Mr Peter Madeley of FM Global says chemical customers should seek companies with specially trained engineers and flexible services to work with to reduce their risk.
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Chinese insurers should not rush into setting up or buying into private equity companies although a recent regulation allows them to do so, cautioned CIRC’s Vice Chairman, Mr Yang Mingsheng. At the same time, he said that insurers should bear in mind that they are barred from investing in land and housing.
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After the global financial crisis, there is a greater emphasis on risk management globally recognising the need for strengthened techniques, methodologies and applications utilised in identifying, measuring and managing risks. Risk management is now the key element of strategic and operational planning and execution and financial sector. CEOs and Board members now focus more than ever on the 3 Rs: Risk, Regulation and Reputation.
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Risk management is now on the agenda for top management, the board and shareholders in the EU, found the Federation of European Risk Management Associations (FERMA), in the most comprehensive survey on risk and insurance management in Europe.
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