The Portuguese Insurance Regulator (ASF) held its first Risk Management 360° Forum, bringing together insurers’ risk management heads and supervisory staff to discuss current and emerging risks to the insurance sector. Discussions addressed financial stability, organizational resilience and the role of risk management amid economic, technological, climate and geopolitical challenges. The forum included presentations of the latest Risk Outlook and the main conclusions of the Annual Report on Climate Risk Exposure of the Insurance and Pension Fund Sectors. A debate on digital operational resilience focused particularly on frontier artificial intelligence models. Discussions also highlighted how value for money affects conduct and reputational risks, emphasizing the need for products and services to offer customers appropriate value relative to their costs and characteristics.
Portuguese Insurance Regulator holds inaugural risk management forum on emerging insurance risks
The Portuguese Insurance Regulator (ASF) convened its inaugural Risk Management 360° Forum with insurers’ risk management heads to examine emerging risks and organizational resilience. Topics included climate risk exposure, digital operational resilience with a focus on frontier artificial intelligence models, and the conduct and reputational risks associated with value for money.