handling risks

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 […]

Claims management

In the daily practice of risk management the profession of claims management within the local governmental sector in our view is strongly undervalued. It seems that that claims handling is strongly correlated to the culture of a country. While in England and Wales claims management has developed towards a true profession, in the rest of Europe this focus on organisational and public values […]

Insurance Act 2015

The legislation will introduce fundamental reforms, including key changes to the duty to make a fair presentation When the Insurance Act 2015 comes into force in August 2016, it will introduce fundamental changes to UK insurance contract law. Risk managers will welcome the reforms and are being encouraged to prepare for the changes well in advance of next year. Airmic has urged […]

Paris should prepare now for risk of a costly Seine flood

January 24, 2014, Organisation for Economic Co-operation and Development (OECD) Quote press-release: “24/01/2014 – A major flooding of the Seine River similar to the flood disaster of 1910 could affect up to 5 million residents in the greater Paris area and cause up to 30 billion euros worth of damage, according to a new OECD report. Economic growth, jobs and […]

WWF’s Perspective on Climate Change

By WWF (quote from page 10) “Climate change is threatening up to 1/3 of animal species with extinction. While the impacts of global warming are only just starting, the decisions that are influencing those impacts are being made now. Climate change threatens to undo everything that conservation organizations like WWF have achieved over the last half-century. Polar bears may make […]

Innovation Risk: How to Make Smarter Decisions

By Robert Carhart Merton for Harvard Business Review New products and services are created to enable people to do tasks better than they previously could, or to do things that they couldn’t before. But innovations also carry risks. Just how risky an innovation proves to be depends in great measure on the choices people make in using it. Ask yourself this: […]

ISO 31000 and the Icelandic volcano crisis

By Kevin Knight The air traffic crisis provoked by the Icelandic volcano eruption, with its accompanying economic and societal effects, is analyzed through the lens of the ISO 31000 risk management standard by the leader of the group of ISO experts who developed it. The cloud of ash from the Icelandic volcano which has wreaked havoc on passengers and airports […]

Risk Governance Deficits

Policy Brief: Analysis, illustration and recommendations Source: International Risk Governance Council (IRGC) ‘The International Risk Governance Council (IRGC) defines risk governance as the identification, assessment, management and communication of risks in a broad context. It includes the totality of actors, rules, conventions, processes and mechanisms concerned with how relevant risk information is collected, analysed and communicated, and how and by […]

Insights on IT risk: Top privacy issues for 2010

Source: Ernst & Young, partner of PRIMO Europe Information serves as an integral part of most business processes. Organizations cannot survive without information and the supporting systems, third parties and manual activities that collect, derive, process, store and make available the information. Organizations rely on information and, therefore, are at risk when the information is degraded. In addition, information often […]

Cyprus Runs Risk on Desertification

Twenty years ago The Club of Rome brought forward the prognose that with the present techniques (1990) there would be enough drinkable clean water on Earth for 3 billion people. Now we are with much more people on our planet. Of course techniques are better, but with the combination with climate change makes it all more and more a puzzle. […]