Latest updates

coronavirus, money

COVID-19 fuelling US-China rivalry

By Helen Yates

An inability to cooperate in the fight against the coronavirus shows how far the bilateral relationship has deteriorated - Verisk Maplecroft

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Climate change “major threat” to global resilience - sigma

By Helen Yates

Failure to take immediate tangible action could lead to climate systems reaching irreversible tipping points, jeopardising insurability

connected home

Asian risk managers adapt to COVID-19

Everybody has a plan until they get punched in the face, says Parima head Franck Baron, quoting Mike Tyson

Manufacturing

COVID-19: Asean manufacturing index plummets

By Helen Yates

March highlighted the worst performance of the ASEAN manufacturing sector on record, according to IHS Markit

HK protests

COVID-19: Spotlight on security risks

Protests and unrests, strikes and fraud and scams are just some of the security risks likely to be exacerbated by the coronavirus pandemic

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“Rethink and transform” supply chain model: PARIMA chairman

The covid-19 crisis should prompt companies to “rethink and transform” global supply chain models, according to Franck Baron

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Marriott reveals new breach: 5.2 million exposed

By Helen Yates

The new compromise follows a major breach of up to 339 million guests, discovered in 2018

Lloyd's of London

Fitch puts Lloyd’s of London on negative watch

By Helen Yates

The rating watch negative reflects “uncertainty and increased risk to Lloyd’s earnings and underwriting performance due to claims emanating as a result of the COVID-19 pandemic”

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Risk 4.0 - Are you prepared?

Risk managers must be prepared for new risks in an unprecedented era of technological and societal change, according to Warren Black, principal and founder, Complexus

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COVID-19: Reducing the manufacturing supply chain impact

By Helen Yates

Manufacturing companies must assess and devise strategies to reduce the impact of COVID-19 - SpendEdge

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Claims from February Australian floods reach A$794m

By Helen Yates

Property losses from the February east coast low make it the third largest such event in the last three decades - PERILS

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Risk managers should challenge subconscious bias: Gahan

Risk managers should view risks from different perspectives and challenge subconscious bias in their roles, according to Karla Gahan, business continuity officer at the University of Newcastle, Australia.

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COVID-19: “Ethics will be tested” - Deloitte

By Helen Yates

Deloitte has warned of a potential spike in bribery and corruption across Asia Pacific in the wake of COVID-19

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StrategicRISK Q1 2020: World on Lockdown

In this edition of StrategicRISK, we look at how businesses are responding to the COVID-19 crisis as the situation rapidly escalates around the world.

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COVID-19: The role of climate change

By Helen Yates

Climate change and growing extremes will likely increase the threat of global pandemics, according to AIR Worldwide

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ACSC warns of COVID-19 cyber scams

By Helen Yates

The Australian Cyber Security Centre has warned cyber criminals are exploiting fears surrounding the COVID-19 outbreak in a new series of phishing scams.

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COVID-19: Australian car firms to produce ventilators

By Helen Yates

Firms including Ford Australia and Holden Special Vehicles, which are adapting their assembly lines to produce ventilators and other medical equipment

Cyber

Using AI to map ‘silent cyber’ exposures

By Helen Yates

Guy Carpenter has partnered with RiskGenius to improve the detection and qualitative analysis of silent cyber exposure across various lines of business.

Supply chain

Pacific nations sign supply chain pact

By Helen Yates

Australia, Brunei, Canada, Chile, Myanmar, New Zealand and Singapore, the seven Pacific rim nations pledge to maintain open and connected supply chains as part of their collective response to combat COVID-19

Pandemic

WTW launches COVID-19 tracking tool

By Helen Yates

Willis Towers Watson has updated its Global Peril Diagnostic modelling tool to provide up-to-date information on confirmed global COVID-19 cases alongside insurers’ property portfolios

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Why pandemics fell off the risk radar

By Helen Yates

The risk of a global pandemic has risen in recent years, but the perception of that risk has not matched reality - WEF

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Fitch: Negative outlook for APAC insurers

By Helen Yates

Fitch Ratings has revised the sector outlook of the non-life insurance industry in APAC to negative from stable due to the impact of COVID-19, but does not anticipate a significant increase in loss ratios

Supply chain large

WEF: COVID-19 prompts new supply chain thinking

China seems to be seeing the light at the end of the tunnel of fighting the COVID-19 outbreak domestically, but there is much more work to be done for companies to resume normal productions and reconfigure their supply chains

coronavirus

36m workdays could be lost in Australia due to COVID-19

Government stimulus package announced this week could help stave off a severe economic downturn as a result of the pandemic currently sweeping the globe say experts.

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Insurance experts rank cybercrime as top risk for 2020

Cybercrime, disruptive technology and pricing are the top three most dangerous risks, according to a new Willis Towers Watson survey of more than 100 insurance industry executives

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‘The sum of the whole is greater than the parts’

Catherine Orobator, insurance officer at University of East London and one of Airmic’s rising stars, shares her thoughts on why the risk industry needs more diversity and inclusion.

Risk

Risk leaders need to up their soft skills

A new report argues that as technology increasingly takes over more routine, manual tasks, risk professionals need to upskill and constantly reinvent themselves, or risk being made redundant by technology.

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Why diversity is needed in risk and insurance

Instead of just celebrating International Women’s Day, StrategicRISK has decided to celebrate the achievements of some of our best and brightest women over the next two weeks. Stay tuned for more stories to follow!

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New kit battling supply chain risk

Supply chain risk is increasing as the coronavirus epidemic continues to spread across the globe. A new tool from riskmethods aims to assist risk managers fight the issue.

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Risk market reacts to Aon WTW merger

As the dust begins to settle on the news of the latest mega-merger, StrategicRISK asked our risk experts what their thoughts are on the deal and what the impact will be on you as risk managers.

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Aon buys WTW in $80bn mega-deal

The combined company, a technology-enabled global professional services firm focused on the areas of risk, retirement and health,  will maintain its headquarters in London.

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Changing perceptions of risk

Val Jonas, CEO of Risk Decisions Group, suggests risk programmes are put through a 20-minute workout

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5 minutes on coronavirus with Dr Hyzler

As the world scrambles, StrategicRISK spoke with Dr Adrian Hyzler to get his top tips for risk managers on how best to tackle this crisis over the coming weeks.

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Latest estimates for COVID-19: AIR Worldwide

The catastrophe modelling firm has issued stark warnings about ’underreporting and uncertainty’ surrounding officially released figures on the numbers of mild to moderately symptomatic cases of COVID-19

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RMIA: How to quell coronavirus panic

Risk Management Institute of Australasia (RMIA) has announced it will host a series of workshops to assist risk managers to address the worsening crisis.

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Stock market shocks increase as COVID-19 continues to spread

Nordic bank head of economic forecasting Håkan Frisén, and investment strategist, Johan Hagbarth, answer your questions on the risks facing business share prices

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11 of 15 cities most at risk of rising sea levels in Asia

Guangzhou and Dongguan, two major cities in China’s Pearl River Delta Economic Zone, have been identified as the metropolitan areas most vulnerable to sea level rise worldwide.

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Employer medical costs rise in the wake of coronavirus

Employers in markets including China, Hong Kong, India, Indonesia, Malaysia and Singapore should brace themselves to exceed the average expected increase of health care benefit costs in 2020, experts warn.

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Challenging bias in risk management

University of Newcastle business continuity officer, assurance services, Karla Gahan, discusses challenging bias in risk management in our inaugral #ChangingRisk Day

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Global insurance prices rise 11% in Q4 2019

Asia regional composite pricing rose the slowest - hitting only 6% in the fourth quarter of 2019, compared to a 21% rise in the Pacific region.

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APAC suffers ongoing COVID-19 market shocks

A new report is warning APAC risk managers a prolonged outbreak will cause significant second-round effects, including severe supply chain disruption

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Have we learned anything from Hayne?

A year on from the Hayne Commission represents a natural time to consider the new regulatory environment facing corporate Australia.

Machinery

Shut down equipment failure before it shuts you down

Equipment risk permeates across all kinds of industries. In Australia, the power generation, mining and chemical industries are most significantly exposed and most at risk, writes Michael Stuckings, Operations Chief Engineer, FM Global

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How WeWork got ‘bringing home the bacon’ all wrong

As WeWork prepares to shed its risky wild child image and take on a new CEO, our editor Lauren Gow reflects on where the issues began with this workplace upstart.

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MS Amlin appoints new APAC chief

Will Ho, who is currently Head of Reinsurance (Asia), will be taking on the role subject to regulatory approval.

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5 cyber security trends for 2020

The focus is now firmly on the customer and offering them better service and better protection, particularly with the new paradigm of “everything-as-a-service” – where everything is offered in cloud-based, consumer-based models.

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BMS hires senior broker in Sydney role

The global broker is continuing its expansion plans in the APAC region with the appointment of Kirsty Kennell-Webb.

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The murky risk brewing in your morning coffee

Forced labour in the coffee industry is a growing risk that no one is taking much notice of but setting minimum price alone will not solve the problem argues SAP Ariba’s Padmini Ranganathan.

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Emerging markets paving the way in digitisation

New markets are partnering with established digital platforms and ecosystems to combine features typically offered by standalone incumbent firms into a one-stop-shop service.

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Coronavirus - what your business needs to do now

As the coronavirus epidemic deepens, Marsh Risk Consulting Strategic Risk Practice consultant, Renata Elias, details what your businesses needs to be doing right now to tackle this ever-growing risk.

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WEF report signals danger for Asia-Pacific

As a region uniquely exposed to environmental risks, Asia-Pacific risk professionals see the WEF’s latest report as a timely reminder for the profession to prioritise the threat of climate change and environmental risk.

Environment

Environmental risks top World Economic Forum Report

Environmental risks make up the entire top five risks in order of likelihood for the first time, according to the latest WEF report.

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How to become a 'seller of risk' in 2020

Assimilating and reporting risk-based data to insurance partners is an increasingly important part of securing competitive pricing and coverage in today’s highly competitive soft market.

Lauren opinion

Could risk management have prevented #Sussexit?

What does the current crisis facing the British Royal family have to do with risk management? More than you or palace officials realise, argues our editor Lauren Gow.

Culture

Risk culture: top focus for APAC risk managers in 2020

In our 2019 Survey, in partnership with AIG, we took a dive into Asia-Pacific risk managers’ greatest concerns and what tops your to-do lists for 2020. With more reporting increased risk engagement and team size, the stage is set for real progress in 2020. Your priority number #1? Risk culture.

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StrategicRISK Asia-Pacific (Issue 26)

In our latest issue, we take a look at how to tackle cyber espionage, spy on the looming recession rumours, as well as the latest results from our benchmarking survey.

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White Island tragedy raises risk questions

New Zealand’s Whakaari/White Island tragedy has raised questions about the level of safety in the adventure tourism and cruise ship sector after the death toll from the eruption rose to 16 people.

Cyber

What risk managers can learn from the biggest cyber attacks of 2019

Looking back at some of the biggest data breaches in 2019 - what are some of the key learnings for businesses and the risk management community

Number 10 Downing Street

What the UK general election result means for you

StrategicRISK explores what the conservative general election win means to UK business leaders and what new risks have emerged on the horizon

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IRM guide on how to hire a great risk manager

The new guidance is based on IRM’s professional standards and is aimed at organisations of all types seeking to recruit senior risk professionals.

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2019: The year of the APAC catastrophe

Asia Pacific has seen an unprecedented year of natural disasters in 2019 with a spate of fires, monsoons and typhoons with experts predicting the worst is yet to come.

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Australians refocus on reputational risk

A new study of 132 Australian business leaders has found more concerned about the long-term impacts of their reputation, such as the erosion of brand equity.

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AXA XL appoints ex-Aon director to Asia role

Stephen Nguyen joins the global insurer as a client management leader based in Hong Kong.

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Five tips to boost your cyber security in 2020

This week, StrategicRISK caught up with Adam Selwood, co-founder of Cynch Security, to get his thoughts on where risk managers should be focusing their attention in 2020.

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WTW partners with Hong Kong-based Tricor

The new partnership will enable Tricor clients base of Fortune 500-listed companies to access to offerings and services from Willis Towers Watson (WTW), which include workforce protection and risk transfer solutions.

singapore

Tech risk provider Sedgwick opens new Singapore office

The move follows the recent integration of the Insight Adjusters and Surveyors team, as Sedgwick continues its sustained growth plan across the region.

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Complex risk environment lies ahead: RMIA

The Royal Commission unearthed misconduct at the major financial services groups, which in turn has led to regulatory changes and increased scrutiny from stakeholders and customers says RMIA CEO Jason Smith.

Besso broker fraud

New product aims to tackle rising corporate fraud

Impersonation fraud is quickly becoming a systemic issue around the world with recent examples including a social engineering scheme utilising artificial intelligence-based software to impersonate an executive

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Can risk management save The Great Barrier Reef?

The tourism asset – valued at $56 billion – risks being overwhelmed by coral bleaching, sea level rises, ocean acidification, and pollution.

Lauren opinion

Set fire to the rain

As parts of Sydney continue to smolder under the weight of catastrophic bushfire and snowfalls in other parts of the state, our editor Lauren Gow, reflects on what this means for all of us left behind.

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Government cyberattacks on the rise

Governments worldwide are vulnerable to cyberattacks, though the associated risks to their credit quality are limited, according to a new report from Moody’s.

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It pays to be bold

Bill payments provider Bpay is finding the balance between quick-moving growth and robust risk management. It comes down to culture, says head of corporate governance and risk Francesca Dickson.

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Could ART solve your risky developments?

Karsten Berlage, managing director and regional head of Allianz Alternative Risk Transfer North America, talks us through its innovative risk transfer product, the Solar Proxy Revenue Swap.

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What is your data worth?

Risk managers often spend so long looking at macro risks, but what about your own personal worth? KPMG associate director, cyber security, Sarah Roberts delves into the murky depths of the dark web to find your personal worth.

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​Risk of downturn to hit credit: Moody’s

This year, the global economy is on track to record the lowest level of growth since 2009, Moody’s said; increasing overall financial risk to global businesses.

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Persuade with action

Ask what the big risks are for the future, says Benedikt Hintze of Georgsmarienhütte Holdings. Because risk management doesn’t just stop in 2020.

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One great reason to risk a startup

The lure of the start-up may be great, but so are the risks. Adam Selwood and Susie Jones, the hearts and minds behind Cynch Security, took the gamble, emboldened and inspired by one thing – a great idea.

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Crooked construction

China’s ambitious Belt and Road Initiative means huge opportunities for developers and investors. But with so many infrastructure projects in developing countries beleaguered by corruption and crime, can this one stay on the straight and narrow?

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StrategicRISK Asia Pacific (Australia edition)

With attention increasingly fixed on unethical behaviour in business, can you be sure your own culture is free from rotten influences? This special Australia edition explores shadow values, why hindsight is 20/20 and our latest benchmarking survey results.

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Top takeaways from PARIMA KL

Business risk management expert Steven Tunstall said the conference was valuable for those looking to widen their experience and learn about the risks of the future.

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Bots behaving badly

New technologies don’t always come with a completed rule book or instruction manual, let alone industry-agreed standards. KPMG director, data science, David Evans asks: How do we take advantage of AI offers while managing and mitigating risks?

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Aon strengthens Australian data risk team

Leading Aon’s Australian Data and Actuarial Analytics team, Sulav Saha will work closely with Aon’s global Centres for Innovation and Analytics, driving the data and analytics strategy for Australia.

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Risk management shifts gear to resilience model

Businesses will need to shift their focus from traditional risk management to building resilience so as to drive business enablement and build trust.

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Live Blog: PARIMA Conference - Redefining Risks

The StrategicRISK team is covering the PARIMA Conference in Malaysia, in partnership with AXA XL, so stay tuned for the latest news throughout the day!

Cyber

One Asia-Pac cyber-attack could cost $110bn: Lloyd’s

The global reinsurance market believes a major attack could cause as much damage as half a year’s worth of losses from global natural catastrophes.

