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Survey: How the Pandemic Has Evolved Risk Management Strategies

DRI Drive

A recent report spotlights how the private sector is incorporating the lessons learned from the pandemic. The Federation of European Risk Management Associations (FERMA) surveyed risk and insurance professionals as well as senior executives globally to gain a picture of the role of risk […].

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What Is Risk Management?

LogisManager

What Is Risk Management? The world will always be filled with uncertainty and with uncertainty inevitably comes risk. Risk management, in its simplest form, is assessing the possibility of something bad happening; i.e. “If I take this action, will it result negatively?”. What Is Risk Management?

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A TechRisk/RiskTech Reading List from Risk Management Magazine

Risk Management Monitor

Last week, the RIMS TechRisk/RiskTech virtual event featured two days of education content on some of the biggest challenges and opportunities in modern risk management, focusing extensively on cyberrisk as well as risktech—the latest technology tools and techniques for managing risk. And we must adapt quickly.”. “We

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

LogisManager

Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. However, the evidence was inconclusive so their strategy continued unchanged.

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The Colonial Pipeline Hack: Failure in Risk Management

LogisManager

Colonial Pipeline Hack: Failure in Risk Management. That’s why insurance premiums are increasing exponentially for those organizations that cannot provide evidence of an effective ERM program that has strong controls and a robust Incident Response program. Colonial Pipeline Hack: Introduction. Colonial Pipeline, a major U.S.

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RIMS Kicks Off RISKWORLD 2022 Honoring Top Risk Professionals

Risk Management Monitor

SAN FRANCISCO—At today’s RISKWORLD 2022 opening ceremony and awards luncheon, RIMS recognized top risk management and insurance professionals with the society’s annual awards. Courtney Davis Curtis’ risk management philosophy is spot on,” said RIMS President Patrick Sterling.

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Tornadoes Devastate Midwest and Southern States

Risk Management Monitor

While Karen Clark & Company has estimated that the insured loss from the tornado outbreak will be about $3 billion, and credit rating agency Fitch predicted that losses would total $5 billion, Dr. Joel N. Businesses and risk professionals should prepare now for more frequent and intense weather events.