2016

The Undoing Project

This is the extraordinary story – The Undoing Project: A Friendship that Changed the World, published by W.W. Norton & Company – of the two men whose ideas changed the world. Daniel Kahneman and Amos Tversky met in war-torn 1960s Israel. Both were gifted young psychology professors: Kahneman a rootless son of holocaust survivors who saw the world as a problem to be solved; Tversky a voluble, instinctual blur of energy. In this breathtaking new book, Michael Lewis tells the extraordinary […]

Vers l’e-citoyenneté et l’e-administration

Quels risques pour les collectivités? Compte-rendu d’atelier par PRIMO France. Introduction L’édition 2016 du Congrès du Syndicat National des Directeurs Généraux des Collectivités Territoriales a permis à PRIMO France de présenter et rappeler lors d’un atelier l’importance des cyber-risques et les enjeux majeurs qu’ils représentent dans le Service Public, en partenariat avec Marsh France. Vous trouverez en cliquant ici un compte-rendu détaillé de l’intervention de M. Gérard Combe, Président de l’association PRIMO France et de M. Thomas Graiff, Responsable Secteur Public chez Marsh France. […]

PRIMO Risk Management Award for the City of Utrecht

The city of Utrecht received the PRIMO Risk Management Award for their excellent organisation of Le Grand Départ de Tour de France 2015. On the 9th of December 2016, chairman of PRIMO Nederland, Michel Bezuijen, handed over the award to the mayor of the municipality of Utrecht, Jan van Zanen. The choice for Utrecht was based on the ‘excellent’ in the evaluation report by the Utrecht University, the way the project team built in risk management in their daily work and the direct […]

Terrorism Risk and Insurance

The leading Insurance Information Institute gives insight in the connection of terrorism risk and insurance. Of course we have -at all times – to protect our citizens and society from heavy losses and essential disruption. But in case of an emergency, what can the public relevance of insurance be? What actually can be insured and what not? “In addition to the risk of natural disasters, the insurance industry faces the threat of terrorist attacks. Losses stemming from the destruction of the World Trade Center and other […]

ISO 22316: Security and Resilience

The new ISO 22316 standard about organizational resilience will be published ultimo at the beginning of 2017. It has been developed by the ISO/TC 292 – Security and resilience – committee of the International Organization for Standardization in Geneva. Organizational resilience is the ability of an organization to respond and adapt to change. Resilience enables organizations to anticipate and respond to threats and opportunities, arising from sudden or gradual changes in their internal and external context. Enhancing resilience should be a strategic organizational goal. It is […]

Political Risk

With the (unexpected) outcomes and results of elections and referenda it becomes more and more evident that politics – and with that the shift of power and influence – is one of the drivers of public risk. The unpredictable working of politics – and in fact of society itself – with the democratic system is therefore in discussion, and even the system of democracy itself. What is political risk? According to Wikipedia our collective definition is: Political risk is a type of risk faced […]

Social Cohesion and Elections

By Jack P. Kruf One of the documents we had on the table during the founding of PRIMO in Strasbourg, back in 2005, was the policy report by the European Council “A new strategy for Social Cohesion“. It is still ground breaking because of it’s integrated approach of social cohesion and the hereto related public risk governance. It came directly to my mind seeing the series and documentaries – before and during the presidential election – about the state of US society. It is one of the frames which […]

Malta Seminar: Climate Change and Disaster Risk Reduction

Trends and Economic Challenges in Malta as part of the ‘Climate Change Research Seminar Series’. Date: Tuesday 29th November 2016 Organisation: by the Climate Change Research Platform of the University of Malta* and PRIMO** Venue: IT Services Building, Room VC102, Malta University The Climate Change Platform (CCP) was set up, under the auspices of the Islands and Small States Institute, to facilitate collaborations between University of Malta entities and individuals interested in climate change issues, and to promote research and […]

Health and Safety Risk Management Review

PRIMO: This approach and methodology of Risk Management Partners and Gallagher Basset can result in a systematic and thorough picture of the actual health and safety aspects in a public organisation. It above all gives input for concrete management measures. The processes review and implementation are well interlinked and based on practical experiences. It is a tool for proactivity. Source: Risk Management Partners Overview Every working day in Great Britain at least one person is killed and over 6,000 are injured at work. Every […]

The Global Competitiveness Report

Source: World Economic Forum. We face a large challenge—how to build a more prosperous and inclusive world for all. As a flagship effort of the Forum’s System Initiative on Economic Growth and Social Inclusion, The Global Competitiveness Report serves as a tool for public-private collaboration on long-term competitiveness agendas contributing to this objective. From the perspective of the Global Risks Report this report highlights governance and management approaches which can be helpful in reaching values and objectives on one hand and […]