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Five ways to work out if a company is serious about tackling modern slavery

The complexity and extensive nature of international supply chains enable businesses and consumers to turn a blind eye to modern slavery, writes Lisa Hsin, Doctoral Researcher in Socio-Legal Studies at University of Oxford

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How to use data to build an impactful narrative in risk discussion

Danny Wong, founder of Goat Risk Solutions explains how data can help risk managers engage the c-suite and make better business decisions

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You cannot risk manage a decision

There are two components inherent in any decision – ‘what to do’ and the ‘how to do’. The ‘what to do’, cannot be risk-managed but the ‘how to do’ can to achieve prudent risk-managed decisions. Here are Hans Læssøe, founder of AKTUS and former risk manager at The Lego Group, ...

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Digital transformation: what does it really mean?: SIRM Forum 2019

This year’s SIRM Forum opened for its 46th anniversary at the Seedamm Plaza Hotel in Pfäffikon (SZ) on 22 and 23 October 2019

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Risk manager challenge - dealing with rising insurance rates

Communicating rising rates with the c-suite is tricky, say risk managers, but brokers and insurers can help.

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Ups and downs of managing risk

Dean Kong, head of risk (AGM) for the Changi East megaproject – the development of a new passenger terminal to Singapore’s Changi Airport, tells StrategicRISK about the risk challenges of megaprojects.

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Asia-Pacific insurers raise concerns about global outlook

Blackrock’s Global Insurance Report 2019 reveals 54% of the region’s insurers are concerned by financial market risk as a “driver of change in the industry”, compared to just 39% globally.

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PARIMA set to hit KL in November

With transformative business models at play, risk managers need to continually adapt and equip themselves to stay relevant and ahead of the game. Stay tuned for exclusive coverage from the StrategicRISK team on November 4-5.

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“Risk management is not about managing risk, it’s about managing for success”

Stop talking about ‘risk’ and balance downside with upside risks if you want to support informed and intelligent decision-making, says Norman Marks, renowned risk management author

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How to talk to your CEO about risk management

If you want to engage your chief executive, drop the risk talk and focus on what they care about most: making effective decisions, says former chief executive, risk manager and author, Julian Talbot

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Uncertainties can be modelled

Simulation models and analytics are helping risk managers and decision-makers understand the effect of uncertainties and the trade-off between risk and return

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Risk management must influence decision-making otherwise “it’s a waste of time”

No organisation can be without risks, so risk managers must use decision analysis to ensure that they are asking the right questions and taking the right risks, says Hans Læssøe, the founder of AKTUS and former risk manager at The Lego Group

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The right attitude is key to a successful risk culture

Winner of this year’s Risk Mangement Team of the Year, NETS head of enterprise risk management and compliance, Wilson Yeo, discusses the electronic payment service provider’s strong risk culture.

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Can he fix it?

A life-long drive to discover what is broken and make it right has taken BHP’s Robb Eadie all around the world. Now his sights are set on transforming the risk profession. Meet: The fixer.

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Climate, technology and political extremism threaten business supply chains

A combination of political tension, climate change and technological dependency is putting global supply chains under more strain than ever before.

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Building a risk management framework for a 21st century business

Danny Wong, founder of Goat Risk Solutions explores how to structure the risk management framework to embed comprehensive risk management throughout an organisation

AI

Compliance takes centre stage as regulators come down hard on business

Verint vice president, Australia and New Zealand, Michael Stelzer, discusses why we’re seeing increased regulatory pressure on businesses and how automation, machine learning and natural language recognition can help prevent you from becoming the next headline.

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Renaissance woman

For Suchitra Narayanan – accomplished dancer, nimble-footed, creative risk manager, and the 2019 StrategicRISK Awards’ leading lady – risk management is a dance, and being part of changing risk her most captivating performance yet.

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StrategicRISK Asia-Pacific (Issue 25)

In our latest issue, we speak to BHP chief risk officer, Robb Eadie about why he is a lifelong fixer. We also do a deep dive into the stories behind our award winners, including a not-to-be-missed profile of our Risk Manager of the Year 2019, Suchitra Narayanan.

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Slaves to your business

We are all complicit in modern slavery. Do you really know if there is forced labour in your supply chain? Because ultimately, the buck and the power to changed enslaved people’s lives, lands with you.

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Getting to grips with risk criteria

Not all risks are easily measurable, but that doesn’t mean they can’t form part of your risk criteria, argues Sarah Gordon, chief executive of Satarla

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Thomas Cook: tourism experts explain the travel company’s collapse

While the ultimate responsibility for the business failure of Thomas Cook must rest with the hands of its management, they faced a number of factors outside their control, writes  Anna Hillingdon, associate professor in risk and resilience and John Fletcher, Professor, Bournemouth University

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Future gazing with RIMS senior management

RIMS Australiasia president, Kevin Bates, asks Gloria Brosius, president, RIMS and Mary Roth, chief executive officer, RIMS, the tough questions about risk management

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Do the right thing and keep record of it

A panel discussion at the RIMS conference has delved into the ongoing issue of class action lawsuits plaguing Australian risk managers and their D&O insurance partners.

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How to blow up your office & everyone in it

Calamity Monitoring, chief executive officer, Daniel Lewkovitz says checking, testing and retesting your security systems is the only way to ensure your organisation.

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‘We have absolutely lost the ability to communicate’: Bates

RIMS Australiasia president, Kevin Bates has encouraged risk managers to ask themselves the hard questions about why it is they doing things certain ways, particularly in terms of personal and board communication.

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RIMS 2019: It’s no Garden of Eden

Artificial intelligence will be used in workplaces of the future in ways which will be ’humans working with AI, not AI versus humans.’

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Defining your reputation risk

Reputational risk is not “one risk”, but rather a category of risks which may impact your reputation, so how should you define and manage it? Hans Læssøe, principal consultant at AKTUS and former risk manager at Lego Group has this advice

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Data is the future of effective risk management

Traditional approaches to risk fail to resonate with senior managers, they are too “subjective” and ”anecdotal”. And if they dismiss risk management, it is because they lack understanding. So, the answer? We need to embark on #ChangingRisk with the use of data, says Danny Wong, CEO of Goat Risk Solutions

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The hidden issue of risk calculations

Risk information isn’t always communicated on the same “playing field”. Information given to the boss may favour one solution over the other – and is the reason why most strategies fail to deliver expected results. But there are other hidden elements at play, writes Adrian Clements, international enterprise risk manager

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Building resilience against nat cats

As the global cost of nat cat incidents rise to about $340bn, businesses would do well to create a robust plan. Allied World outline an essential action plan for typhoon preparedness – one of the most severe nat cat risks

Ransomware

Ransomware attacks on cities are rising – authorities must stop paying out

A ransomware campaign that targeted 23 US cities across Texas has raised serious concerns about the vulnerability of local governments and public services to cyber-attacks, writes David S. Wall, professor of Criminology, University of Leeds

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The myths that hold risk managers back from making a difference at the top table

When you place risk management into categories, you stop performing ERM and prevent yourself from helping the board make risk-intelligent decisions. Here’s Sarah Gordon’s (chief executive of Satarla) take on #ChangingRisk and influencing decision-making

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Xinjiang supply chain risks intensify

The likelihood of more companies being swept into controversy over the use of forced and child labour in Xinjiang increases, writes Ryan Aherin, Senior Commodities Analyst at global risk analysis company Verisk Maplecroft.

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QBE names Singapore CEO

In his new role, Ronak Shah is responsible for QBE Singapore’s operations. He will be based in Singapore and reports to Jason Hammond, CEO of QBE Asia.

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Could gamification be the key to managing logistics risk?

Gamification is the application of game-principles and game-design elements in anything that is not a game, and it’s a growing trend in logistics, argues KPMG national sector leader, transport & logistics, Brendan Richards.

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From analogue to digital: What next?

Alexander Mahnke, president of the German risk management association and CEO Insurance (controlling & finance, financing) at Siemens, warns of the challenges of hardening commercial insurance rates, digitalisation and silent cyber.

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ArgoGlobal syndicate quits Asia and most marine hull underwriting

Argo’s Lloyd’s Syndicate 1200 is to exit Asia and most of its hull underwriting globally.

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6 ERM resources to support strategic planning

We’re fast approaching that time of year when organisations start their strategic planning and Carol Williams –risk management consultant and founder of ERM Insights – reveals her recommended resources

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Operative versus redundant risk barriers

We need effective risk barriers, but which ones are truly needed, effective and animate innovation? And, crucially, are there multiple barriers protecting the same element but with different appetites? Adrian Clements, an international enterprise risk manager, has this advice.

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Don’t judge me: I am analogue

In the age of digital, our editor, Lauren Gow, ponders whether we have been too hasty to dismiss the old ways of doing things in favour of the shiny new ways.

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5 tips for selling rates rises to management

Rates rises are hitting APAC risk managers hard and boardrooms are awash with questions on why prices are on the increase. PARIMA’s president, Franck Baron, shares his top tips for managing this issue.

New thinking

30 practical steps to implementing ‘Risk Management 2’

Alex Sidorenko outlines a step by step guide to integrating risk management into decision-making, processes and culture – with links to his recommended resources

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Amazon fires explained: what are they, why are they so damaging, and how can we stop them?

Jos Barlow, Lancaster University and Alexander C. Lees, Manchester Metropolitan University place Amazon fires under the microscope

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The risky business of climate change

Climate changes debates are heating up in Asia Pacific. Swiss Re Corporate Solutions, Didier Bélot, head South East Asia, tells StrategicRISK why risk managers need to make the issue a top priority

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Exclusive RIMS Conference voucher code for StrategicRISK readers

The not-to-be-missed RIMS Conference this September is ” a real smorgasbord” for all, says RIMS Australiasia president, Kevin Bates.

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#ChangingRisk Day is coming - Don’t miss out on your place!

Following the overwhelming success of our #ChangingRisk campaign this year, StrategicRISK is pleased to announce we will be hosting #ChangingRisk Day.

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Baron: ‘Current rates don’t reflect the quality of risk management in APAC’

PARIMA president Franck Baron has spoken exclusively with StrategicRISK, calling on the insurance industry to cut management overheads in the new tough market conditions.

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Don't be the next Subway

Global sandwich chain, Subway, has been making headlines for all the wrong reasons recently for franchising infractions. StrategicRISK sat down with industry stalwart, Patrick Smith of Acumen Advisory, to get his thoughts on this risky business model.

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Hong Kong protests highlight need for political risk focus

With tensions escalating in Hong Kong, StrategicRISK takes a closer look at the issue, advising risk managers to ’review and update their business contingency plans and crisis response protocols now’

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APAC firms severely underestimating intangibles threat

While executives have recognised the importance of intangible assets when it comes to driving a higher valuation, there is still more work to be done if companies want to effectively mitigate risk around these assets, according to a new poll.

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Instinct is your most important weapon

As Sydney begins to recover from the latest terror occurrence, our editor Lauren Gow reflects on why preparation is important but the ability to act on instinct is even more so.

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Let’s make every decision risk-based

Risk management isn’t about creating risk policies or appetite statements, it is about changing how business decisions are made, says Alex Sidorenko, CEO of Risk Academy. That’s why he has launched Risk Awareness Week, to challenge and change perceptions.

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It’s a risky move but UPS don’t turn left

Every time an American turns left they are turning against the flow of the traffic. In Australia, it is the right. Not only is that dangerous because it makes collisions far more likely so UPS cut the risk by not turning left. Simple, right?

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Typhoon Lekima insured losses hit $1.3bn

Typhoon Lekima, the strongest storm to hit the region since 2015 has caused more than AUD1.3bn (CNY 6 billion) in insured losses, according to catastrophe modelling firm AIR Worldwide.

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The Cathay Pacific breach: a lesson in managing data protection risks

In June, the aviation industry suffered one of the largest known data breaches in recent history when the personal data of 9.4 million Cathay Pacific passengers was compromised. Mark Parsons, Mark Lin and Byron Phillips from Hogan Lovells in Hong Kong unpick the lessons to be learnt

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Risk culture or culture risk?

In this article, Business Olympian Group, director, Gavin Freeman, will try to unpack the meaning of “risk culture” and assess whether the role of risk teams is to measure risk culture or culture risk.

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Chernobyl: Your guide to Risk Culture 101

Chernobyl is an enduring lesson for risk managers on the damning effect a poor risk culture. It would be easy to say ’that would never happen again,’ but in the grubby aftermath of the Hayne report, can we honestly say we have learned our lesson, asks our editor, Lauren Gow?

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Drones ‘major risk’ for APAC airports

Amid a spate of drone disruptions across international airports over the past year, a new report from Willis Towers Watson presents an action plan for the APAC region on handling this looming threat.

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Why gender balance is important in risk management

What can we do to address gender equality in risk management? Maybe it’s a shift into a different approach that will enable more female leaders and improve the service, irrespective of gender, argues risk practitioner, Patrick Aubrey.

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Risk lessons you should learn from Kodak

Historic business failures present some cautionary tales for modern risk managers. In this piece, StrategicRISK takes a closer look at why some of the biggest names in history no longer exist and why.

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IP theft costs $600bn a year. Are you prepared?

Almost every country – and company – is grappling with how to deal with the issue of IP theft as we shift increasingly to a knowledge-based economy. EverEdge CEO Paul Adams examines this critical issue for risk managers.

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Book Review: Shaping the Future of the Fourth Industrial Revolution

Complexus principal and risk thought leader, Warren Black, takes a deeper look at the new book from founder and chairman of the World Economic Forum, Klaus Schwab.

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Cyber insurance provides “false sense of security”

Cynch Security co-founder and seasoned risk practitioner, Susie Jones, urges risk managers to have an effective response plan that has been repeatedly tested to ensure it holds up in the event of a cyber security event.

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The ethical balancing act of boardrooms

Could organisational psychologists be the key to cutting the risk of misbehaviour? In the post-Hayne report era, all risk managers need to be looking at ways to set ethical behaviour with ‘tone from the top’.

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How risk managers and internal auditors can improve the effectiveness of risk management

There is no commonly accepted idea of what effective risk management is. So, what steps can risk managers and internal auditors do to measure effectiveness? Norman Marks, renowned risk management author, has this advice

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Critical infrastructure at risk

The introduction of the industrial internet of things (IoT) across production and supply lines is likely to lead to a broader number of cyber risks and potential attacks.

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In the delegation blame game, no one wins

Our editor, Lauren Gow, has an issue with other people. Not surprising, but when it comes to the delegation of risky tasks, who can blame her when things can go horribly wrong?

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The risky logistics of space

On the eve of the 50th anniversary of the first moon landing, KPMG’s Partner, National Head, Transport & Logistics, Brendan Richards gives risk managers some out-of-this-world tips of managing interplanetary supply chains.

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How do you risk manage chaos?

On a recent trip, our editor, Lauren Gow, very nearly missed her flight through no fault of her own. So, how do you risk manage for The Butterfly Effect?

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Risk culture – creating clarity from chaos

Corporate toxicity, disruptive innovation and competition – can all be managed with strong risk culture set from the top down, writes Horst Simon of The Risk Culture Builder

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Will cyber policies cover huge GDPR fines facing British Airways and Marriott International?

The penalties come two days after British Airways was fined £183m by the Information Commissioner’s Officer for a separate data privacy breach

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Managing major infrastructure risk

Major infrastructure projects present considerable opportunities to developers and investors, but transparency and corruption continue to threaten

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Everything you need to know about the G20 summit

In this must-read piece from Andy Gilholm, principal and director of Analysis at Control Risks considers the outlook beyond the G20 talks and considers some specific escalation risks including China’s planned “unreliable entities list”.

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Canopius hires four in APAC push

The appointments support Canopius’ ambition to expand in the Asia Pacific region by targeting a combination of SME business via coverholders and wholesale direct and facultative.

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Culture and trust in a complex and disruptive world

Disconnected risk culture (DRC), says Alan Hilburg, president, Hilburg Associates, is the single greatest threat to organisations over the next five years. Why? Failing to culturally connect multi-generational and multi-cultural workforces has created a global crisis of distrust within organisations - and historic levels of risk.

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Severity or frequency – which comes first?

