Wednesday June 5, 2019
The common law and regulatory climates of North American health
systems have been shaped by an Anglo-Saxon heritage regarding the
role of the corporation. This view of the corporation has, in turn,
shaped the role and responsibilities of corporate bards as they
perform certain key fiduciary duties wisely. At the 2018 Cayman
Captive Forum, our session on governance trends and best practices
for risk management sought to position the role of boards to not so
much be experts in risk management, but to be enablers of a
superior risk management culture that supports talented executives
and risk management professionals to master and continuously
enhance the use of modern Enterprise Risk management principles,
policies and practices.
This paper has been modified from discussions at the recent
Cayman Captive Forum organized by the Insurance Managers
Association of Cayman (MAC). Requests at the Forum for materials
that might help stimulate health systems boards to enhance the
effectiveness of their enterprise risk management encouraged the
authors to assemble and share this collection of ideas and insights
about governing modern risk management strategies and
structures.
2019 Health System Boards and Cultures that
Support Effective Enterprise Risk Management White paper