In my article in CERM Insights #240, I discussed the results of the risk survey conducted annually by the World Economic Forum. The survey respondents are considered the economic elite. The responses provide an indication of the concerns of the movers and shakers of business. Consequently, the questions asked, and the risk concerns expressed are more policy oriented. Continue reading
The World Economic Forum conducts a risk assessment survey annually. The 2019 survey is the 14th edition. It contains information from 2009 to 2019. The article looks at the results of the survey for these years and discusses some implications. Continue reading
In the last issue of CERM Risk Insights #238 Greg Hutchins wrote an article “ISO 31000 Certification: Next Big Thimg”. In the article he discussed the ISO 31000 certification of Cholamandalam MS General Insurance Company India. As is noted, there is technically no such certification.
ISO 31000 is an Enterprise Risk Management standard. ISO has not created a 31000 certification. What is this all about? Is it the next big thing for ISO and Certification Bodies, or is it a symptom of certification dry rot? This article explores this question in a little more detail. Continue reading
ISO 31000 is the International Enterprise Risk Management (ERM) framework developed in 2009 by the International Organization for Standardization (ISO). Its use in government is increasing. The reason for the increase is that governments around the world are recognizing that risk events are increasing in frequency and cost. For instance, Hurricane Harvey impacted the States of Texas, Louisiana, Mississippi, Tennessee and Kentucky. It flooded 19 water systems, 31 waste water systems and 13 super fund sites spreading toxic waste throughout the region. It cost Texas $125 billion dollars. (1) Continue reading
The term resilience is used in reports and studies by numerous government agencies and international institutions. For instance, in 20014 the Organization forEconomic Cooperation and Development issued a report entitled “OECD Reviews ofRisk Management Policies: Boosting Resilience Through Innovative Risk Governance”.
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