The Thailand Office of Insurance Commission held an academic seminar on insurance risk governance, positioning Enterprise Risk Management (ERM) and Own Risk and Solvency Assessment (ORSA) as core tools for improving firms’ ability to identify, manage and capitalise risks amid new economic, social and technological challenges, including environmental, social and governance (ESG) and climate-related risks. Discussions highlighted how ERM and ORSA support systematic risk assessment and testing of capital adequacy under different scenarios, and underscored the role of the Risk Management Committee (RMC) in setting risk policy, linking risk to strategy, and monitoring alignment with the firm’s risk appetite at board level. The agenda also included presentations on CAT Risk Survey findings and expert input on ESG and climate risk management, alongside dialogue on developing a more flexible and modern supervisory framework for emerging risks.
Thailand Office of Insurance Commission 2025-12-15
Thailand Office of Insurance Commission convenes seminar to strengthen insurers’ risk governance via ERM, ORSA and ESG
The Thailand Office of Insurance Commission hosted a seminar on Enterprise Risk Management (ERM) and Own Risk and Solvency Assessment (ORSA) as tools for navigating challenges, including ESG and climate risks. Discussions focused on systematic risk assessment, capital adequacy testing, and the Risk Management Committee's role in aligning risk policy with strategy. The event also covered CAT Risk Survey findings and the need for a modern supervisory framework for emerging risks.