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Strategic Risk Consulting


Hanover Stone Solutions (HSS) provides customized strategic risk solutions, including enterprise risk management (ERM), exclusively to insurance organizations that recognize the value of using risk-based decision-making processes to manage risk across all phases of their operations. HSS draws on the expertise of more than twenty five ERM professionals including career insurance executives, former chief risk officers and former insurance regulators.


Strategy is integral to ERM which has made tremendous strides in becoming an accepted and integrated part of the culture of an increasing number of companies. The paradigm has shifted from traditional risk management as a protector of corporate assets to one of understanding that risks, their impact and possible mitigation are essential to core decision-making and strategic business planning.

An effective ERM program can: 

  • Build measurable value and return on investment that is broader than regulatory or board mandated compliance exercises

  • Strengthen operating and  financial results and create best practices

  • Facilitate regulatory compliance for Own Risk & Solvency Assessment (ORSA)

  • Influence rating agency evaluations, which have become more ORSA-centric

HSS Services
HSS Services
HSS Team

HSS differentiators include experience, flexibility and independence.  There is no hidden agenda to sell other products. Fostering sustainable value at a reasonable price ensures our client relationships are based on mutual trust and understanding.  HSS is well positioned to partner with all organizations from those just beginning to explore the concept of ERM to those seeking to refine or enhance a mature program.  

Diagnostic Strategies & ERM Plan Evaluation:  In a limited, flat fee engagement, HSS can evaluate strategies and existing ERM plans for gaps and opportunities.


New ERM Plan Development & Implementation:  HSS can assist management with building a value-driven ERM framework that will lead to ORSA compliance.


ERM Plan Update/Compliance Assessment:  HSS can perform a detailed review and close compliance gaps to improve an existing plan while guiding the client's senior management through the risk identification, assessment and modeling process. The objective is to facilite the adoption of an updated ERM action plan that is customized to the client's unique circumstances.


ERM Plan Enhancement:   For organizations seeking to enhance their ERM plan and adopt a value-based approach to risk management, HSS can help clients establish a valuation model based upon the magnitude and longevity of their cash flows/earnings. HSS can help identify crucial business model constraints and compliance issues and partner with the client in developing innovative solutions focused on achievable objectives and sustainable success.


ERM Training & Professional Development:  HSS can provide educational training sessions delivered by industry veterans and ERM experts, tailored to audiences, including insurance companies, non-profit organizations, institutes of higher education and state insurance regulators.

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