American Journal of Business and Operations Research AJBOR 2692-2967 2770-0216 10.54216/AJBOR https://www.americaspg.com/journals/show/1576 2018 2018 Fundamental economics department, Tashkent State University of Economics, Uzbekistan Sherkulov S. E. ugli Risk if not well managed could lead to collapse for most organizations especially those whose core business deals with day-to-day handling of risk. Risk management should, therefore, be at the core of an organization’s operations by integrating risk management practices into processes, systems, and culture of the entire organization. This involves identifying and analyzing risks, developing, and implementing risk handling techniques and monitoring the progress of these to avoid andor reduce the impact of risk on the financial performance of the company. Furthermore, insurance company under concern should follow current international leading practice by adopting Enterprise Risk Management (ERM) which incorporates other insurance risk quantification models. This will ensure that the companies remain afloat during such times of strict regulatory regimes such as solvency 11 and Basel. 2023 2023 26 32 10.54216/AJBOR.090103 https://www.americaspg.com/articleinfo/1/show/1576