A unified voice needed

The President of the Chartered Insurance Institute, Lord Hunt of Wirral, has called on groups representing risk management professionals to come together and create a united voice. Speaking at the Risk Federation event at Wembley Stadium organised by AIRMIC, Lord Hunt said risk managers had ‘suffered in the past from fragmentation of presentation and should avoid Balkanisation in the future.’

Recent setbacks, such as Northern Rock, the sub-prime crisis and the losses at Société Générale had made clear the importance of risk management, giving the associations an unprecedented opportunity to get their arguments across, he argued.

Lord Hunt praised the creation of the Risk Federation, which brings together AIRMIC, the Institute of Risk Management, ALARM, the Business Continuity Institute and the International Institute of Safety and Risk Management. There had long been a need for risk management professionals ‘to come together to pool their collective knowledge and experience,’ he said. 'And here you are. What an achievement.’ The seminar, Wembley Stadium – vision into reality, looked at the role of risk management in the building of the world’s largest football stadium.