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UNI Finance, together with TUAC (the Trade Union Advisory Board to the OECD) replied to the OECD consultation on Guidelines on Insurer Governance.



A main point is that better involvement of employees in risk management is a key to a better risk culture in companies. Employees have important knowledge about the actual practices in companies. This information can contribute to a more complete picture of the risk situation in a company and thus act as early warning mechanism.



It is also important that a sound risk culture exists troughout the company. Companies should train employees to ensure a high risk awareness at all levels and in all functions. Furthermore, there should be more focus on implementing risk policies . All too often, very fine policies exist at top level in the company, but are not implemented at lower levels.



The contribution is enclosed this article. See also the UNI Europa Finance contribution to the EU Commission's consultation on corporate governance in the finance sector (in related articles.