Risk managers should show their value as lockdowns ease

Risk managers should show their value as lockdowns ease

Risk managers should show their value as lockdowns ease

Risk managers have been struggling to find their rightful place in many organisations but Covid-19 could prove a game-changer, according to South African risk manager Lindiwe Magobholi. “For many years enterprise risk management has struggled within some organisations, still battling to keep its seat at the roundtable, because although it is not a profit centre function it sometimes behaves as…

Climate change remains top priority for Asian CEOs despite pandemic

Climate change remains top priority for Asian CEOs despite pandemic

Climate change remains top priority for Asian CEOs despite pandemic

The Covid-19 pandemic has clearly dominated the attention of CEOs of all companies across Asia in recent times, but evidence gathered by insurer FM Global has found that climate change risk remains top of mind too. The survey found that 57% of Asia Pacific CEOs and CFOs reported that addressing climate risk is a high priority in their company. The…

Interest in captives and loss prevention jumps among European risk managers as market hardens

Interest in captives and loss prevention jumps among European risk managers as market hardens

Interest in captives and loss prevention jumps among European risk managers as market hardens

European risk managers are turning to captives and loss prevention as the insurance market hardens, finds Ferma’s 2020 survey. The federation’s 2020 Risk Management Survey reveals that 90% of insurance risk managers polled are concerned about limitations and exclusions of specific emerging risks as the insurance market hardens, and 88% are concerned about tougher conditions generally. Meanwhile, 68% are worried…

Climate risk guide fires starting gun for regulatory oversight of UK financial firms

Climate risk guide fires starting gun for regulatory oversight of UK financial firms

Climate risk guide fires starting gun for regulatory oversight of UK financial firms

Financial firms in the UK have been issued new risk management guidance on climate risks as regulatory pressure on the sector prepares to move up a gear. The guidance could well be used to set targets for firms next year as the Bank of England (BoE) raises its expectations on understanding and mitigating climate change risk. The guide is the…

Australian risk managers advised to check credit policies

Australian risk managers advised to check credit policies

Australian risk managers advised to check credit policies

Risk and insurance managers with business in Australia need to take a proactive approach with their trade credit risk as the local market rapidly contracts in the face of Covid-19-related losses. As the standard cover dries up, particularly for the badly hit retail sector, risk managers also need to look out for exclusions being introduced for natural disasters and government…

Cyber and economic uncertainty top Ferma survey risk list

Cyber and economic uncertainty top Ferma survey risk list

Cyber and economic uncertainty top Ferma survey risk list

European risk managers ranked cyber and uncertain economic growth as the biggest short-term threats facing their organisation in the 2020 Ferma survey, while digital transformation and climate change are the top medium- and long-term concerns. It also finds that insurance risk managers are turning to captives and loss prevention as the insurance market hardens. The poll of 764 risk managers…

Parima ramps up risk management webinars and training in July

Parima ramps up risk management webinars and training in July

Parima ramps up risk management webinars and training in July

The current global pandemic has meant that physical risk and insurance management conferences and training sessions have been postponed by all industry associations across the Asia-Pacific region and worldwide. Parima has, however, reacted swiftly by filling the educational and networking gap with a lively programme of webinars. The association held five webinars in April, six in May and a further…

Atradius warns of rise in supply chain fraud during pandemic

Atradius warns of rise in supply chain fraud during pandemic

Atradius warns of rise in supply chain fraud during pandemic

Trade credit insurer Atradius has detected a rise in fraudsters posing as companies during the Covid-19 pandemic. It said opportunistic fraudsters have exploited disruption to normal trade during lockdowns. Fraudsters are presenting themselves as credit-worthy businesses and looking for new suppliers from legitimate businesses, explained the insurer. Atradius said suppliers caught out in the scams hand over the goods but…

GVNW calls on ministry to progress state-backed pandemic pool discussion

GVNW calls on ministry to progress state-backed pandemic pool discussion

GVNW calls on ministry to progress state-backed pandemic pool discussion

The German risk and insurance management association (GVNW) has pushed the Federal Ministry of Finance to move forwards with discussions with the GVNW and representatives of the German insurance industry, to develop a state-backed insurance scheme to provide business insurance cover for pandemic risks. The GVNW, led by president Alexander Mahnke, has written again to the ministry, urging it to…