The credit risk
management industry will come together later this month at a hotel in Chicago in order to gain knowledge from some of the most successful businesses in the field.
The Enterprise Risk Management Symposium will take place in Chicago, Illinois, at the Swissotel Chicago and will last from March 14-16, bringing together those working in the industry to learn about the most current trends and how risks can be better managed. The organizers hope to bring gather people who can give different perspectives on common challenges. "By bringing together ERM knowledge from a variety of industries, the ERM Symposium aims to build a strong cross-disciplinary framework for senior management to create systematic value and competitive advantage through effective managing of risk and capital," organizers said in a statement regarding the event. The event will begin with 30 concurrent sessions and five more general sessions, which will feature the top risk management professionals in the country. It will also give people in attendance the chance to network with potential clients or business partners and create connections that may help their bottom lines. One of the concurrent sessions is titled Optimal Layers for Cat Reinsurance & Investment and Reinsurance Counterparty Risk, a two-part presentation. The first part will show business owners best practices when it comes to "determining the optimal catastrophe reinsurance layer by maximizing the risk-adjusted underwriting profit within a classical mean-variance framework." The second part will feature ways for businesses to limit exposure to bad debts. "The second part of this session is on reinsurance counterparty risk, which represents the largest source of potential bad debt exposure for property casualty insurance and reinsurance organizations. Traditional methods of evaluating this risk may fall short of rating agencies' and companies' internal needs," the organizers said in a statement. One of the companies sponsoring the 2011 Enterprise Risk Management Symposium is A.M. Best. The company specializes in providing issuer credit ratings and debt ratings for a variety of industries around the world. The New Jersey-based firm was founded in 1899, according to its website, and has been dedicated to helping those in the insurance sector ever since.