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Crisis shakes up strategic risk assumptions
Executives were revisiting the validity of strategic assumptions at the end of last year – a process that has accelerated because of the global pandemic, according to Gartner’s recent Emerging risks monitor report. “Executives had been concerned with the validity of their strategic assumptions well before the current crisis situation,” said Matt Shinkman, vice president…
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Crisis management holding up well during the pandemic, IRM survey finds
Crisis management is holding up well during the pandemic for 82 per cent of organisations, according to a survey by IRM. One in four said they were ‘very satisfied’ that their plans had worked well, with just over half (57 per cent) saying that problems had not prevented them working more or less to expectations.…
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Mental wellbeing priority during lockdown
During the coronavirus lockdown, mental health risk has been growing among employees, prompting the NHS to issue fresh advice. But are businesses and managers able to provide support to their staff given the stringent social distancing policies now in place? The workplace body CIPD had already found that 60% of workplaces reported a rise in…
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Covid snapshot – a major global bank provides a sitrep from the ground | APAC
We asked a senior IRM member and global financial services expert for a quick update, here’s what they said: So far I am quite confident that our company is effectively responding to the outbreak. The first thing we have learned is resilience capacity, in particular from the technical side. The company has gradually invested mobile/remote working access…
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Coronavirus puts contractual risk on the agenda
Given the extreme lockdown measures taken by the UK government, organisations are beginning to ask whether businesses, suppliers, customers and commercial partners can continue to perform their contractual obligations. And if they cannot, what risks does this pose? Two of the main legal terms that have come under the spotlight are force majeure and whether a…
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Preparing for Covid-19 pandemic
The current Covid-19 pandemic is having devastating affects world-wide to health and the economy with numbers of confirmed cases escalating on a daily basis and governments intervening with closures of non-essential services and restrictions on travel and movement. This outbreak is already significantly worse than the H1N1 outbreak in 2009, according to Ghislain Giroux Dufort,…
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Social distancing – the communications and compliance challenge
The world is currently joined in a wave of lockdown measures to limit the general public’s freedom of movement: the most severe method to mitigate the spread of COVID-19. One of the core WHO messages during the COVID-19 global public health emergency has been a concept new to the general public: social distancing. This means…
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Risk of recession looms
Many countries could be plunged into recession if the coronavirus extends into the summer. The European Commission (EC) recently revised its 2020 forecasts downwards, for example. “Assuming an extension of the health crisis up to the beginning of June or beyond, the fall in economic activity in 2020 could be comparable to the contraction of…
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Coronavirus – IRM CEO Statement
Last updated: 18 March 2020 The current coronavirus epidemic (COVID-19) presents a challenge for the whole world, and for the risk management profession. We will see how our education, training and professional development has equipped us, and our organisations, to tackle this major risk. Public health measures are generally focusing on slowing down the spread…
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Data breach fines grow
Data breach fines have grown since the General Data Protection Regulation (GDPR) came into force, according to the law firm DLA Piper. There have been over 160,000 data breach notifications across Europe May 2018, according to the DLA Piper GDPR data breach survey: January 2020. “Many organisations and indeed many supervisory authorities are struggling with…
