This case study describes how the Zurich Insurance Group has implemented and evolved its enterprise risk management (ERM) approach for more than 10 years across the globe. It describes how Zurich has organized its governance structures and ERM champions to help integrate ERM into the business model that focuses on promptly identifying, measuring, managing, monitoring, and reporting risks that affect the achievement of strategic, operational, and financial objectives. This includes adjusting their risk profiles to be in line with Zurichâs stated risk tolerance to respond to new threats and opportunities in order to optimize returns. Conduct a review of the literature on this case study and write a literature review on this topic. There are many sites that can assist in the formatting and content of a literature review. Here is an example: http://guides.lib.ua.edu/c.php?g=39963&p=253698
Some of the questions or areas to consider are:
- How do Zurich ERM tools help them better understand their existing and emerging risks?
- How are Zurichâs risk roles and responsibilities impacting their risk culture?
- Why is it important to include a Business Resilience program in your organizationâs ERM program?
- How is Zurichâs Capital Management program helping their ERM program?
- Give some examples on how Zurich has created new value through their ERM program.
Sample Solution
In 2014, Ryan Moore adopted three 8-week-old bunnies from the Freedom + Rescue Project, a nonprofit organization that rescues animals from laboratories once they were done being experimented on. One of the bunnies died just after a month later, and another one after two to three years. Four years later, Moore noticed that his third rabbit, Marilyn, was eating less and had slight wetness around her eyes and nose, all symptoms of a sick bunny. He took her to the vet, but the veterinarian believed Marilyn was fine and gave her an antibiotic. Just after a few days, Moore woke up to the sound of Marilyn screaming; she was hopping around unbalanced and was out of breath. Moore helplessly watched as Marilyn died a painful and violent death. Well-looked-after bunnies typically live up to ten years. Moore said, âI donât know for certain if Marilynâs death at 4 years old was a result of the experiments performed on her, but the other two rabbits I adopted were from the same batch from the same lab ⦠I now know that the other two died the same horrific death because I found them in identical circumstances to Marilynâ (Moore). Not only did Moore adopt bunnies from the Freedom + Rescue Project, but he also adopted Bowie, a cat, back in 2013. He was a few months old when he left the lab and had a huge incision on his back. According to Moore, although Bowie is good with other animals and somewhat affectionate with his owner, he is terrified of other people; he hides for hours whenever Moore has guests over and doesnât allow anyone to restrain him in any way (Moore). Whether someone agrees with animal testing or not, it is not debatable that animal testing poses great trauma and fear for vulnerable animals who are forced to suffer in these labs, as seen with Marilyn and Bowie. Animal testing can date back to 500 BC when people performed a practice called vivisection, the dissection of live animals for the purpose of scientific research. Physicians like Aristotle, Herophil>
In 2014, Ryan Moore adopted three 8-week-old bunnies from the Freedom + Rescue Project, a nonprofit organization that rescues animals from laboratories once they were done being experimented on. One of the bunnies died just after a month later, and another one after two to three years. Four years later, Moore noticed that his third rabbit, Marilyn, was eating less and had slight wetness around her eyes and nose, all symptoms of a sick bunny. He took her to the vet, but the veterinarian believed Marilyn was fine and gave her an antibiotic. Just after a few days, Moore woke up to the sound of Marilyn screaming; she was hopping around unbalanced and was out of breath. Moore helplessly watched as Marilyn died a painful and violent death. Well-looked-after bunnies typically live up to ten years. Moore said, âI donât know for certain if Marilynâs death at 4 years old was a result of the experiments performed on her, but the other two rabbits I adopted were from the same batch from the same lab ⦠I now know that the other two died the same horrific death because I found them in identical circumstances to Marilynâ (Moore). Not only did Moore adopt bunnies from the Freedom + Rescue Project, but he also adopted Bowie, a cat, back in 2013. He was a few months old when he left the lab and had a huge incision on his back. According to Moore, although Bowie is good with other animals and somewhat affectionate with his owner, he is terrified of other people; he hides for hours whenever Moore has guests over and doesnât allow anyone to restrain him in any way (Moore). Whether someone agrees with animal testing or not, it is not debatable that animal testing poses great trauma and fear for vulnerable animals who are forced to suffer in these labs, as seen with Marilyn and Bowie. Animal testing can date back to 500 BC when people performed a practice called vivisection, the dissection of live animals for the purpose of scientific research. Physicians like Aristotle, Herophil>
