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How risk, claims and safety software could have saved Jurassic Park

In honor of the 24th anniversary of the movie Jurassic Park’s release in June of 1993, this is a great time to engage in a little “what if” thinking and imagine how risk, safety and claims software solutions could have saved John Hammonds’ incredible vision.

Topics: risk management enterprise risk management claims software Safety Management & Risk Control

Register (your risks) now!

You have your risk management framework in place but what is the next step? Firstly, well done for getting this far. A lot of hard work goes into a good framework. Now you have to put it into practice.

As part of the risk management plan you will need a log of all the potential risks that might affect your business. A risk register, also known as a risk log, is an important part of a company’s risk planning and helps to fulfil many regulatory requirements. Here is some guidance on what a risk register is and how to develop one.

Topics: enterprise risk management ERM Risk Register

From Start-up to Corporate – How Risk Management Changes in a Growing Company

All businesses have risk, and with many start-ups failing within their first four years, somebody needs to take responsibility for managing risk, even in a small company.

When a start-up makes that all-important decision to grow, there are huge risks to deal with and there are even more on-going risks associated with being a large company. What was a basic risk management solution is now no longer enough – you need an enterprise risk management framework.

Topics: risk management enterprise risk management ERM

Risky Business: A Risk Manager’s Introduction to ERM

 

Topics: risk management enterprise risk management ERM

The current (and looming) skilled-labor shortage: Why it's a risk management issue

This article by the Wall Street Journal's chief economics commentator, Greg Ip, set me to thinking about a risk that seems to become more real every day; however, it's a risk that is little understood and not often included in the risk inventories of companies in the United States. It has to do with the question of where we're going to get the skilled labor that we need in the next 20 years.

Topics: enterprise risk management Updates & Viewpoints

Various Types of Risks an RMIS Can Help Mitigate

Taking risks may be inherent in doing business in any kind of competitive environment. Because of this, a company's ability to manage risks might make the difference between success and failure. A risk management system, usually called an RMIS, helps prepare management for various threats by making sure that the hazards are already known, mitigated, and planned for. With that in mind, consider various types of business risks and how they can be addressed with RMIS risk mitigation.

Topics: risk management enterprise risk management regulatory insights performance management

Operational risk on a broader scale: 3 ways to turn vision into action

Earlier this week, Advisen’s Front Page News, a valuable daily collection of news related to risk management, directed me to a very useful article from American Machinist: “4 Things Plant Managers Need to Know About Operational Risk.” As the title of the article indicates, author Paul Leavoy’s piece is geared to operations management at manufacturing and heavy-industry firms; however, as I read the article, it occurred to me that Mr. Leavoy was shedding light on a challenge risk managers in any kind of firm often face: demonstrating to their operations colleagues that risk is not an “abstract, top-management priority that doesn't clearly relate to their roles or the boots on the ground they are responsible for.”

Topics: risk management enterprise risk management ERM

Understanding and mitigating cyber risk: Where do risk managers start?

the_threat_from_cyber_riskIf you attended or read reports from the RIMS annual conference in Denver in April or the AIRMIC conference in Birmingham, England, a few weeks ago, it won’t come as news to you that risk managers are being exhorted to take greater ownership of cyber risk. I seem to be seeing more and more articles with headlines like “Risk managers urged to play greater role in cyber risk management.”

There seems to be a consensus building that managing cyber risk should no longer be the responsibility solely of information security and information technology teams. The cover story in Risk & Insurance’s April issue, “Cyber: The New CAT,” put this new reality bluntly and prominently, right below the headline: “In every industry and at every company size, cyber risk is a foundation-level exposure that every business must confront—one that must be viewed with the same gravity as a company’s property, liability or workers’ comp risks [emphasis added].”

Topics: cloud computing enterprise risk management exposure management

View the on-demand webinar: Enterprise Risk Management: Advancing from spreadsheets to a formal system

If you’re interested in enterprise risk management, I encourage you to view a recent webinar hosted by Aon eSolutions called ERM: Advancing from spreadsheets to a formal system. The webinar runs for 35-minutes and includes presentations from Justin Lovell, business risk manager in the chief risk office of Aon UK Ltd., and Angus Rhodes, RMIS consultant with Aon eSolutions. The webinar was recorded from a live, online presentation given Friday, December 6.

Topics: enterprise risk management

Free webinar: Enterprise Risk Management: Advancing from spreadsheets to a formal system

ERM_webinar
Join this 45-minute webinar to learn how you can advance from spreadsheets to a formal approach to align enterprise efforts and make informed decisions that help embed ERM into your organisation and prepare you to avoid, manage or prevent future risk events.

Duration: 45 minutes

Date/time: Friday 6th December, 12:30 - 13:15

Topics: risk management enterprise risk management webinar