Growing concern over operational risk in South Africa

Growing concern over operational risk in South Africa

Growing concern over operational risk in South Africa

Increased uncertainty and the alarming potential for systems failure during the pandemic are leading to a renewed focus on operational risk in organisations, and the debate is being driven largely by the insurance industry. Spiros Fatouros, Marsh Africa CEO, said: “In the past 12 months we have noticed increased conversations on the topic, as losses are reported resulting from insufficient…

IAIS calls for patience on global regs as risk associations urged to step in

IAIS calls for patience on global regs as risk associations urged to step in

IAIS calls for patience on global regs as risk associations urged to step in

Manuela Zweimueller, head of supervisory practices at the International Association of Insurance Supervisors (IAIS), has told multinational insurance buyers not to expect the supervisory body to magically fix problems with global programme regulations anytime soon, but said it is starting to raise awareness of various issues with regulators. This prompted other experts at our latest conference to urge insurance buying…

Time for wholesale change to risk management approach, suggests South African Professor

Time for wholesale change to risk management approach, suggests South African Professor

Time for wholesale change to risk management approach, suggests South African Professor

Almost all risk managers believe the Covid-19 pandemic will increase the focus on operational resilience, but there is also a call to reimagine how risk management operates to enable organisations to thrive in a post-Covid-19 world. According to a survey by the Institute of Risk Management (IRM), conducted earlier this year, 92% of risk managers said the focus on resilience…

President Ramaphosa receives South African Risk Influencer of the Year award

President Ramaphosa receives South African Risk Influencer of the Year award

President Ramaphosa receives South African Risk Influencer of the Year award

South African President Cyril Ramaphosa, as chair of the National Command Council established under the Disaster Management Act, has been honoured by the Institute of Risk Management South Africa (IRMSA) for the impact the risk-adjusted strategy had on responding to the enormous risks posed by the Covid-19 pandemic on the country and its people. Jackson Mthembu, minister in the presidency,…

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

Focusing on the lessons learned from Covid-19, the Institute of Risk Management South Africa (IRMSA) has claimed that its annual Risk Report, due to be launched in February 2021, will be one of its most important yet. Christelle Marais, vice-president of IRMSA and chair of its risk intelligence committee, explained that the 2021 report will focus on lessons learned from…

IRMSA launches new measures as South African risk managers increasingly report facing personal threats

IRMSA launches new measures as South African risk managers increasingly report facing personal threats

IRMSA launches new measures as South African risk managers increasingly report facing personal threats

The Institute of Risk Management South Africa (IRMSA) has launched a series of initiatives after receiving numerous queries from risk professionals on how to handle undue pressure, unfair treatment and, in some instances, personal threats when reporting on risk in their organisations. This follows reports in the past few years in which risk managers admitted they had faced death threats…

South Africa has a week to avoid civil unrest, warns IRMSA

South Africa has a week to avoid civil unrest, warns IRMSA

South Africa has a week to avoid civil unrest, warns IRMSA

Civil unrest and a likely increase in crime are brewing if South Africa does not solve the food security problems already emerging due to coronavirus restrictions, the Institute of Risk Management South Africa (IRMSA) has warned. The IRMSA Covid-19 Risk Thinktank highlighted these risks based on risk data modelling and taking into account the unique disparities of South Africa. “It…

IFRIMA warns of unscrupulous insurers as Covid-19 unfolds

IFRIMA warns of unscrupulous insurers as Covid-19 unfolds

IFRIMA warns of unscrupulous insurers as Covid-19 unfolds

The International Federation of Risk and Insurance Management Associations (IFRIMA) has warned risk managers they will face belligerent claims staff and unscrupulous insurers as the Covid-19 crisis unfolds. The stark warning came from IFRIMA president Gert Cruywagen, writing to risk managers in his native South Africa. “There will be many new risks after Covid-19,” he stressed. “Those of us who…

Mentoring proves key to success for African risk managers

Mentoring proves key to success for African risk managers

Mentoring proves key to success for African risk managers

The Institute of Risk Management (IRM) has asked its members what working in risk is really like and what hints and tips they would share with people looking to move into the industry. Here, we share two of the African responses, in which the importance of mentoring is highlighted… Joseph Oppong Awuku, enterprise risk management and control, NSIA Insurance Ghana…

Nigeria risk award date set for July

Nigeria risk award date set for July

Nigeria risk award date set for July

The fifth edition of the Nigerian Risk Summit and Awards (NRSA 2020) has been set for 9 July 2020. Entries for the 2020 awards have already opened through the NRSA website. The NRSA were conceived by Conrad Clark Nigeria in partnership with the Convention on Business Integrity, the Institute of Risk Management, the Risk and Insurance management Society and the…

1 2 3 10