Property insurer FM Global has a new risk assessment service called Business Impact Analysis, which it says can help companies identify risks in the increasingly complex global marketplace.
Busines ...
Property insurer FM Global has a new risk assessment service called Business Impact Analysis, which it says can help companies identify risks in the increasingly complex global marketplace.
Business Impact Analysis will look at a company's property, outsourcing, financial and labour exposures, as well as its ability to deal with loss situations.
It can also provide impact estimates on margin, earnings per share and a framework for prioritising capital improvements and response efforts.
Business Impact unit manager Scott Settje said as companies underwent constant changes to their business models through globalisation, mergers and acquisitions, they were striving to get a better understanding of their risks.
"Even a single business interruption can have a substantial impact on a company's earnings," Settje said.
FM Global also recently released a new economy risk assessment programme, to provide companies with an analysis of their computer network and e-commerce risks.
International division managing director Ken Davey said many companies relied heavily on networked computer systems to do core business operations.
"As a result, the loss of use of the internet or loss of access to key electronic data, for many companies, can have a devastating impact on business continuity and profitability," Davey said.
The economy risk assessment looks at the impact e-commerce has on a company's business model, its electronic exposures and possible risk management solutions.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
