Businesses struggling to meet growing supply chain exposures: Airmic report

Businesses struggling to meet growing supply chain exposures: Airmic report

Businesses struggling to meet growing supply chain exposures: Airmic report

A new report by Airmic warns that supply chains are under growing strain, with businesses struggling to manage the new exposures. Published at Airmic’s fourth ERM Forum in London this week, it provides risk managers with practical guidance on how to inject resilience into entire supply networks. The Complex Supply Chains in a Complex World report says that “a potent” combination…

MAXIS delivers wellness calculator to measure firms’ cost savings

MAXIS delivers wellness calculator to measure firms’ cost savings

MAXIS delivers wellness calculator to measure firms’ cost savings

MAXIS Global Benefits Network has launched a wellness calculator so companies can measure potential medical cost savings and the productivity of staff by adopting changes in employee lifestyles and behaviours. The employee benefits network said the new digital service, Wellness Intelligence Tool, can be customised using a company’s own medical claims data, employee turnover figures and medical cost trends. The…

African growth hampered by global slowdown

African growth hampered by global slowdown

African growth hampered by global slowdown

Growth in sub-Saharan Africa has remained slow through 2019, hampered by persistent uncertainty in the global economy and the slow pace of domestic reforms, according to the World Bank. In its 20th edition of Africa’s Pulse, it says overall growth in sub-Saharan Africa is projected to rise to 2.6% in 2019 from 2.5% in 2018, which is 0.2 percentage points lower…

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

Australian Reserve Bank warns that climate change could threaten viability of insurance sector

The Reserve Bank of Australia (RBA) has warned that if investors and financial institutions do not take the impact of climate change more seriously, there is a good chance that critical business and personal risks will become increasingly uninsurable. The bank also warns in its latest Financial Stability Review that if insurers fail to price the related risks accurately enough,…

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

MAS maintains focus on fight against cyber risk and urges greater collaboration worldwide

The Monetary Authority of Singapore (MAS) is continuing its investment in the fight against cyber risk and crime, to ensure that it is viewed as one of the safest financial centres worldwide and a leader in cyber risk management. Vincent Loy, assistant managing director (technology) at the MAS, recently gave a speech entitled, ‘Building cyber resilience across the financial sector’,…

Nigerian risk association to hold risk awareness week

Nigerian risk association to hold risk awareness week

Nigerian risk association to hold risk awareness week

The Nigerian Association of Enterprise Risk Management Professionals (AERMP) is to hold its second annual Enterprise Risk Management & Compliance Week. The event will run on 25-30 November and will include a conference, workshop and seminars. It will also include the induction of newly qualified members, a special event for the newly formed Women in Risk & Compliance group, and…

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terror attacks and environmental catastrophes top Asian executives’ agenda

Water crises, terrorist attacks and man-made environmental catastrophes were the top three risks identified by executives across south Asia who took part in the World Economic Forum’s (WEF)  recently published Regional Risks for Doing Business 2019 report. The report, published in partnership with Marsh and Zurich, shows a big difference between the top risks identified by south Asian executives and…

Agers chooses new advisory council

Agers chooses new advisory council

Agers chooses new advisory council

Agers, one of Spain’s risk management associations, has announced the make up of its new advisory council, consisting of indviduals from the broking, underwriting and advisory sectors. The advisory council has been created to help Agers with strategic planning. Agers’ main board is now composed exclusively of risk managers. The members of the advisory council are: Alfredo Arán Igleas (Mapfre),…

Court approves GDPR class action lawsuit against British Airways

Court approves GDPR class action lawsuit against British Airways

Court approves GDPR class action lawsuit against British Airways

A UK court has approved a GDPR class action for British Airways (BA) customers affected by the airline’s 2018 data breach. Approving a group litigation order, the High Court has opened the doors to one of the first such actions against a company under Article 82 of the GDPR since it took effect across the EU in May 2018. Article…

Ratings downgrades loom over no-deal Brexit: S&P

Ratings downgrades loom over no-deal Brexit: S&P

Ratings downgrades loom over no-deal Brexit: S&P

A no-deal Brexit could lead to ratings downgrades, warns Standard and Poor’s (S&P) as the UK enters the final few crucial weeks to secure an exit deal with the European Union before 31 October. It added that ratings could also be subject to negative outlooks or CreditWatch actions in the expectation of economic slowdown or disruption. S&P said rating actions…