How to spot a risk
How to spot a risk
AIG managers Steve Cook and Steve McKay taught delegates how to identify environmental risks to business in a session at the conference.
Cook, managing director of AIG Engineering Group, and McKay, south-east regional manager of AIG Consultants, looked at how customer opinion can influence a risk management strategy.
They also went through environmental management systems, risk transfer and risk finance options.
Ignorance not an option
Business owners face many new areas of risk and cannot afford to ignore risk management, Miller Fisher's Gerald Williams told delegates.
The Chartered Institute of Loss Adjusters president said extreme weather caused by global warming, increasing litigation, new corporate manslaughter laws, kidnapping and anarchist activity were just some of the emerging risks businesses faced.
He said that business owners nowadays faced a much wider variety of risks than ever before, and the standard liability policies on which they had relied on for so many years simply could not be expected to encompass the degree of cover which they now required.
“They have no choice, therefore, but to raise the profile of their risk assessment and evaluation measures,” he said.
Time to network
Airmics' Central Area's next convention will be held at Bosworth Hall Hotel in November 2002.
The programme will be a mix of plenary and workshop sessions on hot risk management topics, plus plenty of opportunities for both structured and informal networking.
Alex Hindson covered the changing nature of risk in the healthcare and pharmaceutical industries in an Airmic workshop.
Hindson, of Astra Zeneca Risk and Insurance Services, ran the workshop called Taking a Lead in the Risk Management Process.
Hindson told delegates how to understand and analyse the new risks facing organisations, how to see the dimensions of these risks and how to engage in debate the managers who own the risks.
It is vital that organisers of sport and entertainment events ensure they have the correct liability covers in place, Andrew Deans of Hextall Erskine said at the conference.
Deans said the main types of insurance that needed to be considered included employers' liability, public liability, personal accident, personal health and third-party suppliers' insurance.
He also said that insurers always had to be informed if any dangerous activities were planned.