We all need to set priorities but when we need to speak about actions at company level, with the focus on performance transformation and stakeholder value, have we really analysed what this actually means? Adrian Clements, international enterprise risk manager, has these tips

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Will insurers ever be able to address reputation risks?

Reputation risk tops the table of greatest risk in CNA Hardy’s recent survey. But it is still difficult to insure. If insurers want to play their part in #ChangingInsurance, they will need to develop risk manager relationships beyond binary transactions and immerse themselves in their clients’ company

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Cyber resilience in the digital era

In a digitally transformed and hyperconnected business world, all industries are at grave risk of cyber attacks. But a robust risk, insurance and claims management framework could help mitigate the impact

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D&O sharks claim first victims. Are you next?

Make no mistake: the victim list from the D&O war will be long and distinguished. But how much more blood will be allowed to flow out of corporate Australia before something is done, our editor Lauren Gow questions.

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AGCS shake up sees closure of NZ business and APAC CEO replaced

AGCS will also cease underwriting of long tail risks in Australia as James Stack is named new chief following departure of current CEO Willem Van Wyk.

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How to identify your key intangible asset risks

Do you know where your intangible risks lay? EverEdge’s managing director, Australia and New Zealand, Michael Masterson, gives you the hard facts in this easy 5 min read.

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StrategicRISK Asia-Pacific (Issue 24)

Risk is inherently stressful and, most likely, you are absorbing that stress every day. Our editor, Lauren Gow, offer up a genuinely difficult challenge: take better care of one of your company’s greatest intangible assets – you.

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Top risks: a consolidated analysis

We are bombarded by numerous reports of the top risks to companies now and in the future. But what do they really mean for risk managers? Gabriel Souza, risk management specialist takes a detailed look at six risk reports and has this analysis

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Environmental bonds: When polluter pays

By Marc Cambourakis,country manager,Atradius Bonding France and Simona Belati, senior manager technical underwriting, Atradius Bonding Italy

If a site suffers an environmental accident, the operator is liable for clean-up – even if insolvent. Environmental bonds let you breathe, knowing your costs, and your reputation, are covered

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Risk monitoring: 6 considerations for understanding this make or break moment

Businesses take risks all the time but fail to monitor and manage these risks effectively, but Carol Williams, enterprise risk management consultant and founder of ERM Insights, has some tips to ensure risk monitoring is done in a way

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Will insurers join us in the future?

The ever-shifting business landscape means all too often new risks are labelled ‘uninsurable’. But insurers do want to change this. Our latest campaign, #ChangingInsurance, aims to push things forward

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Three levels of strategic risks

The concept of strategic risks has been given a lot of attention. ‘Strategy’ is possibly the hottest and sexiest word in business – but what does it actually mean in terms of risk management? Hans Læssøe, principal consultant at AKTUS, has this answer

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What should your risk function deliver in the 2020s?

The 1990s was the decade of training. Then came the decade of assuring, when audit committees started driving a stronger risk management agenda. This decade many organisations have developed a “look forward” culture, but what does the next decade in risk need to bring? Bryan Whitefield, risk consultant and director ...

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Why you need to rethink supply chains for the tariff storm

Escalating trade tensions between the US and China is creating headaches for Asia Pacific risk managers, but there is a solution and it is all in the planning, says SAP Ariba ANZ, regional vice president, Henrik Smedberg. 

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Multinationals 'acutely challenged' by cyber

The risks posed by malicious actors are increasing in volume and sophistication and organisations’ vulnerabilities constantly challenged, according to new Chubb report.

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How to prepare for the worst day of your career

A crisis is an acid test for management and not one that any organisation wants to fail, especially in the age of social media

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Where should risk management be placed within the governance structure of a business?

As long as risk managers have access to the decision-makers at the top table, it doesn’t matter where they fit within the organisational structure. But there are arguments for why risk management should sit with internal audit, writes Alex Sidorenko, chief executive of Risk Academy

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Perception is king

A ‘stuffy’, ‘data-led’, ‘paper-driven’ profession is what some believe risk management to be. But it is a perception far from the truth, and Tim Murray, the new chair of UK risk management association Airmic, is on a mission to let everyone know what risk management really is about. Sara Benwell ...

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Making risk management a state of mind

Get away from your desks, network, build relationship and understand what is close to the hearts of the top table. These are just some of tips offered by Alexander Larsen, president of Baldwin Global Risk Services, for how risk managers can make a difference in #ChangingRisk

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Four changes risk managers must make if they want to make a difference

Risk managers need to change the way they view, approach and act on risk. There are no quick fixes, just a hard process for #ChangingRisk, writes Hans Læssøe, principal consultant at AKTUS and former risk manager of The LEGO Group

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Revolutionising risk

When it comes to risks, the only constant is change. We have launched the #ChangingRisk survey to find out how you, the industry, believe we can adapt, so that we remain most valuable and relevant in this rapidly moving business world. Here’s a preview of the results so far

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“Today’s risk management is fragmented”

#ChangingRisk for the future requires a ‘unified’ voice to break down silos, says Colin Barker, company secretary for Bayer UK

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How to upgrade your risk management

As part of our #ChangingRisk series at Airmic 2019, Julia Graham, deputy chief executive and technical director at Airmic says risk managers must upskill on communication and storytelling and broaden their knowledge to gain the eyes and ears of the c-suite and the board

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Valuing intangible assets

Data has an intrinsic value but how do insurers value an intangible asset? James Tuplin from AXA XL explains.

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Businesses have not done enough to protect intangible assets

Firms have not done enough to protect their core assets, which go far beyond the bricks and mortar of factories and offices,  UK risk managers have been warned

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Risk managers need to be brave and reach the next level

Tracey Skinner, risk manager, BT and a board member at UK risk management association AIRMIC, explains why risk managers need to talk to as many people as possible and not be blinded by their jargon

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Is risk ready for industry 4.0?

Humankind has become socially dependant on a personalised, pocket-sized computer which offers us unlimited access to people, products, tools and information, and on an absolute-global scale. But is risk management ready for this brave new world asks Complexus principal, Warren Black.

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The illusion of control

Business leaders may be focussing on the wrong areas by trusting optimists within the business, argues Marcus Beard, associate director, Arthur D Little

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Risk managers want to become better storytellers

Risk managers are seeking to acquire a rather unexpected skill, according to Airmic.

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Ludlow criticises insurers for delaying renewals

Delays cause risk managers to “rethink their programmes at very late notice”

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Becoming data smart

Andy Jones, head of risk engineering, property and casualty on how risk managers can overcome the biggest big data challenges

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Is insurance fit for purpose?

Managing risks to intangible assets, changing business models, an evolving risk landscape are all hot talking points for risk managers in Harrogate. We caught up with Mark Stephenson, head of business development and market relationships, Liberty Specialty Markets, to find out how insurers are dealing with change

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Tackle the risks of the digital revolution with an integrated risk management approach

Integrated risk management is transforming the way in which risk managers approach and manage technology-related risks and the interconnected nature of 21st century threats, writes Quin Rodriguez, vice-president, strategy & innovation at Riskonnect

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2019 award winners revealed

StrategicRISK rewarded excellence in Asia–Pacific’s risk management community at a gala reception in Singapore

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Risk Forum APAC 2019 - Live blog

Live coverage of StrategicRISK’s Risk Forum APAC in Singapore

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Bad culture is the elephant in your room

Use risk appetite as a way to achieve alignment and clear communication about the risks that people and teams can and should take and manage, says Gareth Byatt, principal consultant at Risk Insight Consulting and the Institute of Risk Management’s Asia-Pacific ambassador ahead of Risk Forum Asia Pacific.

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Corridor conversations hold key to underlying risk management

Ahead of his closing keynote address at the RIsk Forum Asia Pacific, former chief risk officer, SwissGrid and co-CEO, RiskTalk, Kurt Meyer examines why you should always listen to corridor conversations.

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'Risk needs to not be an afterthought', Narayanan

Speaking ahead of our Risk Forum Asia Pacific in Singapore, former AirAsia head of risk and insurance, Suchitra Narayanan says it is time to define roles and boundaries within organsations.

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Ignorance is not bliss

In the new age of advanced risk, complacent organisations are allowing themselves to become vulnerable to the disruptive forces of the Fourth Industrial Revolution, says founder and principal of Complexus, Warren Black ahead of this year’s Risk Forum Asia Pacific.

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What is strategy? That’s the question

Much has been written about the risk leader of the future, but there is less agreement as to how exactly this person can be strategic in their approach. Darren Munday, partner at ICG, gives us the ‘how’ and proposes a structured approach to horizon scanning, in our latest #ChangingRisk article

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Crisis management 101

If we asked each company how their crisis plans are structured and managed, we will likely see inconsistencies, out-of-date procedures; ill-prepared stakeholders, says Gabriel Souza, risk management specialist. Here’s his advice

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LIVE: PARIMA Manila conference - Redefining Risk

Stay tuned today as the StrategicRISK team comes to you live from PARIMA’s Manila conference.

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Act now before it is too late

Exactly a month after the devastating terrorist attack in Sri Lanka, Suchitra Narayanan, reflects on why it is so important for risk managers to have care, conviction and courage.

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APAC risk managers fear reputational damage

Global risk readiness is at an all-time low, as Asia-Pacific risk managers fear reputational damage and increasing competition, according to a new survey from Aon.

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First annual DB report highlights cyber risks’ magnitude

A little over a year since Australia’s Notifiable Data Breach (NDB) legislation came into force and human error is found to be the key reason why data breaches occur according to a new report from the Office of the Australian Information Commissioner’s (OAIC).

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Building a taxonomy of emerging risks

Reviews of risk registers, historical data and forecasting – the Cambridge Centre for Risk Studies unveil its approach to identifying emerging risks

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Parametric products part of the future: Mumenthaler

Speaking ahead of the PARIMA conference in Manila, Jan Mumenthaler, principal insurance officer, International Finance Corporation, says parametrics will play a crucial role in nat cat risk transfer.

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Learn the language or risk being left behind: PARIMA's Baron

Risk managers need to change their approach to risk management by becoming fluent in the language of their business, not just the language of risk says PARIMA chairman Franck Baron ahead of the Manila conference.

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The future of intangible asset risk transfer is here

In this preview to PARIMA’s Manila conference next week, Allianz Global Corporate & Specialty, regional head of ART, Asia Pacific, Richard Green answers some of your questions on managing intangible risks.

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Don’t be in the dark on data privacy

Data is fast becoming one of the most important intangible assets and organisations need to take data privacy seriously. KPMG’s data privacy services national leader, Kelly Henney talks through the grey areas for risk managers.

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High stakes on cyber regulation: PARIMA

Cyber regulation has become a “critical issue for governments, regulators and corporates across the region”, with a greater emphasis on data protection and governance, says PARIMA General Secretary Steve Tunstall.

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ILS risk transfer market slides as investors question mechanics

The period also saw innovation with the first-ever issue of a £75 million bond dedicated to terrorism reinsurance, according to a new report from Willis Re.

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Risk management systems versus risk management process

Process management achieves results through planning and system management manages various components that must work together to achieve an objective. Here’s how the two should work, writes Adrian Clements, international enterprise risk manager

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Want to make a difference in risk? Try adapting your soft skills

Dealing with the c-suite is becoming one of the most critical components of a risk manager’s job. And to play a bigger role in #ChangingRisk in their companies, risk managers need to develop critical soft skills, says François Malan, chief risk officer at Nexity

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The risk manager’s job is no longer about risk defence

We are facing a paradigm shift. Risk management cannot be defensive anymore. Risk management must support the businesses and should be at the root of organisational strategy. Brigitte Bouquot, Amrae president and risk manager for Thales lays out her vision for #ChangingRisk

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Be a better risk manager using coffee

How do you know what risks are top of mind in the business if you don’t ask everyone? Seek group enterprise and technology risk manager, Ben Agar says #changingrisk is impossible without these conversations.

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Getting risk considered before decisions are made

The most effective tactic to ’getting a seat at the table’ is simply to invite yourself, according to Telstra’s chief risk officer, Joanna Knox.

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Think of risk management as part of an ecosystem

Risk managers need to consider what is fit for purpose for their organisation, rather than using traditional techniques or using techniques learned in previous positions, says iCare chief risk officer, Gavin Pearce.

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Regulators 'widening their gaze' on ethics

Hayne’s question around whether the conduct of organisation is fitting with community standards is something all businesses, not just financial services, need to pay attention to.

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Political risk remains front and centre

From China and Trump to Brexit and Brussels, political risks continue to concern global businesses in 2019. How have companies adapted? And what are the biggest fears for the rest of the year?

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Making risk a perfect fit

Online retailer THE ICONIC prides itself on fashion-forward designs. Its head of risk & controls, Sarah McNamee, says there is no one-size-fits-all approach to risk.

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Catlin stalwart launches new $1.8bn complex risk (re)insurer

Convex will underwrite insurance and reinsurance for complex specialty risks across a diversified range of business lines in London and Bermuda.

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Economic slowdown ranks as top risk for business

A slowdown in the world economy topped a list of risks facing global businesses, with reputational damage also front of mind for corporate bigwigs, according to a survey from Aon.

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Insurers are covering reputational risk

For too long there has been a mismatch between the cover that risk managers demand and the policies that insurers are willing to provide.

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Be part of the #ChangingRisk movement – take part in our qualitative study

Seven questions, 5 minutes – all that’s required to be part of the #ChangingRisk movement and have your say in our #ChangingRisk manifesto.

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FM Global to increase engineer workforce by a third

The firm said it intends to hire more than 60 seasoned engineers this year who will focus full time on helping clients prevent boiler and machinery-related (B&M) losses.

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Managing offshore wind project risk in nat cat-prone APAC

As the renewable energy sector in APAC grows, so do concerns on the impact of natural catastrophes on offshore wind turbines and business continuity. Swiss Re Corporate Solution’s head of innovative risk solutions APAC, Andre Martin, discusses.

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The future is bright if risk managers embrace AI techniques

A new generation of risk managers will proactively seek out risk roles and careers; become the pioneers of new risk techniques through the use of AI; and become the c-suite’s go-to person. That’s the #ChangingRisk hopes for the future, according to Ferma’s Typhaine Beaupérin, and Gilbert Canaméras

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Optimise your risk management and make your actions decision-focused

As risk managers, we’re haphazard at application of decision-focused risk management because we don’t ask hard questions, says Matt Livingstone, independent risk specialist

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Stop thinking like risk managers and start thinking like the C-suite

As part of #ChangingRisk, I’d like more risk managers to report to the CEO, with access to the board, says Gaëtan Lefevre, group risk and insurance manager at Cockerill Maintenance & Ingénierie.

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AI and robots create new risks and opportunities, Lloyd's

Insurers are leveraging the potential of AI themselves to remain competitive, improve processes and increase efficiency, says a new report from Lloyd’s

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How the Prysmian Group is preparing for a hard Brexit

Supply chain and business interruption are some of the challenges that Alessandro De Felice, chief risk officer at the Prysmian Group and Ferma board member, is trying to mitigate as he prepares his business for the UK’s departure from the EU

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Brexit deadline extension could cost firms big

For Carl Leeman, the chief risk officer of logistics firm, Katoen Natie, Brexit plans for his business are underway. But he warns that the extension, while better than no deal, will significantly bump up operational costs for most companies

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The future is in the ‘radical risk management process’

Risk management is a mental process, not a technical one of data gathering, evaluation and reporting. Those who do nothing will just be exploited by those who constantly change and improve. So, swap tradition for a four-tiered ‘radical’ risk management process, writes Horst Simon of Risk Culture Builder

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Does the Notre Dame blaze mark a failure in risk management?

The fire all but destroyed the roof of the 850-year-old building and felled its spire, to the dismay of thousands of horrified onlookers who lined the streets of Paris. Risk managers in France and across Europe ask, could the disaster have been prevented by more effective risk management?

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Awards shortlist for service providers announced

Who is in the running at the third annual StrategicRISK Asia-Pacific Risk and Insurance Management Awards?

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From the ashes, a phoenix will rise

Resilience is paramount when it comes to disasters, yet the best lessons are often those hardest learnt writes our editor Lauren Gow.

