📢 Are We Risk Literate Enough? For the longest time, my intellectual passion has been our collective approach to risk, both current and future. This is why I was surprised after reading a recent study conducted in nine countries in CEE by Vienna Insurance Group (VIG). It revealed a concerning trend: two-thirds of respondents showed a clear weakness in correctly categorizing risks and could not find preventative solutions or take appropriate safeguards against them. In light of these findings, I was excited to sit down with Hartwig Löger, CEO of VIG, to discuss whether our societies are truly risk-literate enough. We delved into the reasons why organizations often prioritize environmental issues over transforming social aspects of their operations and why it is crucial to address this imbalance. Our conversation highlighted the need for a more comprehensive approach to risk management that encompasses both environmental and social dimensions. Join us in a dialogue on how we can collectively enhance our risk literacy and create a safer, more resilient future for all 👉 https://lnkd.in/dYFhX-kM #HORIZON #riskmanagement
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Environmental and social dimensions are key for a successful risk management.
📢 Are We Risk Literate Enough? For the longest time, my intellectual passion has been our collective approach to risk, both current and future. This is why I was surprised after reading a recent study conducted in nine countries in CEE by Vienna Insurance Group (VIG). It revealed a concerning trend: two-thirds of respondents showed a clear weakness in correctly categorizing risks and could not find preventative solutions or take appropriate safeguards against them. In light of these findings, I was excited to sit down with Hartwig Löger, CEO of VIG, to discuss whether our societies are truly risk-literate enough. We delved into the reasons why organizations often prioritize environmental issues over transforming social aspects of their operations and why it is crucial to address this imbalance. Our conversation highlighted the need for a more comprehensive approach to risk management that encompasses both environmental and social dimensions. Join us in a dialogue on how we can collectively enhance our risk literacy and create a safer, more resilient future for all 👉 https://lnkd.in/dYFhX-kM #HORIZON #riskmanagement
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Join our CEO, Mark Varley, on Send’s INFUSE Webinar! As climate impacts continue to grow, risk management strategies need to evolve. That’s why we’re excited to invite you to the upcoming 30 minute INFUSE webinar by Send, featuring Mark Varley. This session will provide explore the future of insurance, focusing on how insurers can stay ahead by adopting innovative approaches to climate risk. What You’ll Learn: - Top challenges and priorities for underwriters in the face of climate risk. - How geography plays a crucial role in climate risk assessment. - Best practices for leveraging data throughout the underwriting journey. - Insights into how insurers are moving beyond traditional methods to offer proactive, impactful services. Date: 11th September, 2024 Time: 10:00 AM EDT / 3:00 PM BST Duration: 30 Minutes Secure your spot here: https://lnkd.in/eYCWTyne #RiskManagement #Insurance #Underwriter #Climate #Webinar #Risk
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In the face of climate-related risks, insurers are well-equipped to help risk managers build resilient, sustainable operations. Zurich Resilience Solutions’s Jorge Bernal Surman explains how insurers can help risk managers protect their companies now and in the future:➡️ https://lnkd.in/dDttE_bX #ESG #ClimateReslience #ZurichCommercialInsurance #FermaForum2024
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In the face of climate-related risks, we - insurers - are well-equipped to help risk managers build resilient, sustainable operations 🙏
In the face of climate-related risks, insurers are well-equipped to help risk managers build resilient, sustainable operations. Zurich Resilience Solutions’s Jorge Bernal Surman explains how insurers can help risk managers protect their companies now and in the future:➡️ https://lnkd.in/dDttE_bX #ESG #ClimateReslience #ZurichCommercialInsurance #FermaForum2024
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Really enjoying the InsuranceERM risk and capital EMEA conference today. Great session on risks and barriers to growth from Hanna Kam Aurore Lecanon and Edward Mishambi , expertly moderated by Joshua Geer. Perhaps no surprises that the two biggest barriers from the live polling were regulation and geopolitical risk (see picture for the other audience points) . Two discussion points that really resonated with me: 🏎️ “risk teams are all about how to help the business go faster more safely” - a reminder of the need for risk teams to focus on supportting strategy rather than block risks. ⚠️ a trend in recent years to having a “line 1.5” who are risk experts embedded within first line teams. Some debate about how effective these teams are or whether they lead to risks being dropped between the cracks. Much depends on how well it’s implemented! And rather a relief that nobody wants to talk about the Ogden rate! 😅
