Clik here to view.
Risk Attitude and Risk Management – How we Fail to Agree About Risk
What's your risk perspective and how does your risk attitude match with your experience of risky situations?
View ArticleClik here to view.
Video: Claudio Ades on the Italian Risk Landscape
In the last of our series of interviews with our European business leaders, I met with Claudio Ades, Chairman of Willis Italy, to discuss emerging risks in the Italian insurance market.
View ArticleClik here to view.
Resiliency vs. Fragility
Is there really a choice? Who would choose to be Fragile over Resilient? But many firms found that they had made the Fragility choice for their supply chains when the Earthquake, Tidal wave and...
View ArticleClik here to view.
What to Do About Emerging Risks…
WillisWire has on several occasions featured opinions from a large number of our contributors about what might be the next emerging risk in various sectors. But what can be done once you have...
View ArticleHas the Risk Profession Become a Spectator Sport?
The 2013 ERM Symposium goes back to Chicago this year after a side trip to DC for 2012. This is the 11th year for the premier program for financial risk managers. This year’s program has been developed...
View ArticleClik here to view.
Panel at ERM Symposium: ERM for Financial Intermediaries
Insurance company risk managers need to recognize that traditional activities like underwriting, pricing and reserving are vitally important parts of managing the risks of their firm. Enterprise risk...
View ArticleClik here to view.
A Gigantic Risk Management Entertainment System
As video gaming has become more and more sophisticated, and as the hardware to support those games has become capable of playing movies and other media, video game consoles have now become...
View ArticleClik here to view.
Managing People Risk in Financial Times Special Report
Companies should look beyond the surface level to accurately quantify the risks associated with people and behaviour. That is according to Steve Saporito, Chief Executive for the Americas at Willis...
View ArticleClik here to view.
Risk Management: Adaptability is Key to Success
There is no single approach to risk management that will work for all risks nor, for any one risk, is there any one approach to risk management that will work for all times. Rational adaptability is...
View ArticleClik here to view.
ERM Practices: Risk Limits and Controls
At the most fundamental level, enterprise risk management can be understood as a control cycle. In an insurance company’s risk control cycle, management needs to first identify the key risks....
View ArticleClik here to view.
The Construction Talent Shortage: A Risk In Need of Management
I spoke to three construction CEOs this week and each of them confided separately that their number one concern right now is finding qualified people to do the construction that’s picked up as the...
View ArticleClik here to view.
Insurance as a Strategic Enabler
Understanding where a company wants to be in the future, identifying risks that might stop it getting there, and working with risk advisers and insurers to get the right risk management, transfer and...
View ArticleClik here to view.
Chief Risk Officer 3.0: Darwinism at Work
The role of the chief risk officer (CRO) in European insurance companies has evolved quickly in the last 20 years. Now, I believe that the passage of Solvency II is moving the goalposts again. As the...
View ArticleClik here to view.
The risk manager of the future
Some people miss the good old days. I don’t. I’ve been around since the days when business was done on a napkin with people who were more like buddies than business partners and yes, when the deal was...
View ArticleClik here to view.
Guide to basic economics behind insurance
Why do financial institutions buy insurance? There is something counter-intuitive about one financial institution agreeing to guarantee the risk of another financial institution. To understand why any...
View ArticleClik here to view.
Conduct risk and culture
Culture matters “Culture” within the financial sector has received significant attention since the financial crisis. As we have seen in several high-profile examples, poor culture within the financial...
View ArticleClik here to view.
Discipline is key to ERM
Risk management matters the most when it is the most expensive and most difficult. But unless the regular steps of risk management have already become muscle memory, it is much less likely that you...
View ArticleClik here to view.
Addressing the human element in cyber risk: The HR/risk management partnership
According to the latest research by Willis Towers Watson, cyber security continues to be widely viewed as a fundamental challenge (66%) and a top priority for organizations (85%). What’s more, the 2017...
View ArticleClik here to view.
What does a good risk culture look like?
In 2012, a major international bank disclosed a multi-billion-dollar trading loss on its synthetic trading portfolio. By its own admission, the events that led to the company’s losses included...
View ArticleClik here to view.
Keeping risk and capital in balance
So what direction is your company headed regarding risk? Are you expecting to: Grow your risk faster than your capital, using up excess capacity; Grow your capital faster than your risk, building up...
View Article
