Airmic halts 2020 conference plans

Airmic halts 2020 conference plans

Airmic halts 2020 conference plans

Airmic’s conference is almost certainly off after the association announced it has stopped planning for the event, in light of Covid-19. It is the latest event in the risk and insurance management calendar to be hit by the virus, with many other associations across Europe and the world cancelling their annual conferences. The news came on the day that this…

IRM urges firms to prepare for next pandemic

IRM urges firms to prepare for next pandemic

IRM urges firms to prepare for next pandemic

Covid-19 will be a ‘landmark’ case in how society deals with mega risks, but it is unlikely to be a one-off, the Institute of Risk Management (IRM) and Institute of Operational Risk (IOR) told CRE. “This is the latest iteration of a known virus that could recur or mutate in the future. It may not just be a one-off risk…

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

The World Bank has advised national governments not to react to the rise of coronavirus (Covid-19) and its devastating impact on the global economy too hastily by raising protectionist barriers and particularly by restricting the export of badly needed food and medical products. Now is the time for the nations of the world to pull together to combat the virus…

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Risk managers should stress test their insurance programmes to see how coverage may be triggered for losses caused by coronavirus (Covid-19), according to Franck Baron, group deputy director, risk management and insurance at International SOS, and chairman of the Pan-Asia Risk & Insurance Management Association (Parima). Key lines that may be triggered by the impact of the virus include business…

Airmic survey reveals growing risk manager gender diversity and skills needed for future success

Airmic survey reveals growing risk manager gender diversity and skills needed for future success

Airmic survey reveals growing risk manager gender diversity and skills needed for future success

A new survey by Airmic has revealed growing gender diversity in risk management and found that risk professionals who combine digital literacy with a creative mindset and strong influencing skills will be best placed to succeed in the future. The survey of more than 200 Airmic members, conducted in conjunction with Willis Towers Watson (WTW), found increasing numbers of women…

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Ten Chinese companies, with combined revenues of almost $1.5trn, will be exposed to an estimated $122bn of connected loss exposures from the coronavirus, according to risk modelling firm Russell Group. The numbers provide further evidence of the potentially catastrophic impact the virus could have on the global economy, as both imports into China and exports out of the country are…

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

Coronavirus provides ‘critical test’ of southeast Asia’s ability to reduce dependency on China

The coronavirus outbreak provides a critical test of the southeast Asia region’s ability to diversify global supply chains and reduce its dependency on China, according to Sofia Nazayla, analyst at Maplecroft, a UK-based global risk and strategic consulting firm. This ‘black swan’ event has already had a global economic impact that will inevitably intensify. But leading southeast Asian economies such…

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

Coronavirus: Companies need to activate business continuity plans sooner rather than later, says Parima

The Pan-Asia Risk & Insurance Management Association (Parima) has created a webpage for its members to keep them abreast of the latest developments with the novel coronavirus and provide support and advice at this difficult time for all companies in the region. Parima chairman Franck Baron is also Singapore-based group deputy director, risk management and insurance at International SOS, the…

Mid-market French firms struggling to keep pace with rising risk

Mid-market French firms struggling to keep pace with rising risk

Mid-market French firms struggling to keep pace with rising risk

Mid-sized French companies increasingly see the value in risk management as threats grow but often lack the ability to respond, according to a survey by insurer QBE. The risk management survey, now in its third year, polled 300 executives at French small and mid-sized companies with 50 to 5,000 employees. It found that risks faced by French mid-market companies were…

Bouquot calls on firms to adopt combat risk management

Bouquot calls on firms to adopt combat risk management

Bouquot calls on firms to adopt combat risk management

The head of France’s risk management association Brigitte Bouquot urged companies to approach risk management as if they were in a battlefield, to combat a business environment that is more unstable than ever, as she announced she will step down this year. “Facing increasingly powerful risks, you will have to deploy combat risk management,” said Ms Bouquot, president of AMRAE,…