2015

Good Government and Coordination

By Jack Kruf. The painting in the Town Hall of the City (and from Republic) of Siena is called The Allegory of Good and Bad Government. It is a series of three fresco panels painted in the Sala Dei Nove by Ambrogio Lorenzetti in 1338/1339. The series consists of six different scenes: Allegory of Good Government, Allegory of Bad Government, Effects of Bad Government in the City, Effects of Bad Government in the Country, Effects of Good Government in the City and Effects of Good Government in the Country.  The only way to get […]

Compliance Horizon Survey 2015

The Risk Advisory Group surveyed over 200 compliance professionals in their Compliance Horizon Survey 2015 from across the UK, Europe and beyond to pinpoint the key issues for the industry going in to 2016.  The respondents said they exposed to risk and lack confidence in their team’s resources to protect the business. The headlines: Quote The majority (83 per cent) of compliance professionals feel that compliance has become more complex in the past two years, with larger businesses feeling this more acutely. […]

Territorial Cohesion and Urban Policy

Committee of the Regions | 27 November 2015 On the occasion of the informal ministerial meetings on Territorial Cohesion and Urban Policy which took place on November 26th and 27th, ministers discussed how to keep a balance in the development opportunities on the European Territory.  In the first place, ministers agreed that the European integration is actually under pressure. Europe is losing cohesion in many fields. One of the most apparent consequences is the uneven response to the migration crisis. The lack […]

‘From Global to Local’ The Hague

Think Tank PRIMO & UDITE, 24 april 2015, Amsterdam The Global Risk Report 2014 of the World Economic Forum is clearly designed for global issues, sometimes related to the national level, but most of the times on a larger than that. The report gives a general outline of the most relevant risks. We know that not all risks can be handled and reduced on local level, but we know from our network that many local and regional public leaders and the […]

Breaking the Tragedy of the Horizon – climate change and financial stability

Mike Carney, Governor of the Bank of England Chairman of the Financial Stability Board, gave its speech at  Lloyd’s of London, 29 September 2015. He focuses on the facts and the consequences for our architecture of government, safety, insurance and financial stability of the world economy. A quote: “There are three broad channels through which climate change can affect financial stability: First, physical risks: the impacts today on insurance liabilities and the value of financial assets that arise from climate- […]

Lloyd’s City Risk Index 2015-2025

Lloyd’s City Risk Index 2015-2025 analyses, for the first time, the potential impact on the economic output (GDP@Risk) of 301 of the world’s major cities from 18 manmade and natural threats: 301 cities, 18 threat, US$4.56trn at risk. Based on original research by the Cambridge Centre for Risk Studies at the University of Cambridge Judge Business School, the Index shows how governments, businesses and communities are highly exposed to systemic, catastrophic shocks and could do more to mitigate risk and improve resilience. Identifying the […]

Quality Manager becomes Risk Manager in ISO 9001:2015

ISO 9001:2015 sets out the new criteria for a quality management system and is the only standard in the family that can be certified to. It can be used by any organization, large or small, regardless of its field of activity. In fact, there are over one million companies and organizations in over 170 countries certified to ISO 9001. Interesting now is that the new standard is based on a number of quality management principles including a strong customer focus, […]

Re-Thinking Public Risk

By Jack P. Kruf This newly designed PRIMO Magazine is dedicated to the process of rethinking of public risk. The term is so ambiguous that we think that more focus and precision in the use of the term public risk is needed. In fact public risk is closely linked to public value. Based on COSO II and ISO 31000 public risk can be defined as a deviation of our desired quality of life. It is not only risk  within public organisations but in […]

EU Cyber Security

Securing network and information systems in the EU is essential to ensure prosperity and to keep the online economy running. The European Union works on a number of fronts to ensure cybersecurity in Europe, from providing the delivery of better internet for kids to implementing the international cooperation on cybersecurity and cybercrime.Digital technologies and the Internet are the backbone of our society and economy; they are key enablers of prosperity and freedom. Network and information systems can be affected by […]

