties while there is a standstill of other areas of law and in particular of the liability regimes.
Download or read book Research Handbook on International Insurance Law and Regulation written by Julian Burling and published by Edward Elgar Publishing. This book was released on 2012 with total page 883 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Global insurance and its rapidly evolving law and regulation demands international research. To this aim, the Handbook offers a truly international collection of essays. Highly renowned experts analyze the key topics currently under international discussion and development. While representing a diversity of national jurisdictions, the focus lies on the largest insurance jurisdictions (USA, UK and Germany) but newly important jurisdictions like Brazil and China are considered as well a most valuable and important contribution to international insurance law literature.' Manfred Wandt, Director of the Insurance Law Institute, Goethe-University Frankfurt, Germany 'This Research Handbook is published at an opportune time. A global review of insurance law and regulation is underway. Much reform happens locally with little reference to developments elsewhere and this Research Handbook brings the strands together. It is a comprehensive review by distinguished authors from different backgrounds including both leading academics and practitioners. They consider the definitions of insurance, its economic underpinnings, comparative law and regulations, actual and proposed reforms, the effects on underwriting and claims and how insurance is studied and taught. Good laws and regulation benefit the market and its customers. Bad laws and regulation do the opposite. This book is required reading for all involved in the reform process.' David Hertzell, Law Commissioner 'Globalisation has had no greater impact in the commercial world than on insurance, the law which governs it and the risks it seeks to address. Those who inspired this publication and the contributing authors, are to be thanked for providing such a necessary and useful reference source. It covers so much of what insurance professionals need to be aware of in the insurance/law world of the twenty first century.' Michael Gill, President of the International Insurance Law Association Given its economic importance, insurance is a field that has been underserved as an area of academic study. This detailed book provides much needed coverage of insurance law and regulation in its international context. Produced in association with Lloyd's, it draws on the expertise both of academics and practising lawyers. Containing 30 comprehensive chapters, it provides in-depth studies on key areas, such as the role of international organisations, the judicial interpretation of insurance contract clauses and transnational regulatory recognition. It also provides thorough introductions to important jurisdictions, including the EU, US and Japan as well as focusing on newly emerging economies such as China and Brazil. Specialist topics covered include regulation by and of Lloyd's, the tort of bad faith in the US, microinsurance and takaful insurance. This well-documented resource will appeal to academics and students in insurance law and regulation, policymakers and private practice lawyers. The book also aims to stretch the imagination of anyone with an interest in insurance law and regulation, providing detailed analysis and avenues for further investigation.
Download or read book Germany written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2022-08-03 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Sector Assessment Program (FSAP) conducted a focused review that primarily assessed banking regulation and supervision of Germany’s less significant institutions (LSIs).1 Germany accounts for 1,324 of about 2,400 total LSIs in the Euro Area (representing 40 percent of Germany’s banking sector assets and approximately 55 per cent of total Euro Area LSI assets). As Germany is part of the Euro Area, the regulation and supervision of banks takes place within the European Central Bank’s (ECB) Single Supervisory Mechanism (SSM). The Federal Financial Supervisory Authority (BaFin) and the Deutsche Bundesbank (BBk) are responsible, under the oversight of the ECB, for the supervision of LSIs.
Download or read book Proceedings in Finance and Risk Perspectives 12 written by and published by Othmar M. Lehner. This book was released on with total page 655 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Management written by Thomas Wolke and published by Walter de Gruyter GmbH & Co KG. This book was released on 2017-09-25 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the English edition of the German third edition, which has proven to be a standard work on the subject of risk management. The English edition extends the scope of use to the English-language bachelor's and master's degree courses in economics and for potential use (especially as a reference work) in the professional practice of risk management. The subject of the book is company-wide risk management based on the Value at Risk concept. This includes quantitative and qualitative risk measurement, risk analysis based on the RoRaC and various management tools for risk control. Other topics covered are the peculiarities of the various risk types, e.g. risk management of the effects of climate change, the global financial crisis and risk reporting. The book is rounded off by a comprehensive case study, in which all aspects are summarized. The volume is thus an indispensable standard work for students and practitioners.
