Campaign to put risk management and insurance on boardroom agendas has made big strides – Airmic chief exec John Hurrell

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A guide to help risk managers understand the importance of business insurance is set to be launched at Airmic.

Speaking to delegates on the opening day of Airmic’s annual conference chief executive John Hurrell said the campaign to put risk management and insurance firmly on boardroom agendas had made significant advances over the past 12 months.

Hurrell cited the guidance on risk management and internal controls from the Financial Reporting Council which calls on directors to take greater responsibility for risk management.

He also said Airmic would be using its 2015 conference to unveil further work designed to educate business leaders and help risk managers raise the profile of risk and insurance.

These include a guide for risk managers on how to achieve resilience and support their boards and a report for members on the hot topic of reputational risk.

Hurrell also urged urged insurance buyers to consider amending contract wordings to achieve its benefits ahead of the August 2016 implementation date of the Insurance Act.

He added: “We have been working with our friends at Herbert Smith Freehills to issue a clause which would effectively replicate the main policyholder advantages of the new law. These are available now.”