An enterprise risk manager’s view on how artificial intelligence (AI) can be implemented into day-to-day risk management tasks, taking care of the mundane so that risk professionals can deliver what AI cannot – expertise and judgement
Only 14% of organisations put a number on their biggest exposures, and just 19% use analytics to judge whether their insurance is worth the money. As risks multiply and every line of spend is questioned, analytics is becoming the way risk managers defend their budgets
The policing service is working hard to balance the aviation risk of using drones with operational risks, especially as is it able to take advantage of legal exemptions to operate outside of current regulation, says BTP’s head of drones programme
Risk professionals need to show how their work protects cash flow, capital and resilience, rather than rely on technical insurance language, Airmic has warned.
Although research demonstrates that drone usage can reduce a business’ net risk profile overall, risk professionals must think strategically about combating pilot errors as ‘the human in that chain is the weak link’ contributing to claims costs
The executive and professional lines market is offering its most favourable pricing in years – but beneath these softening conditions, global tension, rising insolvencies and digital enforcement are ever-harder to navigate. Smart buyers will use the moment to secure better cover with partners built to last, writes BHSI’s Scotland Walsh-Riddle.
Claims data from nearly 3,000 crew cases identifies the first months on board and the start of the working day as particular pressure points, while experienced crew are also frequently involved in accidents.
Following the shooting of UnitedHealthcare CEO Brian Thompson, companies made bold security statements and bolder spending. Yet surveys show structured threat assessments and board oversight are still falling short of true executive protection.
FERMA and WBCSD are developing a common framework to help companies demonstrate the value of prevention, secure capital and protect insurance capacity
FERMA is championing risk management priorities as the EU develops a framework to address climate risks, aiming to bridge protection gaps through better data and public-private partnership.