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Nick Quigley
Hello, I can appreciate this article as I too find that Risk Management as a profession is still like hiring ninjas. Organizations have no clue what they want and they generally ask for the wrong things when trying to hire a risk manager. I hope that one day we will see positions that do not require a risk manager to be a CPA or CISO. I do however disagree with your use of the ISO 31000 definition in substituting effect. Risk is neutral and therefore, an effect can be either positive or negative. The substitution of the word for consequences implies that risk is only negative. The antonym to “consequence” is benefit and so your substituted definition no longer meets the ISO 31000 standard. It is vital to ensure we look at both sides of the coin in making decisions, where risk needs to be quantified and weighed to ensure the C-suite can make educated choices.
30 May 2023
“For the last 10 years, rates in the region have been on the decline across various commercial and specialty lines including aviation and energy. Throw into the mix the rising costs of intermediation and compliance, and all these factors have combined to undermine regional P&Ls and are proving to be challenging for non-life insurers. This is the new reality in Asia”
- Mr Marc Breuil, Regional President Asia, Berkshire Hathaway Specialty Insurance