A European Commission report on the efficiency of the Environmental Liability Directives (ELD) is due next month and could recommend the adoption of an E.U. wide mandatory financial security scheme. But, insurers and operators alike have urged the commission to refrain from making this move.
Exporters in the U.K. are suffering from an “unfair playing field” when competing with European and global competitors as its government refuses to underwrite the issue of bonds needed to win overseas contracts, says Susan Ross, chair of the British Exporters Association (BExA).
Risk management education experts urge the professionals to spread the word up the corporate ladder while interest is high.
The Environmental Liability Directive (ELD) finally reached implementation in all 27 E.U. member states at the end of 2009, two years after its deadline, and questions have swiftly emerged about the preparedness of industry and the insurance market for this complex new regime.
Kevin Knight, Chair of the ISO working group that recently published a global risk management standard, says that he and his working group are totally opposed to the idea of a certifiable standard.
The recent product recall by car manufacturer Toyota because of problems related to floor mats, accelerator pedals and faulty breaking systems could cost the company a reported $2bn.
The majority of public U.S. companies will have to comply with new disclosure requirements on risk management as of February 28 because of new rules from the U.S. Securities and Exchange Commission (SEC).
Norwegian risk managers seek to work with Swedish and Danish neighbours following acceptance by FERMA.
IGREA, the recently formed association for risk and insurance managers with the biggest companies in Spain, already has 17 members and is on track to meet its target of about 25 members, according to acting President Daniel San Millan, Corporate Risk Manager at Madrid-based construction company Ferrovial Group.
The new international risk management standard, ISO 31000:2009 Risk management—Principles and guidelines, that provides principles and generic guidelines on risk management, has already sparked greater interest in risk management in both board and classrooms according to experts.