Ferma urges new EC group to address AI ethics in underwriting and corporate world

Ferma urges new EC group to address AI ethics in underwriting and corporate world

Ferma urges new EC group to address AI ethics in underwriting and corporate world

Ferma has called on the EC’s new expert group looking into the role of artificial intelligence (AI) to consider the future insurability of commercial organisations if underwriting is left to AI technology and, more broadly, to define ethics surrounding its use in the corporate world. Late last week, the EC appointed 52 experts to its new High Level Group on…

Risk management event scheduled for Namibia

Risk management event scheduled for Namibia

Risk management event scheduled for Namibia

The Namibia chapters of the Institute of Internal Auditors South Africa (IIA SA), the Institute of Risk Management South Africa (IRMSA) and the Information Systems Audit and Control Association (ISACA) will be collaborating in a joint conference on 18 June 2018, in Windhoek. With the conference theme, ‘Is it the end of the world as we know it?’, speakers include Monia…

Airmic says members must up game to improve their transfer options

Airmic says members must up game to improve their transfer options

Airmic says members must up game to improve their transfer options

Airmic has urged its members to up their game and better help insurers develop the solutions needed for increasing intangible assets. Speaking at the association’s annual conference this week, Airmic CEO John Ludlow urged everyone across the risk transfer chain to collaborate and finally makes some progress on new solutions to the changing risk landscape. “We’ve been talking for years…

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards ‘sleepwalking’ towards digital risks, finds Airmic

Boards are “sleepwalking” towards risks thrown up by the fourth industrial revolution and must urgently change their approach to mitigate threats and take advantage of potential opportunities, according to Airmic. The association suggests organisations are failing to utilise chief risk officers to help cope with such change, because the role is not taking hold in UK companies. A new report…

Cyber preparedness falls short: Airmic survey

Cyber preparedness falls short: Airmic survey

Cyber preparedness falls short: Airmic survey

Cyber risk is now a top concern for Airmic members but many believe the ability of their organisations to respond is falling short. According to Airmic’s latest member survey, cyber business interruption and data breach are the second and third most concerning risks for risk managers, just behind reputation. However, risk managers expect cyber to move to the top spot…

Time for buyers to test parametric covers, says Airmic

Time for buyers to test parametric covers, says Airmic

Time for buyers to test parametric covers, says Airmic

Risk managers could make better use of parametric insurance solutions to address limitations in traditional insurance, according to a paper from Airmic. Experts say risk managers could introduce parametric triggers into existing polices if they do not wish to purchase full-blown parametric cover. Parametric solutions – where insurance payouts are typically linked to an index like rainfall volume or earthquake…

More work needed on gender pay gap and diversity in risk profession

More work needed on gender pay gap and diversity in risk profession

More work needed on gender pay gap and diversity in risk profession

Gender pay gap reporting in the UK has highlighted the potential for pay disparity among risk managers and the need for more work on diversity within the profession. From April, UK organisations with 250 or more employees were required to report on their gender pay gaps – the difference in pay between male and female employees. While a rudimentary measure,…

Airmic moves to help members cope with huge pace of change

Airmic moves to help members cope with huge pace of change

Airmic moves to help members cope with huge pace of change

Risk management and corporate governance are struggling to keep pace with the huge speed at which business models are evolving, according to Airmic’s chief executive. Speaking to CRE ahead of this year’s Airmic conference, the association’s CEO, John Ludlow, said technological transformation is now well and truly under way as he described the theme of this year’s event in Liverpool,…

Lucas to tap Airmic’s broad membership

Lucas to tap Airmic’s broad membership

Lucas to tap Airmic’s broad membership

Airmic’s incoming chair Lynda Lucas wants to encourage greater engagement and participation from across the association’s diverse membership, including non-risk functions such as legal, finance and company secretaries, in its activities. Airmic attracts a wide range of individuals, with members working in many different roles and sectors, as well as within public, private and not-for-profit organisations. At the same time,…

Airmic meets growing demand for risk skills, explains outgoing chair

Airmic meets growing demand for risk skills, explains outgoing chair

Airmic meets growing demand for risk skills, explains outgoing chair

Paul goulding’s term as Airmic chair has spanned Brexit, the Grenfell Tower fire and failure of UK construction firm Carillion, not to mention a global malware attack and near record natural catastrophes. Yet it is the changing business environment – with advancements in technology, globalisation and emergence of new business models – that he sees as the biggest risk management…

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