risk identification

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 […]

Narim conference stresses importance of work floor to risk management

“In recent years risk managers have focused on getting their voice heard in the boardroom, but according to Dutch risk managers, the work floor presents the biggest challenge to embedding risk management throughout an organisation. A pool of audience members at last week’s Netherlands Association of Risk and Insurance Managers (Narim) congress in Utrecht revealed that 64% consider the work […]

Climate and insurance

John Scott, CRO Zurich “When you read what’s written about climate change in the insurance industry, it generally falls into a couple of categories,” Scott says. “It is either broad and high-level, with papers written about the potential future impacts of climate change, or it is focused on adaptation, typically taking an underwriting view around minimising the impact of flooding […]

Political Risk Atlas 2014

By Maplecroft Quote from their presentation: “A significant increase in conflict, terrorism and regime instability in MENA (Middle East and North Africa), along with intensifying political violence and resource nationalism in East Africa, are among the key factors driving a global rise in political risks for investors, according to the sixth annual Political Risk Atlas (PRA) by global risk analytics company Maplecroft. In addition, […]

The role of emotions in judging the moral acceptability of risks

by Prof.dr. Sabine Roeser This paper argues that we need emotions in order to make a rational decision as to the moral acceptability of technological risks. Empirical research has shown that people rely on emotions in making judgments concerning risks. However, this does not as yet answer the following normative question and the main question of this paper: do we need emotions in order to […]

Reducing Risk of Future Disasters

Source: Foresight Today, there are more people at risk from natural hazards than ever before, with those in developing countries particularly at risk. Whilst achieving the correct response to such disasters is critical, so too is forecasting events and planning to minimise their impact. The field of Disaster Risk Reduction (DRR) plays a critical role in this process, and this report […]

Big economies of the future most at risk from climate change

Source: Maplecroft A new global ranking, calculating the vulnerability of 170 countries to the impacts of climate change over the next 30 years, identifies some of the world’s largest and fastest-growing economies, including India, as facing the greatest risks to their populations, ecosystems and business environments.

Risk management at the top level in Europe

Source: FERMA Risk management is now on the agenda for top management, the board and shareholders, which clearly support and sponsor the function. This finding comes from what is probably the most representative ever survey of opinion on risk and insurance management in Europe, the 2010 risk management benchmarking survey of the Federation of European Risk Management Associations (FERMA). The […]

PPP is a mindset: not a way of building

Author: Harry Sterk, Director of the Dutch Network* for Public Private Partnerships Source: RISK Management & Governance, Edition 6, Summer 2010 The major differences between traditional and PPP projects are, according to Harry sterk, the way costs are defined and how building plans are made. With a PPP project the total costs of a project are placed in light of […]

Result Global CEO Survey: Smarter Growth

13th Annual Global CEO Survey: Setting a smarter course for growth Source: PricewaterhouseCoopers In the 13th Annual Global CEO Survey we hear how businesses leaders responded to the challenges brought about by the recession, the concerns they are facing today and, reflecting on often difficult ‘lessons learned’, their strategies for positioning their companies for the long-term. The effects of the […]

Rethinking Risk Management in Financial Services

Practices from other domains Source: World Economic Forum, prepared in collaboration with The Boston Consulting Group. Letter from the Steering Committee: “The financial crisis has, to put it mildly, seriously challenged our traditional approach to risk management. Consequently, a number of individuals and institutions have advanced ideas for improving not only the analytical framework, but also the status and relevance […]

Risk analysis on society as a whole: Calling time on progress

Europeans thought they were progressing towards an ideal civilisation. Now time is up, and it hurts Source: the Economist “VIEWED from afar, Europeans are a complacent, ungrateful lot. Nannied from cradle to grave by the world’s most generous welfare systems, they squeal like spoiled children when asked to give up just a few of their playthings. As governments in the […]

Munich Re Climate Summit at Shanghai EXPO highlights risks and opportunities in climate change