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Global Governance & Risk Executive | Board Chair | Non Executive Director | Financial Regulation | Leadership Enthusiast
As climate change intensifies, the need for boards of directors to integrate climate risks into their traditional frameworks of risk management grows in turn. Yet, despite increased awareness, the lack of standardisation complicates the effort to set tangible goals for addressing the challenges, creating a gap between awareness and action. A recent report from Fathom and the IFI Global reveals that while there's been progress, the insurance industry still has major progress to make in managing climate risks.💡It’s time to rethink our approach; from data solutions to governance, there’s more we can do to overcome this challenge. For more insights, download the full report here: 📄https://ow.ly/JBlT30sI6Qe
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How can parametric solutions within captive structures accelerate our response to climate risks, providing unmatched speed and precision in risk management? Join Stephen Lathrope, our SVP of Solutions at ICEYE, and Alex Korb, CFA, CPCU, ACI, our Head of Parametric Insurance, as they discuss the evolving role of parametrics in managing climate risks. Read the full interview in Commercial Risk's recent ESG Risk Review: https://hubs.li/Q02V4ghz0
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📈 Key Insights from Allianz Risk Barometer 2024 📈 🌍 Globally, businesses face many risks, but two that stand out are #NaturalDisasters and #ClimateChange. The latest survey from Allianz indicates that natural disasters account for 26% and climate change for 18% of the biggest business risks across industries. 21RISK collaborates with the world's largest reinsurer Munich-Re to support companies with solid data to describe each company's exposure. With 21RISK, companies gain direct access to an analytical tool for calculating insurance purchasing needs and working with risk reduction measures. 🌧️ #NaturalDisasters, including hurricanes and earthquakes, require robust contingency plans and prevention strategies. These events can disrupt supply chains, lead to the loss of assets, and even shut down entire factories. 🌡️ #ClimateChange is a long-term risk that threatens to change the conditions under which businesses operate. From physical risks such as rising sea levels and extreme weather events to transition risks that come with changing policies and consumer preferences, it is clear that businesses need to adapt. As leaders and decision-makers, we must ask ourselves: How can we promote our resilience to these risks? Are our risk management strategies sufficient to deal with the consequences of these global threats? 🤝 Share your thoughts and strategies below. Let's collaborate to navigate these challenging times with insight and preparation. #RiskManagement #BusinessContinuity #Sustainability #Insurance #Reinsurance
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Manager | Head | Energy | Engineering | Construction | Property | Insurance | Gerente | Ingeniería | Seguro |
As climate change intensifies, the need for boards of directors to integrate climate risks into their traditional frameworks of risk management grows in turn. Yet, despite increased awareness, the lack of standardisation complicates the effort to set tangible goals for addressing the challenges, creating a gap between awareness and action. A recent report from Fathom and the IFI Global reveals that while there's been progress, the insurance industry still has major progress to make in managing climate risks.💡It’s time to rethink our approach; from data solutions to governance, there’s more we can do to overcome this challenge. For more insights, download the full report here: 📄https://ow.ly/fkyP30sI7VN
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As climate change intensifies, the need for boards of directors to integrate climate risks into their traditional frameworks of risk management grows in turn. Yet, despite increased awareness, the lack of standardisation complicates the effort to set tangible goals for addressing the challenges, creating a gap between awareness and action. A recent report from Fathom and the IFI Global reveals that while there's been progress, the insurance industry still has major progress to make in managing climate risks.💡It’s time to rethink our approach; from data solutions to governance, there’s more we can do to overcome this challenge. For more insights, download the full report here: 📄https://ow.ly/mKgy30sI8sm
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