chunk1

ABSTRACT. This study examined the impact of risk management practices—specifically risk assessment, risk treatment, and risk monitoring & review—on the performance of insurance companies in Palestine. Addressing a significant gap in the literature, the research surveyed 140 randomly selected employees from 12 insurance companies in Palestine using a structured online questionnaire in June 2024. Statistical analysis with SPSS confirmed the tool’s reliability and validity, while Pearson correlation analysis revealed positive relationships between business performance and both risk assessment and risk monitoring & review. These findings suggested that as these practices increased, business performance also improved. However, the relationship between risk treatment and business performance was not statistically significant. The study supported the hypotheses that risk assessment and risk monitoring & review positively affected business performance while rejecting the hypothesis regarding risk treatment. Recommendations include enhancing focus on risk assessment and risk monitoring & review, adopting comprehensive risk management strategies, and promoting a proactive risk management culture. Further analysis is advised to evaluate the overall model fit and robustness of the results.
JEL codes: D12; D22; D91; L66; E71

Keywords: risk identification; risk management practices; business performance; insurance companies; Palestine; risk

How to cite: Makkawi, H. (2024). “Risk Management Practices and Performance of Insurance Companies in Palestine,” Economics, Management, and Financial Markets 19(4): 33–57. doi: 10.22381/emfm19420243.

Received 11 July 2024 • Received in revised form 5 August 2024
Accepted 6 August 2024 • Available online 25 August 2024

Home | About Us | Events | Our Team | Contributors | Peer Reviewers | Editing Services | Books | Contact | Online Access

© 2009 Addleton Academic Publishers. All Rights Reserved.

 
Joomla templates by Joomlashine