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Four ways to tell your ERM programme is successful

Support from leadership, the role of the strategic partner, impact on organisational culture and ideas turned into value – are some of metrics of a successful ERM framework. But what do they mean? Carol Williams, enterprise risk management consultant and founder of ERM Insights by Carol, tells us more.

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Finally, an effective alternative to risk matrices

Alternatives to risk matrices have been around for decades, the question is why aren’t risk managers using more effective methods? Alex Sidorenko, chief executive of Risk Academy, outlines the steps to enhancing the use of matrices

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Traditional risk management versus ERM

Traditional risk management is a one-dimensional view connected to assessing insurable risks; and ERM can help peel back the onion layers to additional dimensions of risks. So how do we go beyond one-dimensional risk assessment? Carol Williams, enterprise risk management consultant and founder of ERM Insights, has this advice.

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Hard market is a gift

The hardening market is a prime opportunity for insurance buyers to build long-lasting relationships with insurance partners, says Allied World Asia Pacific’s Carolyn Shreeve.

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Stop underestimating water risk

Asia faces a triple threat from water risk and no one is taking any notice, Debra Tan, director & head, China Water Risk warns.

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Protecting workers in a gig economy

Sheri Wilbanks, global innovation lead for client service development, AIG explains why remote and ‘gig’ economy workers need the same risk protections as traditional workers.

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Managing reputation risk in the cyber age

Dr Deborah Pretty, founding director, Pentland Analytics presents risk managers with new evidence on the dynamic between reputation risk and shareholder value.

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Don’t make tools the shop window in risk management

Traditional risk management tools are limiting the effectiveness of risk management and holding the risk management profession back, says Patrick Smith, managing director, Acumen Advisory.

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Why I will never be a risk manager

The StrategicRISK team is on the road this week as we host our 6th annual Hong Kong Risk Forum at the Island Shangri-La, an undeniably beautiful venue. We have hosted the forum here a few times and my name is now well known to staff – as I would learn ...

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The risky business of getting from A to B

Did you know Alexander the Great would actually kill his logisticians if things went wrong? That’s not the only risk in logisitcs says Allied World’s head of risk management, global markets, Paul Houston.

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Risk managers fear mergers will impact choice

Risk managers predict further consolidation of the broking sector following Marsh’s £4.3 billion takeover of JLT, but fear mergers will reduce the level of choice for insurance buyers.

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Insight not information: what the CEO needs from their risk manager

If the c-suite care about decision-making, opportunity and strategy, why do risk managers focus on compliance data and backward facing risk analysis? This will eventually make us obsolete, writes Adrian Clements, international enterprise risk manager and former risk manager at ArcelorMittal

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Virtual panel discussion: How to elevate risk management with risk-based decision-making

Our panellists – Alexander Larsen, Alex Sidorenko, Danny Wong, and Hans Læssøe – answer questions from the audience about how best to apply risk-based decision-making and overcome the challenges of board and c-suite engagement

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Marsh JLT mega merger closes as ex-JLT boss slams deal

‘The best people will surely leave’ claims former JLT commercial director James Twining in a bleak assessment of Marsh’s takeover of JLT.

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Time to push nat cats up the chain of command

CFOs are increasingly being held accountable for losses arising from nat cat events. Their best defence? To team-up with their risk manager

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Cyber heatmaps: do we need to stop rating our risks or categorising them by colour?

Heat maps are focused on ‘risks’, but decision-makers don’t care much about the risks to avoid or mitigate. Their prime focus is on the success achieved by taking the right risks, so do we need to rethink cyber heatmaps? writes Norman Marks, renowned risk management author.

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StrategicRISK Asia-Pacific (Issue 23)

Our industry must adapt to keep up with the ever-evolving risks of today’s business world. Our #ChangingRisk social movement promotes fresh thinking – yours – on how it can find its wings. FInd out how you can help in our latest edition!

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Let’s quit the blame game

Zero tolerance to mistakes only leads to cover-ups and misconduct. If we hope to run our businesses ethically, we need to foster no-blame risk cultures. And listen out for alarm bells before the whistles even need to blow, writes our editor Lauren Gow

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How Lloyd’s will reinvent itself after its £1bn loss

After more than 330 years, the venerable insurance market Lloyd’s of London has announced plans to overhaul the antiquated way it does business

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Achieve decision-focused risk management in minutes

Prudent risk management can take minutes and can be easily be scaled up, with the right approach, says Hans Læssøe, former risk manager of The LEGO Group

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How to insure your cryptocurrency risks

Trading in cryptocurrencies used to be the domain of bedroom boffins - but now it has grown into a market worth well in excess of $100bn. However, those dealing in crypto are struggling to get insurance cover.

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Taking the temperature of risk

When Kurt Meyer took the job as head of risk and insurance for the swiss national grid, he had no idea that it would lead him to reshape the conversation around risk management.

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The science guy

Smart technology while great for business are also increasing our exposure to cyber risks. But Airbus Defence and Space’s risk manager Philippe Cotelle says it’s not rocket science. His approach to cyber risk is influencing our entire industry. His first lesson? Make the tech guys your new best friends

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3LOD is dead

Mission Australia’s general manager, enterprise risk and assurance, Andrew Methven, has joined our #ChangingRisk campaign by sharing his thoughts on why 3LOD is fine as a conceptual model but is very difficult to actually make work.

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Cyber insurance to face another test after Hydro hack

One of the largest aluminium producers in the world, Norway’s Hydro, is set to put cyber insurers to the test after a massive ransomware attack shut down the multinational’s operations

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Brexit, global trade wars, climate change, ageing populations and new technology: the five drivers to an unpredictable world

Business leaders believe that the world is becoming less predictable, posing a threat to revenue.

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Assessing the effectiveness of your risk management programme

In 2008, when FIs were in trouble, the UK banks decided to stop making loans. They brought their ‘risk appetite’ down to very low levels. But if their risk management programme had been assessed using the right criteria, could the situation be different? asks Norman Marks, renowned risk management author

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Is our current thinking of risk management ineffective and flawed?

“ERM needs to be aligned with our company’s strategy”; “We must engage and clearly articulate risk to stakeholders.” These perennially used phrases aren’t untrue of risk management, but why don’t we say more, create more and aim to be multidisciplinary? asks Gabriel Souza, risk management specialist

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Three fatal mistakes corporate risk managers make

A new paradigm in risk management is beginning to take shape, with more professionals talking about a shift to risk-based decision making and culture. But this has also uncovered some ugly truths about how we apply risk management in our businesses, writes Alex Sidorenko, chief executive of Risk Academy

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Marsh owners issue further $1.1bn notes offering to acquire JLT

Marsh’s acquisition of JLT is expected to be finalised on 21 March subject to customary conditions and the new notes offering is in addition to a $5bn notes issuance announced in January

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Risk managers can become facilitators to strategic decisions by taking these key steps

To influence, risk managers must challenge the quality, prudence, and value of executive decisions, but many may feel untrained to do so. In this video interview, Hans Læssøe, principal consultant at AKTUS and former risk manager of The LEGO Group, walks us through the steps

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Challenge and change or be replaced by robots

There is no greater ammunition for #ChangingRisk than the opportunities presented by new technology. We must use it to enhance and evolve risk management practices or we risk becoming obsolete, writes Philippe Cotelle, board member of Ferma and Amrae

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Combat fear with leadership

Our editor Lauren Gow reflects on the Christchurch massacre, urging risk managers to take lessons from Prime Minister Jacinda Arden on how to handle fear in the face of adversity.

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And the finalists for the 2019 APAC awards are...

The second round of judging will take place in April with shortlisted finalists facing a grueling interview with a judging panel.

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Airport risk management can boost investment

Private investment is needed to fund Asia’s airport boom, and risk managers can help make infrastructure projects more attractive, Willis Towers Watson believes.

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Why current risk definitions just don’t work

‘Intangible’, ‘the effect of uncertainty on objectives’, ‘likelihood’, ‘probability’, ‘consequence’, and ‘impact’ – do these perennially-used terms add clarity to risk management practices or do they just dilute and confuse what we do? asks Tony Thornton, ERM and business continuity expert

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A how-to guide on how to apply decision-focused risk management in practice

StrategicRISK and Hans Læssøe principal consultant at AKTUS and former risk manager of The LEGO Group took to LinkedIn for a ‘live’ Q&A on how best to carry out decision-focused risk management. Here’s how our discussion played out

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Brexit chaos spells trouble for risk managers

As the Brexit deadline nears, uncertainty prevails after British MPs rejected the prime minister’s deal – twice. StrategicRISK gathers the reaction of European risk managers, including the chief risk officer of French pharmaceutical company, Ipsen, who has prepared the business for a ‘hard Brexit’. Sara Benwell reports.

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The abuse of 'risk'

Risk can be a good thing – business survive and thrive on good risk management. But the problem is, because we have all been misusing the word ‘risk’, its true meaning is now lost, writes Tony Thornton, ERM and business continuity expert

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​Boeing crisis puts risk management into action

The grounding of Boeing 737 Max planes following fatal crashes in Ethiopia and Indonesia will prompt airline risk managers to review their operations and put business continuity plans into action, according to senior risk professionals.

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Underestimate perception at your peril

Let’s face it: Boeing have not had a good week but it is much worse for the airlines who have done nothing wrong, argues our editor Lauren Gow.

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Let’s harness the future talent of risk

A new generation of risk professionals will enter the profession with diversity of new skills and thinking. We need to harness and encourage their development so that together, we are #ChangingRisk for the better, writes Patrick Aubrey, risk manager for Turner and Townsend

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(Mal)practices in the use of risk matrices: is there an alternative?

The effectiveness of risk matrices has long been debated with some questioning its value – so let’s assess other risk methods, including multi-criteria, writes Slawomir Pijanowski, risk management expert and consultant for Atos Consulting

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Let’s rethink the bow tie model so we can effectively articulate risk

Home in on cause and outcomes not incidents and risks, writes Tony Thornton, ERM and business continuity expert

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Why the whole concept of risk-appetite is nonsense and how to change it

The concept of risk-appetite has been around for years, yet so many risk practitioners still find themselves confused and unsure how to quantify, formalise and document it. Well, the short answer is you don’t need to. There is a better way, writes writes Alex Sidorenko, chief executive of Risk Academy

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Better decision making through risk visualisation

Alexander Larsen & Ghislain Giroux Dufort of Baldwin Global talk through how risk managers can use risk management as an effective decsion making tool.

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Decision-focused risk management – in four steps

Decision-focused risk management may seem very different to traditional risk management, but making the change is not as challenging as it may appear, writes Hans Læssøe principal consultant at AKTUS and former risk manager of The LEGO Group

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Marriott cyber attack: could it have been prevented?

The hotel chain was hit by a significant cyber hack, affecting 500,000 customers, who had sensitive data stolen, including names, addresses, dates of birth and passport numbers. From IT security, due diligence to cyber insurance, risk managers draw out lessons for the future

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How risk managers can prevent the next big cyber attack

Training employees to log themselves off the computer system when they walk away from their desks and spot suspicious emails is key to avoiding cyber breaches, the incoming head of risk and insurance for communications regulator OfCom has warned

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Here to help, not hinder: shaping the future of risk

Backlit by our #ChangingRisk campaign, we quizzed Katie Moore, Vodafone’s senior group risk manager and ever-popular resident foodie, on how she would shape our industry’s future and how to challenge the misconceptions about who we really are

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How I would change risk management

Gareth Byatt, principal consultant at Risk Insight Consulting and the Institute of Risk Management’s Asia-Pacific ambassador shares his views on #ChangingRisk

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Gender: Why not both?

As the world marks International Women’s Day (IWD), a celebration of the contribution women make, our editor Lauren Gow believes it is a perfect time to reflect on how balancing gender in risk management could be beneficial for all.

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Call for gender diversity in senior roles

Today marks International Women’s Day so StrategicRISK asked female risk managers for their thoughts on how they would like to see the risk management profession embrace gender diversity.

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Aon spikes plans to table offer for Willis

Insurance and reinsurance broking giant Aon has scrapped plans to make a bid for its slightly smaller rival Willis Towers Watson.

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Enhancing risk to include decision-focus, intelligent risk taking

Risk managers need to change the scope of risk management according to Hans Læssøe who shares his views as part of StrategicRISK’s #ChangingRisk campaign

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Risk management blended with data will deliver incisive decision-making

Risk management is transforming, but data is the game-changer in #ChangingRisk for the future, says Danny Wong, founder of GOAT Risk Solutions and former director of corporate risk at IHG

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Innovation needed to fight climate risk

Data and index-linked insurance products can help guard against climate risk and severe weather events, according to global broker Aon.

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UIB appoints new Asia head

Hiroki Miyamoto will return to Singapore to take up his new role as CEO and a board member.

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Cyber governance ‘not rocket science’: Airbus

Philippe Cotelle, the head of insurance and risk management for the defence and space division of Airbus, has said the governance of cyber risk is “not rocket science”.

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Storms on the political horizon increase risks for global firms

Rising geopolitical tensions and protectionist sentiments, coupled with ongoing trade disputes have made the world more dangerous for multinationals according to Marsh.

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Top 5 reputation risk predictions for 2019

Life is unpredictable for the most part, but one thing is certain - business owners will face new and emerging challenges, according to risk experts.

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Review third-party relationships: Dow Jones

Risk managers should carefully review business relationships with third-party agents amid growing scrutiny on compliance, bribery, and corruption, according to a leading risk expert.

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‘We need to be agile in the way we look at risk’

Nor Adila Ismail, the long-serving chief risk officer at Malaysian oil and gas company PETRONAS, has taken an unconventional route to the top. She reveals what she has learned about the risk profession, and offers some advice to newcomers.

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Lessons from Australia’s Royal Commission

Australian risk managers may have to “overhaul” the way they operate following the Royal Commission into financial services, says Dr Deen Sanders, a partner at advisory firm Deloitte.

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Be the change you want to see

Something needs to be done to transform risk management and this shift starts with us as risk managers, writes risk expert Suchitra Narayanan.

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Risk management - is it relevant?

For those risk managers who are not already questioning risk management, here is why risk manager Andrew Potter, believes it is time to get behind #ChangingRisk

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Brexit: It boils down to deal or no deal

As British Prime Minister Theresa May fights to negotiate a Brexit deal that will command a majority in parliament before the UK crashes out of the EU on 29 March, StrategicRISK speaks to an expert about the potential impact on insurance buyers.

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Willis Re appoints APAC agriculture trio

David Gregori joins the WTW team from Lloyd’s syndicate, Canopius and will be based in Hong Kong.

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StrategicRISK launches #ChangingRisk campaign

Risks are changing and risk management needs to change too. That’s why we’ve launched #ChangingRisk - a campaign promoting new thinking in risk.

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Time to reposition the role of risk managers

PARIMA chairman Franck Baron tells StrategicRISK why ’redefining risks’ will be an important central theme that will be echoed across PARIMA’s conferences and new initiatives in 2019.

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Navigating risk in globalised supply chains

As the modern business world becomes more inter-connected and complex, the supply chains with which organisations operate do too SAP Ariba ANZ, regional vice president, Henrik Smedberg explains.

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Make a practical flood plan now

As the flood waters begin to recede in Queensland, FM Global’s operations engineering manager, Paul May explains why companies in high-risk areas should review their practices as soon as possible.

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Mondelez case prompts cyber warning

As the $100m Mondelez vs Zurich case continues in the US, StrategicRISK takes a closer look at the case and what it means for risk managers globally.

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QBE names Jason Hammond as CEO of Asia

QBE announced in October that effective 1st January 2019 it would streamline its business divisions to help build more agile and customer-centred.

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'In the midst of a crisis of confidence' says risk president

Amrae president, Brigitte Bouquot, warned risk managers at this week’s conference that they must adapt to stay relevant to their businesses.

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Do we dare regulate AI?

With every seismic shift in technology come new and challenging risks. However, the risks of AI will only grow if we leave their resolution to chance, writes Ken Reid, national managing partner innovation, digital & data at KPMG.