COSO: Guide for Fraud Risk Management

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has developed – such in collaboration with the Association of Certified Fraud Examiners (ACFE), The Institute of Internal Auditors and American Institute of CPA’s (AICPA) –  an integrated fraud risk management program to support organisations with tracing, treat and control: Fraud Risk Management Guide. This guide provides implementation guidance that defines principles and points of focus for fraud risk management and describes how organizations of various sizes and types can establish their own fraud risk management program. It also includes examples […]

Risk Managers are developing strategic Role and wider View of Risks

Source: FERMA. European risk managers are taking a more strategic role in their companies with increasing access to top management levels and the board. Against this background, they have a wider vision of the risks that could affect the ability of business to achieve its objectives. These are the key conclusions of the 8th European Risk and Insurance Survey conducted by the Federation of European Risk Management Associations (FERMA) and reported in the FERMA European Risk and Insurance Report. The […]

Cyber Risk demands Insurance and Risk Management

Cyber risk is no longer considered an emerging risk. Every organization should consider the financial statement impact of cyber exposures. Cyber risk is not static, and as such our framework serves as a tool for holistic cyber risk management. Aon Risk Solutions has launched insurance covers with the aim to extent on existing and more traditional cyber policies with embedding system failures, legal aspects and managerial aspects of the organisation. A noteworthy document to read for every manager because it highlights the crucial points […]

UK Cyber Risk Survey Report 2016

Source: Marsh Despite a 56% rise in boardroom ownership of cyber risk, the majority (64.6%) of UK firms are still failing to conduct or estimate the financial impact of a cyber attack, according to Marsh’s UK Cyber Risk Survey Report 2016. The report – which is based on the responses of risk professionals and CFOs from large and medium-sized corporations from across the UK – provides an in-depth study into UK organisations’ attitudes towards the cyber threat, the management control processes […]

Strategic decisions: When can you trust your gut?

Source: McKinsey Quaterly. A classic article from 2010: “Nobel laureate Daniel Kahneman and psychologist Gary Klein debate the power and perils of intuition for senior executives. For two scholars representing opposing schools of thought, Daniel Kahneman and Gary Klein find a surprising amount of common ground. Kahneman, a psychologist, won the Nobel Prize in economics in 2002 for prospect theory, which helps explain the sometimes counterintuitive choices people make under uncertainty. Klein, a senior scientist at MacroCognition, has focused on the power […]

A New Climate for Peace

Source: G7 “Taking Action on Climate and Fragility Risks” An independent report commissioned by members of the G7, identifies seven compound climate-fragility risks that pose serious threats to the stability of states and societies in the decades ahead. Based on a thorough assessment of existing policies on climate change adaptation, development cooperation and humanitarian aid, and peacebuilding, the report recommends that the G7 take concrete action, both as individual members and jointly, to tackle climate-fragility risks and increase the resilience […]

Flooding after Storm Desmond

Source: Zurich The storms that battered the north of England and parts of Scotland at the end of 2015 and early 2016 caused significant damage and disruption to families and businesses across tight knit rural communities and larger towns and cities. This came just two years after Storm Xaver inflicted significant damage to the east coast of England. Flooding is not a new threat to the residents of the Lake District, but the severity of the events in December 2015 […]

World Risk Report 2016

Source: United Nations University When an extreme environmental hazard strikes, infrastructure can be a deciding factor in whether or not the situation becomes a disaster. Roads, for example, can provide access to quickly supply relief aid to affected communities; but if roads are destroyed, entire regions can be cut off from support. The World Risk Report 2016, published on 25 August by UNU-EHS and Bündnis Entwicklung Hilft, analyses the role that infrastructure plays in shaping a country’s disaster risk. The World Risk Index, calculated […]

Transforming enterprise risk management for value in the insurance industry

By McKinsey&Company Leading insurers are retooling the role of their risk function from incident response and compliance to an essential partner in advancing the business strategy. The value of enterprise risk management (ERM) in the insurance industry was given a decisive demonstration in the financial crisis. McKinsey research showed that the better their ERM systems, the better insurers performed financially in 2008 and 2009. >>

EU Migration Crisis Update

According PRIMO one of the main public risks is  – caused by the way we manage the migrants in a very slow and non-systemic way – the harm we do to the resilience and self respect of individual humans and their integration in public society. This update by Medecins Sans Frontiers (MSF) is an impressive and in depth story of ourselves. It proofs once again that risk management is still lacking momentum and is considered mainly from a higher ground perspective. Still public […]

High and Dry: Climate Change, Water and the Economy

By World Bank Group From Executive Summary: “The impacts of climate change will be channeled primarily through the water cycle, with consequences that could be large and uneven across the globe. Water-related climate risks cascade through food, energy, urban, and environmental systems. Growing populations, rising incomes, and expanding cities will converge upon a world where the demand for water rises exponen- tially, while supply becomes more erratic and uncertain. If current water management policies persist, and climate models prove correct, […]