Download or read book Risk Management in Medicine written by Walter Merkle and published by Springer. This book was released on 2015-12-14 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: To err is human, yet nobody wants to accept this fact. This is especially true in medicine! This book focuses on how human failures can be avoided in the medical context. Experts from different disciplines discuss the underlying causes of such failures and explain the techniques required to reduce their frequency. The principles of risk management are clearly described and lessons to be drawn from risk management in other sectors, such as aviation, are identified. Detailed consideration is given to all relevant risk management systems and tools, including Crew Resource Management (CRM), Failure Mode and Effects Analysis (FMEA), Critical Incident Reporting System (CIRS), Team Time Out (TTO) and Observational Teamwork Assessment for Surgery (OTAS). International legal experts discuss aspects of law relevant to risk management in medicine in the United States and Europe and careful attention is also paid to economic factors, bearing in mind that risk management saves not only lives but also huge amounts of money. This book will be of value to all individuals, organizations and authorities concerned with effective implementation of risk management in hospitals, including doctors, hospital administrators, insurance companies and government departments.
Download or read book Risk and the Law written by Gordon Woodman and published by Routledge. This book was released on 2008-08-22 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural and man-made risks have long been recognised as vital conditioning factors in the formation of social institutions and the conduct of social life. In this volume internationally recognised experts examine in detail the implications in practice of the modern concept of risk in particular legal fields. The chapters explore the ways in which the law in its many branches can accommodate, manage and reduce the extent of risk in the modern "Risk Society", matters of pressing importance for the development of all branches of law in all jurisdictions. The fields of activity affected by the issues discussed include law, medicine, insurance, state security and public health. The collection also contributes to comparative legal studies in respect of risk and the law, presenting a perspective which has largely been neglected outside the works of general theory. Thus the topics considered range from the civil law of injuries in Germany and the food law of the European Union, through sales of goods, including international sales, in English, German and French law, to the English law of torts. Risk and the Law, written by specialists who are authorities in their fields, will be of interest to academics and students who are interested in new developments and ideas regarding the relationship between risk, law and social change in many different fields.
Download or read book Risk Management Practices of SMEs written by Thomas Henschel and published by Erich Schmidt Verlag GmbH & Co KG. This book was released on 2008 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Value Oriented Risk Management of Insurance Companies written by Marcus Kriele and published by Springer Science & Business Media. This book was released on 2014-01-14 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk. This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on quantitative methods. With this book, the reader will additionally be able to critically appraise the applicability and the limits of the methods used in modern risk management. Value-oriented Management of Risk in Insurance focuses on risk capital, capital allocation, performance measurement and value-oriented management. It also makes a connection to regulatory developments (for example, Solvency II). The reader should have a basic knowledge of probability and familiarity with mathematical concepts. It is intended for working actuaries and quantitative risk managers as well as actuarial students.
Download or read book Corporate Governance and Risk Management in Financial Institutions written by Robert C. Gericke and published by Springer. This book was released on 2018-03-27 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an overview of corporate governance and risk management, analyzing their interdependence and particularly their relevance in banking. It discusses current trends in corporate governance, such as stakeholder management, financial performance and the cost of equity, compensation schemes, board structures and shareholder activism. Further, it reviews some of the most important regulatory changes introduced since the latest financial crisis and highlights their impact on the annual reports of the banks under analysis. Lastly, the book assesses and compares major banks in Brazil and Germany with special emphasis on the aspects mentioned above, revealing surprising similarities between the banking systems of these otherwise disparate countries.
Download or read book Corporate Governance Risk Management by State Owned Enterprises and their Ownership written by OECD and published by OECD Publishing. This book was released on 2016-10-19 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication takes stock of how SOEs and those exercising the state’s ownership role address the issue of risk management from the perspective of corporate governance (“risk governance”), as recommended in the OECD Guidelines on Corporate Governance of State-Owned Enterprises.
Download or read book The Law in the Information and Risk Society written by Gunnar Duttge and published by Universitätsverlag Göttingen. This book was released on 2011 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The information and risk society poses a new challenge for the law in all its fragments. Modern media communication and technologies increase people's prosperity while stating new risks with not uncommonly devastating crisis-potential: The banking crisis, the safety net for the euro zone and the nuclear incident in Fukushima are only the latest forms of those specific modern common dangers which the law is facing--in many cases due to it's domestically limited validity--not or not sufficiently prepared. In order to promote the international dialog within the jurisprudence there was a conference in October 2010 held by the faculty of law of the Georg-August-Universität, supported by the chair of GAU, together with the faculty of Seoul National University School of Law discussing main issues of law in a modern information and risk society. With this volume the results of this convention shall be made accessible to everybody interested"--Page 4 of cover.