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In defence of risk heat maps

Risk management expert, author, consultant and executive director of Vose Software, David Vose, takes a satirical stance on the ever-controversial risk heat maps

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Parametric insurance - what you need to know

Swiss Re Corporate Solutions, head of innovative risk solutions APAC, Andre Martin, tells StrategicRISK why risk managers should look to parametric insurance.

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StrategicRISK wants to hear from you!

Awards deadline extended to February 8 with eight risk management awards up for grabs, so get in quick before entries close.

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$193bn global bill for ransomeware attack

A global ransomware cyber-attack could cost $193bn and affect more than 600,000 businesses worldwide, according to a new Lloyd’s report.

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Too small to fail? Think again

Some SMEs believe they are too small to be targeted by cyber criminals or any internal issues will not greatly impact them. How wrong they are, say cyber risk experts.

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Time is up for solo risk accountability model

As the accountability of the CRO increases within an organisation it’s important the CRO and CFO work together closely so the company can gain a better understanding of enterprise risk, says new FM Global research.

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Why ignorance is a risk you can't ignore

Regulation is now saying: it is no longer enough to allow the complexity of global supply chains to prevent you from uncovering Modern Slavery. So how should your business respond?

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Risk managers: 'Be brave' in 2019

At the close of 2018 and on the cusp of 2019, StrategicRISK asked Air Asia’s group head of risk and insurance, Suchitra Narayanan for her thoughts on the year gone and year ahead.

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'Apathetic' risk management is putting your business at risk

In the new age of advanced risk, complacent organisations are allowing themselves to become vulnerable to the disruptive forces of the Fourth Industrial Revolution, says risk thought leader Warren Black.

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When reputation is at stake

An important part of any risk management plan should incorporate crisis management planning should something go wrong, writes the Institute of Risk Management’s Victoria Robinson.

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APAC insured losses in 2018 'not a surprise'

The 2018 average was only slightly more than the annual average since 2011, but the third-highest total during the eight-year period, according to new Willis Re figures.

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2019 cyber security: get the basics right first

StrategicRISK spoke to Cynch Security’s chief wayfinder, Susie Jones, about her reflections on 2018 and what risk managers need to know going into 2019.

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Join forces or perish

The latest World Economic Forum report has called on global leaders and business leaders alike to find a collective path to navigate the risks of 2019.

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Top risk concerns for 2019

On the eve of the release of the World Economic Forum’s Global Risk Report 2019, risk thought leader, Gareth Byatt, looks at some of the major areas of concern for APAC risk managers for the year ahead.

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Time to answer the call

Following damning Royal Commission findings, the financial services industry is being forced to re-examine its culture and risk processes. This is your moment.

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Chubb appoints new APAC deputy head

Glen Browne will be responsible for the general management and business results in the six countries of Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, as well as any future territories in Southeast Asia.

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The life of a risk culture manager

Westpac New Zealand’s senior manager, conduct risk and risk culture, Roberta Prentice tells us what working in risk is really like and how the IRM certification has assisted her career.

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Re-branding ‘risk management’ to ‘success assurance’

Are old-school risk management approaches such as risk matrices and heatmaps preventing it from being seen as driver to business performance? Hans Læssøe principal consultant at AKTUS and former risk manager of The LEGO Group, provides his advice for reinventing risk management

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Special report: Business transformation

Our future is digital – there is no escaping it. Businesses that want to stay in the game must learn to adapt, with help from you, their risk expert. And this involves bolstering defences against the threats this new world will, inevitably, bring.

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What are the limitations of DIC/DIL (Difference in Conditions & Difference in Limits) I should be aware of?

Zurich head of international sales and distribution for APAC, Fernando Denes, explains why local subsidiaries of multinational companies may not have the right insurance coverage.

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StrategicRISK Asia-Pacific (Issue 22)

After a year in the job, our editor Lauren Gow reflects on the year that was 2018 and what the year ahead might have in store for Asia-Pacific risk managers.

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BHSI withdraws from Hong Kong terrorism pool

The firm said this decision benefits all BHSI’s new and existing EC customers for policies incepting or renewing on or after December 1, 2018.

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Marsh appoints APAC leaders post $5.7bn JLT merger

As the Marsh and JLT merger draws to a close, Marsh has announced a number of appointments, effective upon closing of the mega deal.

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Mitigating the unintended consequences of technology

Leesa Soulodre, chief innovation officer,  Inspirit IoT and adjunct faculty member at the Singapore Management University (SMU), argues more focus needs to be placed on establishing ethical principles and guidelines for the creation and deployment of new AI technologies.

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Lloyd's announces trio of APAC appointments

Following an organisational restructure, Iain Ferguson has been appointed regional director of APAC, combining the existing and Greater China regions under one banner.

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Royal Commission heralds “bright future” for risk

Dr Deen Sanders, a Partner at advisory firm Deloitte, believes Australia’s Royal Commission will force corporates to put more emphasis on conduct and culture.

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‘Positive’ risk managers play a central role: StrategicRISK survey

A new survey conducted by StrategicRisk Asia-Pacific and leading risk consultant Gareth Byatt reveals risk managers in Asia are happy with the level of coverage and integration in their business, and believe their organisation actively considers risk in decision-making.

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How Patrick Smith is managing Deliveroo’s intangible risks

Much more than a food delivery service, Deliveroo serves up vast amounts of big data – and fresh new risks – daily. It relies on business resilience leader Patrick Smith to stay creative.

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Strategic risks dominate annual APAC survey

Changing competitive landscape, targeted cyber attacks and failure of critical infrastructure also rated highly both in terms of financial impact and likelihood to occur.

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The new resilient business

Nearly all businesses with international operations and supply chains are ringside for the battle for the next world order. Control Risks principal Dan Tawfik and senior partner Jacqueline Day explain how to prepare for tomorrow.

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Top 5 risks for 2019

Businesses that have developed a new type of resilience will not only be ready for this new world reality, but will also be well- positioned to seize any outsized opportunities that will inevitably emerge in 2019.

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US-China trade rift foretells a new world order emerging in 2019

US-China trade disputes, increasing data regulations and the continuing surge of nationalist politics among top risks for businesses in 2019, says Control Risks

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How to become asset light

Suchitra Narayanan, group head of risk and insurance, AirAsia Berhad, explains why the low-cost airline made the shift from being asset heavy to asset light and how the company’s risk profile has changed as a result

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8 key considerations for CROs now that strategic planning is over

What can a CRO do after the decisions have been made and plans set? The short answer is ‘plenty’ according to Willis Towers Watson’s Mike Wilkinson and Dave Ingram.

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Control Risks CEO Richard Fenning to step down in May

Fenning has been CEO of Control Risks since 2004 and joined the company in 1993. He will remain as a part-time adviser to the company for a year after leaving the CEO role.

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Risks and rewards of a digital revolution

Advancing tech is set to bring us more information and capabilities than ever before. But, says AIG’s Sheri Wilbanks, with great data comes greater liability. We must come together to face this new world of risks.

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APAC's 'deeply integrated' chains at risk in trade wars

Speaking post-G20, experts have warned continued tensions would disrupt global trade, erode the effectiveness of the multilateral international trade regime and dampen growth.

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StrategicRISK Awards 2019

Eight risk management awards are up for grabs

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How risks to intangible assets could harm your business

The rise of the intangible economy could amplify your risks causing long-term loss in revenues and profits, so what can you do about it? Hans Laessoe, principal consultant at AKTUS and former senior director of risk at the LEGO Group, has this advice

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The trying tripartite relationship

In this latest opinion piece, StrategicRISK editor Lauren Gow examines the changing relationship status between corporate risk managers, brokers and insurers.

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How one worm brought the world to its knees

In this latest extract from the Journal, Control Risks director Carla Liedke details how a single worm targeting the Ukranian government managed to bring numerous multinationals to their knees.

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'Remain curious' but cautious about IoT

The Internet of Things (IoT) is here to stay and its influence will only increase say experts. StrategicRISK went to the market to find out what risk managers see ahead and tips for staying ahead of the game.

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2018: Worst bankruptcy

There is never a good type of bankruptcy, but the fall of the UK’s second largest construction giant, Carillion, is a lesson for all risk managers in the dangers of pushing margins to their limits.

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2018: Worst natural disaster

In 2018, a number of large storms have battered the globe leaving a trail of physical and economic destruction behind them. StrategicRISK is looking back on the year by examining the costliest natural disaster.

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2018: Worst new economic risk

As the year winds down, StrategicRISK is looking back on the year that was 2018. We begin with the worst new economic risk and how this affects APAC risk managers.

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‘One of the most complex losses in recent history’

In this latest extract from The Journal, Scott Reichelt from Crawford & Co delves into the tragic events at the Tianjin port in China in 2015.

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Why you should educate yourself before speaking to the Board

Following on from a new Munich Re report on climate change, StrategicRISK spoke to our 2018 Asia-Pacific Risk Manager of the Year and Ayala Corp’s group risk management and sustainability head, Victoria Tan, about why climate change needs to be a top priority in your business.

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Top 5 IoT risks you need to know about now

The Internet of Things (IoT) is altering the risks your business is facing faster than you can keep up. Read these tips to see what is coming and how your business can prepare right now.

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Climate risk could make world 'uninsurable'

Increasing risks to all businesses as nations are failing to act on their current Paris Agreement commitments, with the planet is heading towards a 4°C or higher trajectory.

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WEF survey highlights Asia-Pacific risk

A new report from the World Economic Forum has underlined the key risks facing companies in the Asia-Pacific region over the next decade, with familiar themes such as cyber, energy prices and unemployment the major concerns.

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Breaking up is hard to do

Businesses are largely still in the dark over exactly what Brexit Day will bring next March, but practical plans need to be devised and enacted now. And risk managers must be central in preparing for every eventuality, deal or no deal.

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Regulators apply brakes to APAC M&A deals

Multinationals are looking to balance emerging market growth opportunities with stability in investment returns, particularly with Australian insurance groups, according to a new report from Willis Towers Watson and Mergermarket.

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Nat-cats driving risk strategy changes in APAC

The globe is being battered by an increasing number of natural catastrophes which are forcing risk managers to rethink strategy. Andre Martin, head of innovative risk solutions, Swiss Re Corporate Solutions tells StrategicRISK why you shouldn’t let natural perils disrupt your business.

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Emerging risks to watch in 2019

As we approach the final months of the year, which issues are expected to pose the greatest threat to risk managers in 2019? Leading managers pick the top emerging risks for the year ahead.

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Where should risk management sit in the organisation?

The tricky question of where the risk function should sit within the business is a big challenge for senior management. This latest Knowledge piece, risk thought leader Chris Corless looks at different options for your business.

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​Data analytics to revolutionise risk

Data is likely to play a crucial role in helping corporates identify, quantify, measure, and monitor risk, transforming the way it is presented to boardroom executives. But for many risk managers in the Asia-Pacific region, the data analytics revolution is yet to take off.

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“Not much” risk managers can do to guard against major nat-cats

Following news from RMS that APAC is at risk of numerous 1-in-100-year events, StrategicRISK went to the market to see how this might impact your business.

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To educate or not to educate: That is the question

This opinion piece from StrategicRISK editor, Lauren Gow, examines whether formalising the profession is worth all the effort.

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Risk can become a “profession”: RMIA CEO

Rising demand for risk managers presents an opportunity for the risk industry to develop as a formal profession, according to Scott Ryrie, the CEO of the Risk Management Institution of Australasia, speaking from this year’s RMIA Conference.

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Renewed hope for 'palatable and affordable' insurance with new cyber risk pool

Following news that Singapore will set up the world’s first commercial cyber risk pool, StrategicRISK spoke to StarHub’s Nigel Tay to get his thoughts on what this really means for risk managers in the region.

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Major catastrophe threat to Asia-Pacific

RMS believes the region is vulnerable following several disasters this year, such as the Palu earthquake in Indonesia and Typhoon Jebi hitting Japan.

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A basic principle most people don’t understand about risk

In this new opinion piece renowned author, blogger and retired chief audit executive, Norman Marks explains why you may have been making a fundamental error in risk management

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Live blog: PARIMA Tokyo

StrategicRISK is reporting live from PARIMA’s annual risk management conference in Tokyo

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Counterfeit risk far from sweet

As counterfeit risk becomes more difficult to detect, risk managers face a difficult challenge to mitigate risk. How is counterfeit risk evolving? What lessons can companies learn from the honey scandal and similar cases? And what is the best way to mitigate counterfeit risk?

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Business Interruption: Beyond the physical

In an extract from our latest edition of The Journal Stanley Cochrane, head of property, Asia Pacific, Swiss Re Corporate Solutions explores how to manage the risk of non-physical damage in a business interruption policy.

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Global initiatives drive climate change collaboration

The Asia-Pacific risk industry is rethinking its approach to climate change, driven by global initiatives encouraging climate-related financial disclosure and industry collaboration.

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Technology increases risk threshold ‘exponentially’

Businesses who enhance customer experience through technology also dramatically increase their risk of a cyber attack, experts warn.

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Tokio Marine Kiln shuts Hong Kong office

Insurer said the decision was made after re-assessing the ongoing, challenging market for the engineering, marine cargo and marine liability lines written out of Hong Kong which have made the cost of maintaining the office unsustainable.

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MSIG appoints new Asia CRO

Based in Singapore, William Song is now CRO of MSIG Holdings Asia responsible for risk management across the region including ASEAN, Hong Kong, Australia and New Zealand.

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Loss in brand equity, data theft, and lack of technological innovation, named top three digital transformation risks

During a live poll at StrategicRISK’s Knowledge Singapore event, risk managers mapped out the effectiveness of controls in managing digital transformation risk.

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Become a solider of risk

The military is good in a crisis, or so accepted wisdom has it. So, if your business is facing a critical period, Oliver Wyman partner David Gillespie asks who better to take lessons from than those who have been on the real front line?

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Australian Royal Commission an “opportunity” for risk profession

The fallout from Australia’s Banking Royal Commission could provide a “launch pad” for the country’s risk profession as companies look to improve their internal processes, according to industry analysts.

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Asian attacks lead to rise in cyber policies

The growing cyber threat in Southeast Asia has led to a surge in cyber insurance policies and claims across the region say experts.

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'Communication is key' to CRO and broker relationship

Ahead of the Brokerslink conference in Hong Kong, StrategicRISK caught up with Jacqueline Legrand, chief executive officer to hear her thoughts on the changing nature of relationships between brokers and risk managers.

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AGCS targets ART expansion with new set-up and leadership

In addition, from January 1, 2019, Ciara Brady joins AGCS from Swiss Re as global head of liability.

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Should operational risk managers be in the first line of defence?

The ideas behind this would be that ‘risks are managed where they occur’. It’s a complicated question, but an uncomplicated answer – in short, no, according to risk thought leader Chris Corless.

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Political risk levels up 60% since 2017

A new survey from Willis Towers Watson (WTW) and Oxford Analytica found nearly 70% of global business leaders stated they had scaled back operations in a country as a result of political risk concerns or losses.

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The war to end all trade

Political risk tensions are rising as the US and China trade war shifts up another gear. StrategicRISK examines why this is causing horizon-scanning headaches for risk managers in the APAC region.

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Malaysian managers fear regulatory risk

The industry’s most pressing concerns were revealed at StrategicRISK/PARIMA’s Risk Forum Malaysia where more than 100 risk managers shared their views at the September event.

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Lazy hazy Singapore days could be a risk of the past

Swiss Re Corporate Solutions has launched HazeShield, a standalone haze insurance solution for businesses operating in Singapore.

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AXA XL offers new data-driven supply chain tool

Risk managers will now be able to understand the quality of the conditions that sensitive or perishable products are kept in from the first mile to the last.

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Why there are no winners in a trade war

Trade balances between the US and China are largely unaffected so far by the skirmishes but the world is bracing for the next round of shots fired. StrategicRISK and KPMG look at how the first signs of the trade wars are influencing business activities and creating headaches for risk managers.

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The Journal, 2nd edition: Business interruption

StrategicRISK and Swiss Re Corporate Solutions launch the second edition of The Journal examining business interruption risk.

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Enterprise Risk Management – have we been doing it right all along?

