The latest enterprise risk management news from around the world
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European risk managers are taking a more strategic role in their companies with increasing access to top management levels and the board. Against this background, they have a wider vision of the risks that could affect the ability of business to achieve its objectives.
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The risks posed by cyber attacks and reputational damage are increasingly worrying small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s third annual global SME survey.
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The Brexit vote has raised a question mark over the UK’s future ability to do business and, as a result many businesses, as part of responsible contingency planning, are considering relocating operations or headquarters, according to KPMG’s first ‘100 UK CEOs’ survey.
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BSI has published PAS 3001:2016 ‘Travelling for work – Responsibilities of an organization for health, safety and security – Code of Practice’. Developed in association with International SOS this new code of practice advises organizations on how to address and manage the health, safety and security risks posed to their employees who are travelling for work.
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RIMS, the risk management society, has announced the acquisition of the Risk Manager of the Year Award, an award program that was formerly administered by Crain Communications Inc.’s Business Insurance magazine.
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Alexei Sidorenko provides an overview of four key criteria that are essential for effective risk management. The criteria are: integrating risk into decision making; strong risk management culture; disclosing risk information; and continuously improving risk management.
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The Federation of European Risk Management Associations (FERMA) has launched a campaign to change misperceptions of captive insurance by tax authorities and other public bodies.
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By Geary Sikich.
Many aspects of risk management are deeply rooted in mathematical formulae for determining probability. This heavy dependence on mathematics to determine probability of risk realization may create ‘false positives’ regarding a risk that can be either positive or negative.
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The Centre for Risk Research (CRR) has published a guidance document to support company directors and others who oversee the development of risk management in organizations.
