This is the second in a series of interviews, which will be published weekly. The first was with Annemarie Schouw, risk and insurance manager at Tata Steel Europe, FERMA board member, and co-chair of the Rimap steering committee. You can read it here.
How has the risk landscape changed in the last 50 years?
The risk environment has undergone huge change over the last 50 years, both in terms of the risks themselves and the role of the risk manager.
The scope of risk management has expanded considerably from its original remit of natural disasters, accidents and physical risks, to encompass rapidly evolving technology challenges, financial crises, and geopolitical turbulence.
The evolution we have seen in the digital environment in recent years, has created one of the fastest developing risk environments in history, with cyber-related risks changing with incredible speed. While risks such as climate are shifting constantly creating larger and more frequent natural disasters.
“The primary issue is the increasing speed of incoming risks and how interconnected and global they are.”
During the last 50 years, the industry has also faced numerous Black Swan events…