Chief risk officer, Michael Doyle, argues ERM has in fact stood the test of time and has made a significant contribution to the development of risk management as a profession.

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StrategicRISK Asia-Pacific (Issue 21)

Turns out cognitive bias is making a nonsense of our decision-making skills – and that extends to who we hire for key roles in business says Lauren Gow in the latest edition of StrategicRISK

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​How do you justify investment in more risk resources when the results are hard to measure?

Mark Wilson, director, 20-20 Risk Advisory & Insights examines whether risk can be linked to ROI

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13 common mistakes when building global crisis readiness programs

Regardless of the sector, size or the geographic location, there are a number of common mistakes that organisations make when establishing global readiness programs. Control Risks senior partner, Bill Udell and associate director, Aaron Schwirian explain how you can avoid them

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Mega-mergers put 'needs of their clients' at risk

As news of the latest insurance mega-merger between Marsh and JLT begins to settle, StrategicRISK spoke to PARIMA chairman Franck Baron to get his thoughts on what this means for risk managers.

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What to do when food bites back

Australia’s fruit industry is currently under the dark cloud of malicious tampering. StrategicRISK spoke to The Recall Institute director Steven Hather to find out about prevention and cure in food manufacturing risk

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Marsh acquires JLT in $5.6b deal

Following completion of the transaction, Dominic Burke, group chief executive of JLT, will join MMC as vice chairman and serve as a member of MMC’s executive committee.

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Managing crises in the modern age

Crises have always occurred, but we are now seeing an increase in their type, complexity and frequency. However, there is no need for panic just yet, Control Risks principal Matthew Oyston explains.

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The rising risk of robots

What chance do we have of ‘raging against the machine’ if we are trained to act like robots?

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Why strategic risks are not operational risks viewed strategically

Chief risk officer, Michael Doyle tells StrategicRISK why businesses need to be very clear on where strategic risk ends and operational risk begins.

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How to manage risk ownership to ensure accountability without operating in silos

Risk thought leader Chris Corless looks at the value of defining risk owners and whether or not it is crucial to the success of your risk program.

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FM Global launches new cyber readiness assessment

New offering helps FM Global clients measure their overall cyber security resilience, taking into account inherent cyber risk, mitigating security controls and ability to respond to and recover from a cyber incident.

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'APAC is a strategic growth region' says Chubb head

Following news that Chubb, the world’s largest P&C insurer, has set up a major shop front in APAC, StrategicRISK spoke exclusively to Jason Keen, head of property & casualty, Asia Pacific to find out what this means for the region’s risk managers.

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Time to kill 3LoD?

The Risk Culture Builder’s Horst Simon tells StrategicRISK why it might be time to #Kill3LoD in order to get to the next level of risk management.

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Top three emerging risks corporates need to know about

Speaking exclusively to StrategicRISK, Swiss Re’s head of sustainability, emerging and political risk management, Martin Weymann warns risk managers of the more prominent threats they need to beware of and how to begin preparing for them.

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Ever wondered how airports keep millions of passengers safe?

Managing Fraport AG’s vast insurance operations, with its sky-high risks, is not a job for the faint of heart.  Risk manager, Hans Joerg Schill, tells StrategicRISK what it’s like to risk-manage Germany’s largest aviation hub

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Winning the war on terror

Michael Pennell PSM, chief underwriting officer, Australian Reinsurance Pool Corporation spoke at RIMS about new developments in the war on terrorism

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D&O: A market in freefall

Make no mistake - the future of Side C coverage in Australia is dire. And without the safety net it gives, Australian firms are struggling to attract the top talent for their boards. Is there anything risk managers can do to protect their businesses?

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Live from RIMS Australasia

StrategicRISK is reporting live from RIMS Australasia’s annual conference in Sydney

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Sector View: Food and beverages

As the Australian food and industry thrives, the heat is on to manage its risks. We look to the lab where solutions are being developed to better handle contamination and consider a more holistic approach to coverage that goes far beyond simple product recall insurance.

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Time to see other people?

Australia’s monogamous relationship with Chinese supply lines could be unwise. But with the new risks other Asia-Pacific countries could bring, it may feel like it’s better the devil you know…

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Time to prepare your Modern Slavery report

KPMG Banarra’s Human Rights and Social Impact Services team, Richard Poole, partner, and Meg Brodie, associate director, discuss how you can meaningfully engage suppliers and build their capacity to meet new expectations around human rights risk.

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King of the road

Transurban’s troubleshooting guru Karl Davey exudes an air of calm and flexibility that helps him navigate all of risk’s diversions. With him at the helm, we’re all a little safer.

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Do traditional risk registers and risk matrices still remain relevant in project risk management?

Hans Læssøe, principal consultant at AKTUS and former risk manager of The LEGO Group examines whether traditional risk management tools still have a relevant place in project risk management.

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Chubb signals major APAC move with new hires and division

The world’s largest listed P&C insurer, Chubb will establish of a major accounts division in the Asia Pacific region, a dedicated premium service encompassing underwriting, risk engineering and claims for the region’s large, global and multi-national clients and business partners.

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Overcoming cognitive bias in senior executives

If we accept there is a cognitive bias in decision making, how can we as risk professionals account for this and help our senior executive make better bias-free decisions? Risk Academy’s Alex Sidorenko discusses

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Can your supply chain withstand a trade war?

Trade wars continue to threaten global economies causing havoc for anyone working in imports and exports of goods. Australia is at particular risk says, Control Risks director, Martin Baghdadi, who tells StrategicRISK why risk managers need to focus their attention on this issue without delay.

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QBE's new climate risk tool is out of this world

QBE forms a partnership with climate prediction and risk management firm, Jupiter.

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The sickening risk of food product recall

Aldi, Woolworths and IGA have had to recall thousands of frozen foods after harmful bacteria was found in products they sold. Such recalls can result in tumbling share prices or total collapse. Here’s what can be done to minimise the threats

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The real threat behind fake news

So-called ‘alternative facts’ in today’s online world reach many quickly and can ruin the reputations of those in the firing line. Risk managers must be primed to shut down bad buzz before it has a chance to spread.

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Learn from Cricket Australia's mistakes

Ahead of the RIMS conference in Sydney 4-5 September and Auckland on 7 September, StrategicRISK spoke with keynote speaker, Cricket Australia head of team performance Pat Howard to talk about balancing risk-taking with team performance.

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RIMS Conference 2018: Why you need to attend

As we hit the downhill run to RIMS Sydney conference on 4-5 September and Auckland 7 September, StrategicRISK sat down with the RIMS board to find out why you shouldn’t miss this year’s conference.

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Part three: Building resilience into a modern organisation

In the final part of our series, risk specialist Warren Black explains how organsations can embed a systemic sense of resilience into organsations.

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Part two: Building resilience into modern organisations

Organisational risk frameworks aspire to help their organisations become intelligently responsive to the highly disruptive forces which emerge out of complex working systems, but what does this mean for risk managers? Risk specialist, Warren Black explains.

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Part one: Building resilience into modern organisations

In the first of our three-part series, risk specialist Warren Black tells us why risk management in the modern age is harder than at any other time in history.

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Singapore government says raise cyber security now

Cyber Security Agency (CSA) to advise owners of critical information infrastructure (CII) on what they can do to further beef up their defence.

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What would be the ideal indicator/parameter to measure your ERM maturity?

Many organisations look for some metric of maturity of their ERM program to show how well they are performing, and potentially where and how they can improve, Hans Læssøe, principal consultant at AKTUS and former risk manager of Lego explains.

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Are heat maps a blessing or a curse?

Ordinary risk heat maps are of limited help for management to steer the company. We need new concepts says Chris Schwager, managing director SRI Strategic Risk Institute

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Trade wars put APAC at risk

The rise in protectionist trade measures from the US and countermeasures from the People’s Republic of China have significantly raised the risk stakes in Asia, says new report.

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Kroll boosts APAC security with new Singapore head

Simon Ashenden has expertise in helping clients manage issues with fraud and compliance, cyber security, brand protection and counterfeiting.

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To ERM or not to ERM?

Is ERM valuable?  This was the theme of an online discussion hosted by Alex Sidorenko and Hans Læssøe.  StrategicRISK caught up with both risk practitioners ahead of the debate to find out more.

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StrategicRISK launches 'The Knowledge'

StrategicRISK, in association with Zurich, has launched its boldest product yet - The Knowledge - and it is something no risk manager should miss.

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Managing enterprise risk when exploring Asian opportunities

When a business fails to adequately protect itself against events that may stop or compromise its operations, they could be putting themselves at risk of major disruption says FM Global’s operations manager, Lyndon Broad.

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Geopolitical risk rise as economic volatility hits APAC

Financial market crashes, interstate conflict and cyber-crime now threaten almost half (46%) of APAC cities’ economic output (GDP@Risk), according to the Lloyd’s.

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The dark side of digital connectivity

Research throughout the world is pointing to Asia-Pacific as both the source and the victim of cyber-crime. Willis Towers Watson’s regional associate director, cyber, Jessica Wright tells StrategicRISK why a lack of awareness could prove extremely costly for businesses in the region.

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One giant leap for Australian kind

Australia is set to join all other OECD nations with its own space program. What could possibly go wrong? KPMG partner, defence, Mike Kalms says important lessons should be learned from the launch UK Space Agency before we take this next risky step into orbit.

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New cyclone model hits Australia

RMS’s V18 incorporates new capabilities for both the cyclone and earthquake models, including vulnerability functions for Industrial Facilities and Builders Risk, Marine Cargo and Specie risks.

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IRM Newsletter: Everything you need to know

The underlying theme of this newsletter is ’integrated risk management and an integrated approach to the sharing of practices’.

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Managing construction delay risks

In complex, interconnected construction projects, delays can grow exponentially but the right mitigation strategies are out there if you know where to look.

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Digital transformation: Future proof your business now

Digital transformation is changing every aspect of the business landscape at an exponential pace, bringing the full force of innovation and disruption to all sectors and markets says Allied World’s senior vice president, Hong Kong country manager & head of general casualty, Asia Pacific, Jotu Shohtoku.

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Slavery risk rises in SE Asia as job losses hit home

More than 55% of jobs in SE Asia’s key manufacturing hubs under threat with slavery and labour abuses in SE Asia set to spiral over next two decades as automation consumes job market

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New Australian quake model set to launch

The updated model, developed by Dr Valentina Koschatzky with input from Risk Frontiers’ Chief Geoscientist, Dr Paul Somerville, incorporates the latest data from Geoscience Australia’s recent revision of the Australian Earthquake Catalogue, which has more than halved the rate of earthquakes exceeding 4.5 in magnitude.

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SR Awards 2018: APAC Insurer Innovation

Winner: Swiss Re Corporate Solutions

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SR Awards 2018: Risk Training Programme of the Year

Winner: Swiss Re Corporate Solutions

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SR Awards 2018: ERM Programme of the Year

Winner: Manila Water Company

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SR Awards 2018: Risk Manager of the Year

Victoria Tan’s advocacy of risk management emanates from an unshakeable belief that risk management is a fundamental aspect of effective corporate governance and pivotal to a company’s sustainability.

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“Risk? What risk?” How do you get buy in from risk owners who want to tell you they have no problems?

Seasoned risk and internal audit leader Chris Corless discusses the road block most risk managers have come up against—the resistant risk owner.

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Lloyd's CEO to step down in 2019

Inga Beale defied tradition as the first female chief executive when she joined Lloyd’s in January 2014.

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A harsh reality

Once considered the domain of IT teams, cyber risk is now broadly acknowledged as the most pressing of enterprise concerns, says Murray Wood, head of financial specialties, Asia and Andrew Mahony, regional director - financial services & professions group.

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The changing face of terrorism risk

Loss of attraction and non-damage business interruption protections are increasingly in demand from insurers, while companies are dusting off response policies and evacuation procedures against evolving terror threats.

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Australia’s first and biggest wind risk hedge: the Infigen Energy case study

Wind risk hedging can protect vital revenue streams when the wind doesn’t blow. Here’s how one Australian energy company did it.

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How will you manage the Modern Slavery risk?

Richard Boele, partner, KPMG Banarra, Human Rights and Social Impact Services and Meg Brodie, associate director, KPMG Banarra, Human Rights and Social Impact Services discuss the impact of Modern Slavery legislation

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New weather risk tool targets real estate and hospitality sector

Bermuda-based Sompo Internationa has developed a new suite of innovative weather-driven risk management products tailored for the real estate and hospitality sectors.

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Financial crises: The Perils of Pauline

Wars and financial crises are the two big threats most capable of wiping out economic growth, according to Martin Wolf, chief economics commentator, Financial Times

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Bright young star

Risk managers all love a nice long risk document, right? Not so StarHub’s Nigel Tay. Meet the man bringing on-the-ground collaboration, agile process and even fun to corporate risk management. Trust us, you’ll like him.

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Top risk priorities for the Ayala conglomerate

StrategicRISK caught up with Victoria Tan, head of risk management and sustainability at Philippine conglomerate Ayala Corporation, at Risk Forum APAC 2018 in Singapore to find out what makes her tick

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Don't be fooled by a name

Credit insurance is much more than an insurance, it is a true operational risk management instrument, former global chief risk officer of groupm, part of WPP, François de Hennin explains.

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APAC hit by record number of terrorist attacks

Comparing Islamist terror threat with the picture before ISIS emerged,  Control Risks found the number of attacks in 2013 – 2,676 – to have almost doubled to 5,276 in the year to the end of April 2018.

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Take a balanced approach to risk management

Hans Læssøe, principal consultant at AKTUS and former risk manager of Lego tells StrategicRISK how the effect of an ever-increasing speed of change adds and alters the demands for risk management – both in terms of what to do, and how to do it.

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Don’t rely on GL to cover environmental risks, report warns

Environmental risks have grown as the world gets smaller and more interconnected, insurer Chubb and law firm Clyde & Co argue, in a new environmental risk report

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Four future risk management trends you need to know about today

StrategicRISK spoke to Risk Academy chief executive officer, Alex Sidorenko, for some crystal ball gazing about what the future of risk managment might look like.

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2018: the year of political risk

Geopolitical and economic uncertainty is fuelling the growing uptake of political risk covers. By taking a more proactive, analytic approach, corporations can elevate this coverage from a risk transfer transaction into a strategic tool. By Antony Ireland

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Cyber insurance should be a partnership

Speaking to StrategicRISK at the AIRMIC conference, Airmic’s board members and insurance director at BT Group, Tracey Skinner said cyber risk coverage ought to be considered as a partnership between insurer, broker and insured.

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Reputational threat key supply chain risk

StrategicRISK is at the AIRMIC conference this week, where Europe editor David Benyon had a chance to sit down with Paul Goulding, Airmic board member and head of insurance at Heathrow Airport to find out what lessons risk managers can learn about threats to reputation in the increasingly dangerous within ...

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No premiums, no play

Before the 2018 World Cup kick-off, one essential item needs to be in position – and it’s not the ball. Allianz Global Corporate & Specialty (AGCS) head of entertainment international, Michael Furtschegger tells StrategicRISK where the biggest risks lay in the upcoming event

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MS Amlin hires triple threat trio for Singapore roles

Global (re)insurer pushes for increased market domination as it seeks to further strengthen its ties to the Asia Pacific region

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Cyber insurance premiums set to soar by 2021

A new Aon report shows a broad shift of companies putting a greater value on intangible assets, such as cyber and intellectual property

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Political risk rises on Indonesian election eve

Indonesia’s local polls on 27 June will command little international media heed, but will have significant implications for foreign business, risk consultancy Steve Vickers and Associates (SVA) has warned

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BHSI appoints new Australasia president

Mark Lingafelter was most recently Chief Underwriting Officer, Asia Pacific for QBE Insurance before moving to Berkshire Hathaway Specialty Insurance

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Risk management of a disaster: Space Shuttle Columbia

How do you manage a tradegy? Former NASA risk manager, Mike Lutomski, spoke to StrategicRISK about the lessons he learnt from the Space Shuttle Columbia disaster in 2003

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Three challenges for Malaysia Airlines’ risk manager

Badrul Hisham Yusoff, chief risk officer, Malaysia Airlines, spoke to StrategicRISK at the Risk Forum APAC 2018 conference

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XL Catlin appoints ex-WTW director to new Singapore role

XL Catlin chief executive, Asia Pacific, Craig Langham, said growth in competitive Asian market means”the right expertise” is required to grow their book of business

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Are you ready for Industrial Revolution 4.0?

