Which of the following roles is primarily responsible for managing insurance risks?

The role primarily responsible for managing insurance risks is that of a risk manager. A risk manager is tasked with identifying, assessing, and prioritizing risks that could affect an organization. They develop strategies and policies to mitigate these risks, which can include financial, operational, strategic, or hazard-related risks. This involves understanding both internal and external factors that could pose a threat to the organization, and implementing measures to minimize their impact.

In the realm of insurance, risk managers work closely with insurers and underwriters to ensure that appropriate coverage is in place and that potential risks are adequately addressed. By proactively managing these risks, a risk manager plays a crucial role in safeguarding the organization's assets and ensuring business continuity.

While the other roles, such as insurance brokers, managing general agents, and underwriters do involve elements of risk handling, they typically focus on different aspects of the insurance process. Brokers act as intermediaries between clients and insurers, general agents have specific authority to underwrite and manage accounts on behalf of the insurer, and underwriters evaluate risks and determine the terms of insurance coverage. However, the core responsibility of managing risks and developing strategies to handle them falls squarely within the purview of the risk manager.