Source: Munich Re, Press release “In China, an estimated 200 million people are impacted by natural catastrophes every year. The rising number of severe weather-related natural catastrophes, also due to climate change, is increasing losses and impacting economic development. Innovative insurance solutions can help those affected to mitigate the impact of climate change and to adapt to the changing environment. […]

Public Private Partnerships in a time of economic crisis

A waste of time or a calculated risk? Source: RISK Management & Governance, Edition 6, Summer 2010 On Thursday June 10 2010 PRIMO Europe organized its own round table. The meeting was very well attended. Over 50 people from not just the public but also the private sector attended the meeting. The private sector was well and widely represented by […]

Water Security Risk Index 2010

New Maplecroft index rates Pakistan and Egypt among nations facing “extreme” water security risks Source: Maplecroft “A new report evaluating the water security of 165 countries has rated the supply of clean, fresh water to the societies and businesses of 10 nations at “extreme risk.” Read more >

EU policy guru: ‘Austerity plans risk stifling growth’

What risks are actual embedded in the approach of our public debt. It is clear that we should listen to one another, because one strategy seems not to fit all. Our public leaders Sarkozy, Obama and Merkel circle around the facts and the different strategies. This article shares a light on the different angles and aspects of the different approaches. […]

Risk assessment: Keep it simple

Source: INSEAD Knowledge “The ability to assess risk and uncertainty is critical for investment banks and businesses. While some may advocate the use of complex models, INSEAD Dean of Faculty and Professor of Decision Sciences, Anil Gaba, believes that if you’re looking to forecast risk, you’d do well to keep it simple. He’s on a search for convenient rules of […]

Eurozone in crisis

Source: BBC One of the main causes of the currency crisis in the eurozone is that virtually all countries involved have breached their own self-imposed rules. Under the convergence criteria adopted as part of economic and monetary union, government debt must not exceed 60% of GDP at the end of the fiscal year. Likewise, the annual government deficit must not […]

Boosting Your Risk I.Q.

Directorship and Deloitte take a look at the importance of identifying risk in all its forms Source: Bloomberg Businessweek “A critical issue on the agenda for most directors these days is determining the board’s role in overseeing risk. That was the topic of a recent peer-to-peer discussion hosted by Directorship and Deloitte. A group of leading board directors and industry […]

The top 10 business risks for 2009

“What challenges are likely to affect your company in 2009 and beyond? The credit crunch aftershocks and the deepening global recession, rank as the most important business risks for 2009, displacing regulation and compliance from the top spot. Green initiatives, competition from new entrants, human capital issues, and reputational risk all rose in the new Ernst & Young report. It […]

Global economic crime survey 2007

PricewaterhouseCoopers launched its report “Economic crime: People, culture and controls” on the basis of eight years of data on trends, perceptions and incidents of fraud: “Despite heightened efforts at regulation and companies’ investments in controls, fraud remains a major threat to companies around the world. From simple theft to more complex schemes involving management and corruption, the threat continues regardless […]

Managing and Reducing Social Vulnerabilities

This white paper of the International Risk Governance Council (IRGC) focusses on five critical infrastructures related to social vulnerabilities. “This White Paper on ‘Managing and Reducing Social Vulnerabilities: from Coupled critical Infrastructures’ is the second in which we publish recommendations for the risk governance of a particular problem field. We have chosen to focus on five infrastructures: electric power supply, […]

Risk in Emerging Markets

By Anders Søborg, Ernst & Young Advisory Services Denmark How are companies from developed markets managing risk as they invest and operate in emerging markets? Ernst & Young surveyed over 900 companies to build a picture of best or leading practice. The survey deals with key principles for managing risk in emerging markets. Although it is not a framework to […]

360˚Risk Project: Catastrophe Trends

Lloyd’s, United Kingdom, 2006 Today’s risk environment is changing and evolving – more rapidly than ever before. At Lloyd’s, understanding and anticipating major risk trends is what we do. We have created the Lloyd’s 360 Risk Project with one aim: to generate discussion on how best to manage risk in today’s business environment. By tapping into the concentrated expertise and […]