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Definition of Risk
The probability of the actual value moving unfavorably from the expected value for each management element, that is, uncertain factors relating to the achievement of long-short term management objectives.
Major tasks
Classification Comment
Insurance risk the case where insurance payouts etc. exceed the forecasted levels due to the occurrence of extraordinary situations or changes in economic environment
> product development risk, insurance takeover risk, insurance sales risk
Financial risk the case where the financial value of assets decrease due to the unfavorable fluctuation in economic environment and related indices
> credit risk, market risk, asset allocation risk, interest rate risk, liquidity risk
Business risk decrease in solvency due to weakening management environ-ment and inefficient management, IT system errors, violation of administrative standards by staff etc. and the possibility of financial or non-financial loss in the overall management
> solvency risk, IT risk, compliance risk
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