AON’s Political Risk Map

Aon Risk Solutions, announced that its Interactive Political Risk Map. The online interactive map complements the print map, and was launched in partnership with Roubini Global Economics to expand the suite of tools offered to clients. It draws on 15 years of emerging market data collection to measure political risks in 163 countries and territories to help companies assess the risk levels of exchange transfer, legal and regulatory risk, political interference, political violence, sovereign non-payment, supply chain disruption, risks to doing business, banking sector vulnerability and risks […]

Swiss Re SONAR: New emerging risk insights

Swiss Re update report highlights new and emerging risks the re/insurance industry expects to face over the next few years: SONAR report looks at 21 emerging risk themes, their potential impact and cascading effects across the industry. The four emerging risks with the highest potential impact are de-globalisation, super natural catastrophes, the “great monetary experiment” and the challenge of the “Internet of Things”. Key drivers of the changing risk landscape are new economic, technological, socio-political and environmental developments as well […]

Future of Insurance

How the tech- revolution is reshaping the way claims are handled. The insurance industry is undergoing a revolution – technological advancements are transforming how claims are processed, putting an end to labour-intensive systems. Europe-based manufacturer discovered recently, the value of a policy often becomes evident only after a company has suffered a loss and made a claim. Managers at the firm in question were shocked to discover that the company’s insurance covered only 85% of what turned out to be […]

The strategic importance of risk managing the supply chain

Risk managers should keep a handle on their supplier relationships as this can lead to significant gains. The corporate risks posed by a potential supply chain failure are leading more risk managers to keep a close handle on their supplier relationships and they are finding, in some instances, that significant gains can be made in the process. The latest spate of negative headlines about UK-based corporates that have been found wanting in their governance of suppliers or have suffered operational […]

2015 Global Risk Management Survey

“Our 2015 Global Risk Management survey, compiled from responses from over 1,400 risk management professionals in 60 countries, shows companies grappling with new risks but differing on how they rank and how best to address them. Threats to companies’ reputations and cyber risk rank high among business leaders’ top risk concerns, while economic and regulatory risks along with increased competition and the inability to retain or recruit needed talent continue to rank high. The survey results offer answers to many […]

Public Perceptions of Climate Change as a Human Health Risk

Surveys of the United States, Canada and Malta International Journal of Environmental Research and Public Health “We used data from nationally representative surveys conducted in the United States, Canada and Malta between 2008 and 2009 to answer three questions: Does the public believe that climate change poses human health risks, and if so, are they seen as current or future risks? Whose health does the public think will be harmed? In what specific ways does the public believe climate change will […]

The development of Cyber Insurance

Cyber Risk & Insurance Forum (CRIF) “In Boardrooms around the world cyber insurance is an important subject that is gaining in profile and importance. In this article Daljitt Barn, Cyber Director of PwC, looks at the how the Cyber Insurance Sector has evolved over the past four years and what the next few years may bring. For purists out there, I acknowledge that what might be termed Cyber Insurance has been around as a specialty line for some years. More recently […]

The Sixth Extinction?

Can extinction of species be a threat to our public values and for a personal, social or environmental stability. We think it is. We feel extinction is often being dismissed out of hand, downplayed, put in ‘perspective’ and seen as irrelevant – as if new species can develop within years –  and not seen as a not essential part of resilience. Species are often not be considered as part of a system, as element in a ecological chain, as stand alone […]

ISO 31000 – Risk Management

PRIMO has selected ISO 31000 as one of it’s main frames of thinking in approaching public risks. The International Organization for Standardization: “Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as well as environmental, safety and societal outcomes. Therefore, managing risk effectively helps organizations to perform well in an environment full of uncertainty.” ISO 31000:2009 ISO 31000:2009, Risk management – Principles and guidelines, provides principles, framework and a process for managing risk. It can be used […]