Speaking at PARIMA’s Bangkok conference, chairman Franck Baron spoke at length about his views on the rise of artificial intelligence, digitisation and how risk managers can prepare for the fourth industrial revolution.

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6 tips for risk managers on using technology to manage risk

Marsh’s director for emerging technologies, Leslie Chacko, gives his top tips for how risk manager can use technology innovations to better connect them to their business

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AI helps businesses prioritise high value tasks

Marsh director, emerging technologies, Leslie Chacko, told delegates at PARIMA’s Bangkok conference it is time to wholeheartedly embrace artificial intelligence but beware of the risks

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C-suite panel: Take care of the business as if you don’t have insurance

Aon Thailand CEO Andrew Bentley, David Johnson, Regional Senior Vice President, Regional Manager - Asia Operations, FM Global and Brian Delaney, Corporate Chief Financial Officer - Minor International PCL joined PARIMA board member, Steve Tunstall to offer delegates a view of risk management from c-suite perspectives

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'Spectacular division' in managing AI risk says PARIMA chairman

PARIMA chairman, Franck Baron told around 250 delegates it is ’happening to all of us and we need to learn to manage it’

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'Embrace ERM and 3 LoD' to manage cyber risk says Thailand OIC deputy

Opening PARIMA’s Bangkok conference Chuchatr Pramoolpol, Deputy Secretary-General, Office of Insurance Commission said cyber risk has come to the fore in recent years in Thailand

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PARIMA launches first Bangkok conference

Ahead of PARIMA’s first Bangkok conference, StrategicRISK spoke to a couple of board members to get their thoughts what Thailand’s risk management community can expect

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Call for 'coordinated and holistic approach' to nat cats in APAC

In the wake of the UN’s warning that natutral catastrophes bills in APAC could top $160bn by 2030, StrategicRISK spoke to AIG’s AIG global innovation lead for client services, Sheri Wilbanks about what risk managers in the region can do to try to stay ahead of this risk

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CRO interview with Hilary Weaver

Hilary Weaver, chief risk officer at Lloyd’s, spoke with StrategicRISK about major risk management and compliance challenges facing her business in 2018

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Beware the Gray Rhino, not just the Black Swan

IKEA China’s risk management and compliance director and RIMS board member Robert Zhang spoke to StrategicRISK about the fast-changing risk landscape

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Call to action from BCI to collaborate on resilience

The BCI seeks industry collaboration for its resilience manifesto, as part of its Business Continuity Awareness Week

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Risk Forum APAC 2018 in photos

More than 230 risk managers attended StrategicRISK/PARIMA’s Singapore conference on 8 May 2018

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Video: Find out who won big at the Asia-Pacific Risk Management Awards 2018

StrategicRISK rewarded excellence in Asia’s risk management community at a glitzy gala dinner in Singapore’s Grand Hyatt last night

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Risk Forum APAC: Appetite for reconstruction – StarHub

Ryan Tan at Singaporean telco StarHub pushes a risk management philosophy about creating an appetite for change

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Risk management in space: Lutomski opens Risk Forum APAC

Space is the least forgiving environment for risk management mistakes, former NASA risk manager Mike Lutomski told Risk Forum APAC 2018

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Virtual IRM APAC Regional Interest Group on the horizon

The Institute of Risk Management (IRM) new APAC global ambassador, Gareth Byatt, speaks exclusively with StrategicRISK about his plans for the region.

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Half of APAC firms at risk of third-party over-reliance, survey

A recent Deloitte survey shows 57% of APAC respondents perceive some or a substantial increase in inherent risks related to third-parties.

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IRM expands global grasp with new ambassador for APAC

Risk Insight Consulting principal consultant, and regular StrategicRISK contributor, Gareth Byatt has been appointed a new Global Ambassador for Australia and the Asia Pacific region.

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Nat cats could cost APAC region $160bn per year by 2030, UN warns

Speaking at an event on financing disaster risk reduction, the United Nations development arm in the region warned greater innovation in disaster risk financing is desperately needed.

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Three key messages from our Hong Kong Risk Forum

StrategicRISK Asia Pacific editor Lauren Gow shares her thoughts from the recent Hong Kong Risk Forum where everything from Google insurance to natural catastrophe risks was discussed

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Tear up your risk appetite document now

StrategicRISK Asia Pacific editor, Lauren Gow argues there is rumbling of dissent about the actual usefulness of this document to management

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How do you roll with the changes?

In these times of transformative change, it is possible to fight the volatility – and it starts with knowing your business, your customers, and your competition, better.

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Impossible to dodge

Times are changing fast and that means new risks on top of old risks. So how do you stay one step ahead when market disrupters are bowling through every industry?

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What's hot at RIMS 2018?

Susan Hiteshew, a board member at RIMS, tells StrategicRISK which risks are big focuses at the RIMS 2018 event in San Antonio

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RIMS 2018: Disruptive tech risks not well understood – Marsh study

Organisations are exploring the benefits of the Internet of Things, artificial intelligence, and Blockchain, but risk awareness is not keeping pace

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RIMS 2018: Google using chatbots for risk management tasks

Director for business risk and insurance at Google addresses an educational session at RIMS 2018

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Beazley replaces APAC head

Lucien Mounier will be based in Singapore, Beazley’s hub in the Asia Pacific region, and will be responsible for developing the group’s business across the region, working closely with Beazley Singapore’s principal officer, Byran Lee.

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Philippines at risk of becoming terrorist safe haven

Experts have warned SE Asia is at particular risk of becoming a safe haven for returning IS terror trainees.

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Global political tensions lead to increased terror risk in Asia

Islamic State poses a sustained threat to Singapore and Southeast Asia, while a number of war zones globally are serving as incubators for terrorism in the region

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There is a better way of managing risk

As we begin the countdown to our Risk Forum in Hong Kong on April 19, StrategicRISK spoke to ever-controversial risk commentator, Alex Sidorenko, to give us a little preview of what is to come next week

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Unconscious bias – the hidden risk you’re not yet managing

It distorts our perception of risk and causes us to be over-reliant on initial data, to disregard information that contradicts our existing beliefs, and engage in potentially damaging group think. StratgeicRISK spoke to The Progress Partnership director, Katherine Bryant, to hear her insight into this emerging risk

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Social media meltdown: how to respond to a crisis

Reputational risk has been sharpened by social media, making crisis response even more vital. StrategicRISK European editor, David Benyon, reports

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StrategicRISK Asia-Pacific edition (Issue 19)

In the latest edition of StrategicRISK we explore global regulation updates and what they mean for risk managers, delve into the brand new world of neobanking and explore whether it is time to rip up your risk appetite document

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5 minutes with: Simon Weaver

StrategicRISK spoke to Willis Towers Watson’s new leader of Corporate Risk & Broking (CRB) for Asia and Australasia, Simon Weaver, to discuss expansion plans and how he aims to better engage with Asia Pacific risk managers in his new role

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WTW creates senior risk role for APAC expansion

The broking giant has confirmed it has created a new role to maximise global growth opportunities and utilise local market potential

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PARIMA adds three to growing board

New faces from Ashurt, Mitsubishi and Toyota set to join other heavyweight board members

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Finalists revealed

Who is in the running at the second annual Asia-Pacific risk management awards?

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Drone near misses rising 'exponentially'

Undoubtedly, the number of Airprox reports – near miss collisions in the air - involving suspected drone incidents is increasing exponentially across the globe but should risk managers be concerned?

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Does risk management need a gender balance?

To mark International Women’s Day, we asked three risk managers to share their experiences and thoughts on whether seeking gender balance and diversity is important for the risk management industry

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Argo hires ex-QBE head for Asia role

Veronica Grigg joins the Lloyd’s team from QBE where she led teams across Europe, US, Latin America and Asia Pacific.

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PARIMA chairman dubs AXA/XL Group merger 'big is beautiful'

Speaking exclusively with StrategicRISK, Franck Baron, risk manager of International SOS and chairman of PARIMA, says the merger is a sign that more M&A could be on the horizon

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Average insurance prices in Australia jumped 8.2% in 2017

Average pricing decreased in Asia in Q4 2017; albeit at slower rates than what was observed in Q3

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AXA agrees to buy XL Group

AXA says US$15bn (AU$19bn) deal will propel it to number one in global P&C commercial, subject to regulatory and shareholder approval

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WTO chief issues trade risk warning

Comments echo WEF report which also warned risk managers that weakened political commitment to globalisation could cripple global supply chains and reduce economic activity

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Miller continues APAC push with new hire

The broker has poached producer broker, Julian Coates, from rival Aon as it pushes forward with its plans to expand heavily into the region

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Conduct risk catches eye of global regulators

Fewer than half of CROs surveyed by accountancy firm, Ernst and Young (EY) said their firm had a developed a clear risk conduct framework.

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New Singapore risk centre promises to 'transform risk'

Deloitte to invest US$15m  over three year period, in collaboration with the Singapore Economic Development Board

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APAC businesses warned to expect huge fines for data breaches

From 25 May 2018, Australasian businesses of any size may need to comply with the GDPR if they have an establishment in the EU, if they offer goods and services in the EU, or if they monitor the behaviours of individuals in the EU.

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Fewer than half of businesses are aware of NDB legislation

Today marks the beginning of strict data breach legislation in Australia but a recent survey has found only half of Australian businesses have a risk management strategy to deal with cybersecurity

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Three lines of defence model now used in 95% of APAC insurers

Majority of CROs identified that the greatest challenge with the three-LoD model is delineating the roles between the first and second line

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4 lessons risk managers can learn from banks

Bank RMs say it is time to wean business off people-dependent risk management

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Singapore Cybersecurity Bill: are you prepared?

Beazley’s regional manager, financial lines, Nicholas Tey tells StrategicRISK why risk managers need to start preparing to implement this upcoming legislation now

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Airmic welcomes ISO31000 update

The new version is shorter than its predecessor and has been updated to take into account changes to the way business works

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Fraud risk halved in 2017 but professional fraud on the rise

60% of frauds committed against commercial businesses were perpetrated by ’insiders’ according to new KMPG report

Storm

New AIR hire aims to increase nat cat resilience in SE Asia

According to a recent report released by AIR, global economic losses from catastrophes average roughly US$345 billion annually, of which less than 20% are insured

Tech

Prioritise cyber as a business enabler

KPMG partner, security services, Gordon Archibald tells StrategicRISK why cybersecurity is less about risk elimination and more about achieving the right balance of security and innovation

Phil xue

XL Catlin hires Guy Carp head for China CEO role

Bermuda-based firm said the role will combine CEO and country manager duties

Gordon archibald

Top 7 cyber risks for Australia in 2018

Fresh from the KPMG Newsroom, partner, security services, Gordon Archibald tells risk managers what his Top 7 predictions for cybersecurity risks are in Australia in 2018

Chess

Geopolitical storms signal new norm for risk managers

Risk managers could be facing at least 5-10 years of geopolitical instability so it is time to adjust to this ’new norm’, says PARIMA chairman Franck Baron

Saman bandara

IRM launches major push into Asia Pac with new appointment

IRM said it only has a handful of members in SE Asia but that the organisation is “keen to develop relationships in the region”.

clock

Wake-up call: Spreadsheets remain top risk management tool

Survey findings deduced that spreadsheets (76%) are the most commonly used tool among all technologies, closely followed by risk assessment (52%)

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Risk managers battling budget constraints for tech upgrades

Two-thirds of respondents in a new joint survey between PARIMA and Marsh shows that risk managers are facing significant obstacles when seeking to upgrade a firm’s technology and security

Bitcoin

How do you regulate an unpredictable unknown?

Cryptocurrency is the screaming toddler currently barrelling through financial markets causing mischief and misadventure where it falls. It is unpredictable, largely unregulated and there is only a short history of data for risk managers to work with. The Institute of Risk Management’s (IRM) expert on the matter, Alex Larsen, ...

Hire

Senior hires signal Miller’s commitment to growth in Asia Pac

The broker has strengthened its Singapore team with hires in political and credit risks, as well as the P&C and energy

Data breach

Asian firms ‘lack focus’ on cyber risk

The intangibility of the risk is also a pressure point for Asian risk managers who are facing a threat to their firms which is difficult to pinpoint

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Australian companies still failing to heed data warnings

The countdown is on for the 22 February deadline for the Australia’s new Notifiable Data Breaches (NDB) scheme and firms are being warned they must comply or face huge penalties

neil thomas1

Common claims pitfalls - how to minimise and overcome them

Willis Towers Watson, head of claims, Asia, Neil Thomas, shares his top tips with StrategicRISK on how risk managers can better manage a claims crisis

Motor rates

Insurance 'more affordable and available' in 2018, predicts WTW

According to Willis Towers Watson (WTW) figures, 2017 was a record-setting year for the ILS market as non-life ILS issuance continued to increase and ended the year close to $10 billion

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Nitrogen boost decreases fire risk says new research

Oxygen reduction systems (ORS) stream nitrogen into the spaces, lowering the oxygen level to reduce fire risk, according to the research from commercial and industrial property insurer, FM Global

Geoff lambrou

Top 5 things risk managers in Asia need to know right now

Geoffrey Lambrou, Aon chief executive officer, Specialty Broking & Operational Excellence, Asia speaks exclusively with Strategic Risk Asia-Pacific to highlight key takeaways for risk managers from Aon’s Asia Market Review 2018.

Awards email header

Last week to enter: StrategicRISK Awards

StrategicRISK’s Asia-Pacific Awards recognise the achievements of regional risk/insurance managers, their brokers, insurers and advisers. Enter free of charge by 3 February 2018.

Environment

Environment, cyber biggest flash points - WEF risk report

The risks around us are evolving faster than our reactions, the World Economic Forum warns

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Business interruption tops Allianz risk ranking 2018

Cyber incidents and new technologies closely followed business interruption in the key markets of Japan, China and Australia

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Cunningham Lindsey appoints Singapore CEO

David Seng will move to CEO whilst current CEO Robert Williams moves to Major and Complex regional role

Tech

Geo-political and cyber top risks in 2018

Risk managers are facing geo-political fragility that has the potential to trigger shockwaves to global stability and business confidence, says Control Risks

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Brace yourselves: 2018 will be challenging

Insurers are likely to take a more aggressive approach to loss affected or catastrophe exposed risks, as well as risks that lack adequate risk controls

Guide

Leveraging the value of risk standards and guidelines

Risk Insight Consulting’s Gareth Byatt explains why managing complex risks requires robust frameworks and a mindset of thinking dynamically

Swinton jobs

Zurich snaps up all of ANZ's life business

The deal is set to make Zurich Australia’s leading retail life insurer.

Climate Change Smoke

Nowhere to hide from climate risk

Climate Action 100+ initiative, launched in Paris today, will target 100 global companies responsible for an estimated 15% of global emissions

Toy Train Wreck

Recalls rise sharply in Asia

New research from Allianz Global Corporate & Specialty (AGCS) shows Chinese products accounted for over three times as many recall cases in the US as US products in 2015

Australia

Allied World appoints country manager for Australia

Iain McLeod will be responsible for managing day-to-day operations

Pills/medicine

Antibacterial time bomb threatens to explode

New UN report warns unprecedented crisis of drug-resistant germs brewing in the natural environment

Notes

Human failings that can lead to disaster

More than 90% of all cyber security breaches stem from human error. So, are organisations doing enough to train and educate their staff?

