Covid-19 has shown the importance of running effective, efficient and flexible business operations and risk management practices. Whilst the pandemic is sadly not over and increasingly rife in countries such as Brazil and India, valuable lessons have and are being learned.  Building good risk management into everything you do should be paramount. Don’t see…

By Sonjai Kumar ERM development is a relatively recent phenomenon that started developing around the year 2000. The COSO (Committee of Sponsoring Organization of the Treadway Commission) came up with ERM standards in 2004, while the ERM framework by ISO 31000 was first published in 2009. There is always a time lag between the standards…

Isaac Alfon, co-chair of IRM’s ERM in Insurance SIG and MD of Crescendo Advisers, suggests how lessons learned  from Covid-19 can enhance resilience in the insurance industry, Click here to read more.

IRM has drawn on its global network of Special/ Regional Groups and Global Ambassadors to ask them for their views on the ground on how the pandemic is affecting their sector/countries. We have pulled this together is a document entitled: IRM Global Covid-19 Risk Management Response which we hope will be of interest to you. You may…

With global conflict, political and economic uncertainty, bushfires, storms and flooding in the headlines, IRM has surveyed some of its senior members across a range of sectors and geographies for their risk predictions for 2020. (Please note the view expressed below reflect the individuals rather than their company views.) Here is a selection of those…

By Lee Coppack Consumer spending comprises more than 50 per cent of gross domestic product in many developed countries. It is more than 65 per cent in the United Kingdom and United States. Good risk analysis by consumer goods companies is clearly critical to these economies. New work by the Centre for Risk Studies in…

One of the greatest risks of failing to address cyber threat is that people will turn away from the very technologies that could produce rapid productivity gains over the next few years, according to a new book Solving cyber risk: protecting your company and society. As the extent and frequency of cyber attacks grows, people…

As the Internet of Things (IoT) becomes increasingly ubiquitous, organisations from all industries are beginning to explore ways to develop and utilise their own IoT network or service offering. In his new book, Internet of Things, for Things, and by Things, author Abhik Chaudhuri explains how this can be done effectively and safely, while mitigating…

Non-compliance with trade sanctions increasingly attracts severe penalties for organisations, according to a recent IRM and Lexis Nexis webinar. While the effectiveness of sanctions themselves has been debated in some quarters, the size, nature and penalties of non-compliance make sanction risk a real and growing area of interest for risk managers. Mark Dunn, segment leader…

More and more firms are now putting low probability catastrophic risks higher on their agenda. According to the authors of a recently published book, the reason for this is simple: these events are happening more often. Howard Kunreuther and Michael Unseem, who together wrote Mastering catastrophic risk: how companies are coping with disruption, argue that…