Airmic has teamed up with its public sector sister body Alarm and the Institute of Risk Management to

draw up a British Standard for risk management.

The three bodies have deliberately excluded other involved in providing risk management, such as accountancy firms, to ensure the early work and draft standards reflect the practical concerns of risk managers actually working in businesses and other major organisations.

The special team from the three groups is headed by David Ovenden, former head of insurance and RM at P&O, a CII fellow and a former Airmic chairman. "When we have reached some sort of consensus we will put it out to others for consultation," he said.

Airmic chairman Mark Butterworth questioned insurers commitment to tackling new risks after research among its ecommerce special interest group slammed insurers for failing the market.