Saurabh verma

A buoyant attitude

Saurabh Verma, senior vice president, chief insurance officer at Reliance Industries, tells us about spooky hotels, working in a goldmine, a wine-stained shirt, falling out of a canoe and wishing he could swim

Tech

Slow rollout for emerging tech – PARIMA survey

Emerging technology is a priority for risk management, but is being implemented slowly, according to a study from PARIMA, Marsh and the Asia Pacific Risk Centre

Jakarta

AGCS expands in China, Indonesia

The commercial lines arm of Allianz has moved to boost its insurance presence in Beijing and Jakarta

Ogden hit

Australia bucks global rate decrease trend

Average rates also decreased in Asia in the third quarter but at less pronounced levels than observed in the previous quarter

Cyber risk

Don't ignore human factor in cyber risk

Willis Towers Watson figures show 75% of US firms have a cyber policy but this figure is significantly lower in Asia

Swiss re corporate solutions didier belot

Swiss Re Corporate Solutions appoints South East Asia head

Didier Bélot will be leading the firm’s commercial insurance programmes

Card insurer CPP

Low-cost, low-violence tech theft risk grows

Forged personal or corporate identities and forged bills are supported by social engineering or a data hack to increase their plausibility

Travel claims

When one is tired of London, StrategicRISK beckons

Our new StrategicRISK Asia Pacific editor, Lauren Gow, tells us why poet Samuel Johnson was wrong and how she wants you to get in touch

Socialmedia

Crisis management and the digital age

Chris Twyford, director of security, Asia, Middle East and Africa (AMEA) at Mondelēz International, on managing a crisis in the internet era

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Collaboration and Interaction are key says PARIMA chair

Higher levels of sophistication needed to link insurance to risk management functions

Frontcover.jpg

StrategicRISK Asia Pacific edition (Issue 17)

In latest edition of StrategicRISK we examine data security, explore the risks in high-tech production and meet Gordon Song - StrategicRISK’s Asia-Pacific Risk Manager of the Year.

Specialreporthightech

Sector view: High-tech production

Asia’s high-tech production industry is huge, sophisticated and growing but carries a myriad of risks, from devastating earthquakes to highway robbery

Road ahead

Views from the Parima board

As the regional risk community gathers for PARIMA’s Singapore conference we asked the association’s board members to share their current concerns while looking ahead to 2018 and beyond

awardseventlogo

A short guide to entering StrategicRISK’s annual Asia-Pacific Awards

Everything you need to know to enter the 2018 Awards

Jo willaert ferma

Risk management and insurance at crossroads, says FERMA president

European Forum delegates told that “the risk manager can be not just a map reader, but a map maker” at corporations

CFC

Global cybercrime losses could hit $6 trillion

No end in sight for cybercrime threat as global connectivity fuels risk

Risk management

Insurance innovation offering fresh risk remedies, Swiss Re claims

A shifting economy has moved the risk landscape, but new insurance products have the risk transfer answers

Globe 1 crop

Sompo launches worldwide platform as global operations combine

Global clearance system to give common tone to worldwide business

Plane

Cyber risk forcing evolution of Singapore’s aviation industry

Cybersecurity threats among the drivers of emerging aviation jobs in Singapore

View from the board

The rising risk of cyber-related class actions

Firms who fail to have adequate cyber insurance could find themselves in court as a result

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Lloyd’s, PARIMA team-up for Sydney event

The Lloyd’s-PARIMA Professional Development Programme aimed at risk managers will take place later this month

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Economic inequality, security concerns among APAC risk trends

Global Risks Report (GRR) unveils the six interrelated trends changing the face of Asia-Pacific

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Rooms for improvement: hospitality standards under the risk microscope

A new hospitality risk assurance certification program seeking to benchmark hotels is coming to Asia

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StrategicRISK Awards 2018

Sixteen categories up for grabs for risk managers, insurers, brokers and service providers

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HDI Global SE names Singapore MD

German-based insurer replaces retiring boss with internal appointment

Card insurer CPP

InsurTech earmarked as growth goldmine

Aon report examines key areas of potential growth for insurance industry

australiatopriskscattergraph

Australia's top risks 2017

Less traditional concerns are grabbing risk managers’ attention, our 2017 Australia risk management survey suggests

Typhoon Hong Kong

Estimates emerge for deadly Typhoon Hato’s economic impact

Economic impact projections range from HK$4.29bn to HK$8bn after Hong Kong’s worst storm in more than half a century

View from the board

‘Everybody is a risk manager’: Risk shifts to executive domain

A study found that risk management programmes are increasingly being handed to senior management and business units. So what does it mean for risk managers?

Global crisis

‘The problem is that every morning some crazy thing has happened somewhere in the world’

In an exclusive interview with StrategicRISK, Control Risk’s CEO Richard Fenning examines geopolitical, regulation and technology risks in an ever changing and often baffling global environment

Agenda

RIMS Risk Forum: Setting the agenda

Ahead of the RIMS Risk Forum, board members from the society’s Australasia chapter consider the changing risk landscape and the challenges that it presents to RIMS and the wider risk profession

GDPR bill

Asia still behind other regions despite ‘waking up to cyber risk’

By Trevor Treharne

Misconceptions about the threat and magnitude of a cyber attack continues to hold back organisations

Catastrophe   SR

Economic losses from disasters plunge in 2017

By Trevor Treharne

Losses down to just US$44 billion in the first half of 2017, with US$23 billion worth covered by insurance

Electricity

Energy crisis fuels economic uncertainty

The Australian energy market is going through a period of unprecedented technological change and there could be dire economic consequences in the pipeline

Cyber attack 450

AIG witnesses 87% spike in enquiries due to WannaCry

Greater China region responds to jitters in the wake of the global cyber attack, but many firms are still underprepared.

North Korea

Firms warned of potential risks as North Korean tensions rise

By Trevor Treharne

Asian firms urged to prepare for the implications of military attacks as uncertainty continues to grow around the actions of the hermit state.

Getting fit

Getting fit for crisis management

By Trevor Treharne

While risk professionals are great curators of crisis processes, sometimes they can overlook the psychology of challenging situations

New hire

Zurich Australia hires two risk managers in CRM push

By Trevor Treharne

The Australian additions lauded as ‘evidence of commitment’ by insurer

Hospital

Workplace injury risk rife in healthcare industry

How a simple change in procedures could dramatically reduce injury risk for healthcare employees

Data breach

GDPR: The regulation juggernaut Asia-Pacific is ignoring?

By Trevor Treharne

Could The General Data Protection Regulation (GDPR) land Asia-Pacific firms huge non-compliance fines.

Kevin Bates Lend Lease

What happens when risk managers lose creditability

By Trevor Treharne

Once credibility at a firm is lost, a risk manager’s role can become an arduous one to fulfil

Appoint, join, new, hire, woman, appointment

RMIA appoints risk industry stalwart as CEO

By Trevor Treharne

Scott Ryrie will bring decades of pan-Asian experience in risk management to the top job

Hong Kong

Hong Kong gets exclusive typhoon warning insurance

By Trevor Treharne

Swiss Re Corporate Solutions seeks to cover business losses for Hong Kong firms after forced shutdowns in the wake of a typhoon warning.

Cyber security

Cybersecurity Bill released for public consultation in Singapore

As a nation with one of the highest levels of digital connectivity in the world, the Bill aims to minimise the risks of cyber threats

New appointment

Arthur J Gallagher appoints CEO for Australia

By Trevor Treharne

Sarah Lyons will now lead approximately 900 employees throughout the country.

Innovation Artificial Intelligence AI Insurtech Cyber

Risk managers outline fresh cyber risk approach

A major European risk management association calls for the creation of cyber risk governance groups, chaired by the risk manager.

shanghai insurtech china innovation

China gathers for regional risk rendezvous

Corporate risk managers in China came together for localised knowledge at the PARIMA Shanghai Conference 2017

Australia

What PARIMA’s Australian launch means for risk managers

Ahead of the soft launch of the risk management association in Australia, StrategicRISK sits down with a PARIMA board member to learn what the expansion means.

nz wir launch event panel speakers

Women in Risk community launches with bold aims

A new Women in Risk initiative in New Zealand has outlined its aims after a successful opening event in June

Discount rate cut

How should companies prepare for an 'inevitable' product recall?

Recall and crisis consultant Steve Hather outlines his top tips

Money, dollars, cash

What does a product recall actually cost?

Swiss Re Corporate Solutions senior underwriter Manzhi Zheng says the price tag can quickly escalate during a product recall event. In this article, she outlines the factors that will have an impact

Construction worker safety health

Special report: Chinese construction risks

High hopes are on China’s growing construction sector to help stimulate the country’s economy. But companies must make sure they’re adequately covered or they will nd themselves in strife.

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Securing cyber resilience, SWAT commander-style

By Gordon Song, group risk and internal audit head, Lazada Group

Ethics

Getting ethics right as a risk manager

Risk managers regularly face ethical decisions unique to their role and finding the right answers can be challenging

Mike Campbell-Pitt

Taking control of a nat cat crisis

Mike Campbell-Pitt, managing director of Crawford Hong Kong, offers a loss adjuster’s view of crisis management and business continuity after a nat cat

Nepal, earthquake, nat cat

All set for whatever nature has planned

With natural catastrophes mauling Asia for another year and insurance payouts falling short again, a collective effort is needed to solve the crisis

IRM launches new Education Advisory Board

Is ISO 31000 now obsolete?

Advanced complexity and severe unpredictability pose an existential threat to the global standard, writes Warren Black, HDR candidate at Australia’s Queensland University of Technology

Jessica Reid headshot

When logic should trump emotion

By Jessica Reid

What with Brexit, ‘The Donald’ and events closer to home, political risk looms large. At times like this, a scientific approach shows the real value of risk management, writes Asia-Pacific editor Jessica Reid

Terrorism

The three major terrorism trends to watch for in 2017

IHS Markit says October had a record number of terrorist attacks

etienne champion AXA

AXA's plans for Asia-Pacific in Ambition 2020

The insurer’s regional chief executive, Etienne Champion, tells StrategicRISK about their growth strategy and the new One AXA Asia initiative

a

Seas around The Philippines the most pirated in the world

Kidnappings by pirates globally is on the rise

i stock trump

What Trump’s election means for Asia

US president-elect Donald Trump’s campaign rhetoric on Asia tackled taboo subjects and hinted at major departures from fundamental policies and principles. Jason Rance, senior partner, Australia Pacific at Control Risks, gives his take on what the new US president could mean for the region

Arrow corrected size

Asia to drive insurance growth in 2017/18

Region predicted to grow by 8% in 2017 and 9% in 2018

Rising number of clinical trials present underwriting challenges for insurers

ISO 22316 final draft to be released before year’s end

By Jessica Reid

Global survey finds that most senior executives agree with the guideline’s core principles

Supply chain

Cost of supply chain disruptions on the rise - report

Lack of adequate supply chain visibility is likely a reason for the increase in disruptions

Reputation

How the Galaxy Note 7 recall could improve Samsung’s reputation

A well-managed product recall can leave consumers feeling more positive about the brand

i stock trump

President Trump: A leap into the unknown

StrategicRISK editor-in-chief Mike Jones considers how the US election result will change the global risk landscape

Cyber keyboard

Cyber-attacks could cost Australian economy $16bn

Lloyd’s has seen the amount of cyber insurance purchased in Australia increase 168-fold in the past two years

China espionage spy cyber

Risk and corporate governance in China

As GlaxoSmithKline and Caterpillar discovered, a failure to appreciate the downsides of Chinese business culture could cost you hundreds of millions. By Joshua Bateman CFA, CAIA, based in Greater China.

Keith Xia

Check into a career with prospects

By Jessica Reid

Parima China board member Keith Xia tells StrategicRISK about the country’s growing contingent of risk managers and his role as InterContinental Hotels Group head of risk for Greater China

health

Future healthcare risks and their remedies

We are staring at a decade of rapid healthcare development and innovation. What risks will these achievements create and how can risk managers mitigate them?

Kidnap and ransom is a growing risk

Executive detentions on the rise in China

By Jessica Reid

Control Risks says cases are linked to restructures and workforce cuts

Man woman handshake

Exclusive: Parima appoints three new board members

By Jessica Reid

Risk management association formalises entry in to Australia by appointing the country’s first board member

One Commercial

The way to manage a crisis

Vince Shiers, managing director of consultancy RQA Group, on the role of risk managers in a crisis

lung disease asbestos asbestosis mesothelioma

Modelling an approach to manage infectious disease risk

The spread of infectious diseases considered among the global risks of highest concern for doing business. By Dr Francesca Viliani, public health expert, International SOS.

Chris Mackinnon Lloyds Australia

Diversity isn’t just the right thing to do – it’s about managing risk

Off the back of the Lloyd’s Dive In Festival, Lloyd’s Australia general representative Chris Mackinnon reflects on diversity and inclusion in the workplace

Fred Kleiterp

‘Hong Kong is a very important step’ in Swiss Re’s evolution

Swiss Re Corporate Solutions APAC boss discusses the group’s new license

HEALTH INSURANCE EMPLOYEE BENEFITS

Mitigating medicine’s (alleged) costly slip-ups

As the medical negligence landscape shifts, we look at the impact on hospitals and how risk managers can mitigate the dangers

construction

Risk managers ‘least involved’ during infrastructure planning

Calls for greater involvement during whole project

Construction worker safety health

Infrastructure projects face major gaps in risk training

By Jessica Reid

Survey finds that four in five risk managers are faced with the issue

Productrecall

Special report: Product recall risks

Recalling a product is a potentially crippling step – and the digital revolution has made it even riskier than ever

china

How the president plans to make China great again

Xi Jinping’s hugely ambitious One Belt One Road initiative aims to emulate the economic glory days of the ancient Silk Road. Many observers are convinced it will fail. Has he bitten off more than he can chew?

Cyber 1

Yahoo cyber attack ‘largest data breach to date’

500 million users’ data including names, addresses and passwords have been stolen in Yahoo cyber attack

Jamie chambers

XL Catlin appoints new country manager for Hong Kong

Kin Lau moves to Lloyd’s after nine years with the insurer

wildfire

Study estimates 100,000 premature deaths from Indonesian haze

Last year’s haze was the worst in almost two decades

Tianjin explosion office building

Tianjin explosion: lessons learned

Just over one year has passed since the devastating Tianjin blasts in China. So what has the insurance industry learned from the event?

Construction worker safety health

How risk management can help reduce infrastructure overruns

Time and budget blow-outs can be mitigated by proper risk management, according to StrategicRISK survey

IRM launches new Education Advisory Board

RMIA launches CRO certification

Certification available for ‘top of the crop’ risk managers

Andrew Boal

Willis Towers Watson Australasia boss moves to JLT

Andrew Boal announced as new regional head

technology

Blockchain could make insurers redundant

By Ilonka Oudenampsen

The new technology can be used to automate insurance solutions and bypass third parties

Risk cropped

Lloyd’s and PARIMA host first professional development programme

Singapore event draws risk managers from around Asia-Pacific

Businessman working

RIMS opens applications for new online certification exam

The RIMS-Certified Risk Management Professional certification is available to prequalified practioners

Zika

Singapore’s Zika cases sparks concerns of Asian outbreak

Study estimates that 2.6 billion could be at risk

Women in insurance

Women in Reinsurance ‘WiRE’ launched in Singapore

New convenor is from IAG Re Singapore

Lloyd's building

New insurance festival launched to celebrate diversity and inclusion

Lloyd’s creates global festival following a successful London Market event last year

Rita trehan

Poor planning is a bigger risk than Brexit

The biggest post-Brexit risk is failing to plan for the future, says Rita Trehan, former CHRO at Honeywell and AES Corporation

Cars at night

​Autonomy on four wheels

Carsten Krieglstein, head of liability at Allianz Global Corporate & Specialty Central & Eastern Europe, explains that automated cars give rise to a host of legal questions which insurers have no option but to deal with

awards

StrategicRISK launches new Asia-Pacific Awards

Inaugural awards are now open for entries

Emerging risks

Companies don’t peer too far into the future

Emerging risks are a vital issue, but few risk professionals are expected to look more than three or four years ahead

Business deal work handshake people

RIMS Australasia: A society that’s young at heart

By Jessica Reid

With a new president and two fresh faces on the board, RIMS Australasia plans to introduce more events and target the emerging generation of risk professionals

Asia Risk Report

Asia Risk Report 2015

Asia Risk Report is StrategicRISK’s second annual risk management study, featuring exclusive data insights, industry opinions and analysis