September 17, 2019

Risk Management

Risk Management

A game changer in a risk-ridden world

Supply chain disruptions are one of the most complex and multi-faceted threats that businesses are grappling with, affecting their credibility and profitability, writes Capt. Manoj Kumar. Gone are the days when a comprehensive marine insurance policy was deemed sufficient for business organisations to have peace of mind. With the fast...


Gaining a competitive advantage

The rise of operational risk management is driven in large part by the need to achieve efficiencies, remove duplication and improve margins, notes Wissam Yaccoub. We live in a time of extreme uncertainty where economic, political, social, and technological advancements are dramatically transforming the landscapse for businesses and threatening traditional...


Adapting to Climate Change

Insurers in the MENA region need to consider a new co-opetition business model to incorporate the volatility of weather changes, write Tom Larsen and Maiclaire Bolton. The Middle East and North Africa (MENA) region has been recognised as a leader in population and economic growth, and projections expect the region...


In volatile times…

How is the regional political landscape impacting Trade Credit Insurance (TCI)? Karim Nasrallah looks at a few challenges affecting insurers and ways to overcome them. The TCI industry has been evolving in recent years, as a result of the economic, social and political changes that are unfolding globally, and specifically across...


The Risk Maturity Model

A risk maturity model is a powerful tool to assess risk management effectiveness across the enterprise, writes Domenic Antonucci. A risk maturity model gap-improves risk management system capabilities in a disciplined and consistent way and presents a robust case for organisation investment (Antonucci, 2016). Research proves that both enterprise risk...


Retaining a delicate balance

Credit insurers have an uphill task in supporting regional businesses, notes Schuyler D’Souza. When the focus of attention and discussion is directed towards the Middle East, particularly from overseas sources, the spotlight tends to fall on two areas. One is the ongoing political unrest and conflict in some countries, while...


Tackling political risk

Is political risk defined as governmental risk or a political situation that gives rise to poor economic conditions? The latest RIMS Executive Report strives to understand the right definition. The term political risk may seem to encompass all forms of international instability, which may not be exactly accurate. The Society...


Stress testing for Life

Syed Danish Ali points out that stress testing in Life insurance needs to be carried out to prepare for adverse conditions. Stress testing has evolved to a practical must-have tool for managing the ground realities of uncertain economic and market conditions. Nowhere is stress testing more relevant than in the...


Fire risk: A significant threat

Frequent and severe fires in the region have now caused the industry to revise underwriting guidelines and rates, writes Mohamed Alali.


Political risk in a world of disruptions

Any business that operates in the (re)insurance industry needs to seriously consider embedding political risk assessment and monitoring and mitigation into their strategy, advises Sorana Parvelescu. Political, and even more so, geopolitical risk make for a fascinating topic of conversation. It not only dominates news headlines, but also multinational companies’...

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