OREANDA-NEWS. November 2, 2010. Rating agency Expert Ra granted Ingosstrakh OJSIC and Ingosstrakh Investments Management Company OJSC diplomas for integrated approach to risk management within the framework of the VII annual conference “Risk Management in Russia - 2010” which took place on October 26 in Moscow. At the event in the “Risk management as the clients’ interests protection instrument” section Nikolay Galushin, Ingosstrakh Deputy Director General, delivered a report on enterprise risk management estimation during crisis. Farid Yunusov, Director General of Ingosstrakh Investments, took part in the plenary discussion.

The main purpose of the event according to the organizers is to contribute to cutting losses by the state and business due to ineffective finance risks management. Expert Ra proposes to create the instrument for common market risk management system – Finance Risks Management Code. The basic provisions of the document are being developed by Expert Ra on the basis of the data received during the interactive research of Russian risk management practices, and also the foreign finance markets risk management standards.

During the conference representatives of the finance market regulators, professional self-regulating organizations, major banks, insurance companies, management companies and research and production companies using the innovative risk management practices took part in the Code discussion. Section discussion touched upon the most interesting cases of the companies risk management anti-crisis effectiveness in 2009-2010. In the future the basic provisions of the Code will be transferred to governmental authorities and media. This document may become the minimum risk management industry standard and the basis for the future unified system of market risk management.