Risk management is now at the heart of corporate strategy. Without risk-taking, no business will grow. Without knowledge and understanding of risk, no business will survive. Assessing, monitoring and controlling risk is key to corporate survival. It is also central to corporate governance: companies need to demonstrate that they are managing risk in every area of their operations. Failure to do this can see a sudden and potentially unstoppable slide in share value - in itself one of the biggest risks for any public company.

The range and dimensions of risk increase daily. It's not just cyberfraud, hacking, and internet viruses. There are also the people risks - staff under stress; the general public better able than ever before to trace back damage to its cause and to claim a remedy. And there are the risks to reputation, to brand value, to the environment, together with an ever-changing legislative and compensatory framework.

In this fast-changing world the opportunities for the insurance industry are enormous. Successful brokers and insurers in the 21st century will get to the heart of their clients' businesses - working with clients not just to manage risk, but also to facilitate business development through innovative risk-sharing.