Risk managers hail Airmic’s first event in Ireland

More than 170 risk and insurance professionals were present for the first event to be held on the island of Ireland by the UK’s risk management association Airmic. The Island of Ireland Forum was chaired by Airmic CEO Julia Graham and featured sessions on greenwashing, captives and the future of the risk management profession. Speaking to Commercial Risk Europe, Graham said the intention is to build a “sustainable” relationship between Airmic and Irish risk managers. A second annual forum is already booked for October 2023, while another event is planned for Belfast along with a dedicated session at the Airmic Annual Forum in Manchester. Airmic is also looking to develop relationships with third-level education in Ireland via agreements with Ulster University and the University of Limerick. “We have a big student community in the UK and we want to foster the same relationship in Ireland.” One of the prime movers in the campaign to bring Airmic to the island of Ireland is George Ong, chief risk officer for Northern Ireland Water. Up to now, there has not been a risk management association in Ireland akin to those in the rest of Europe that are affiliated with Ferma. Instead, risk managers in Northern Ireland and the Republic of Ireland have subscribed to Airmic membership. However, in the current post-Brexit climate, Ong believes the threats and opportunities unique to the island of Ireland are so critical that risk managers should have a voice of their own. “There is not enough emphasis on the uniqueness of the island of Ireland compared to the UK,” he told Commercial Risk Europe. For example, since Brexit was enacted there has been the loss of the insurance industry’s passporting rights between Ireland and Northern Ireland meaning that risk and insurance professionals cannot work for companies on both sides of the border, unlike other industries such as accountancy where there is an exemption. One of the problems is that risk managers do not have a lobbying body equivalent to the Consultative Committee of Accountancy Bodies Ireland, said Ong. “A stronger lobbying voice would highlight the problem and not just accept the situation,” said Ong. He referred to the green cards scheme that was introduced on the island of Ireland for any UK drivers wanting to cross the border from Northern Ireland (UK) into the Republic of Ireland (EU). “The administrative problems were highlighted and the scheme was eventually scrapped,” said Ong. There are other risk issues that are more complex in the island of Ireland, according to Ong. For example, there are supply chain and severe weather risks given its geographical location and an energy crisis that could well result in blackouts this winter. While Ong hailed the event as a great achievement, he also added that it was just the beginning of the conversation. “What we have achieved today is a huge step forward,” said Ong. “But it is nothing compared to what we can and will achieve by identifying, addressing and managing those risks unique to the island of Ireland.” “There are lots of international companies operating in the island and risk managers have a unique opportunity to highlight both the risks and opportunities by working together and grow our risk and resilience solutions into the UK and EU,” he said.

Risk managers hail Airmic’s first event in Ireland

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