He says that many of the challenges facing both risk managers and insurers today appear to be coming from opposing directions. They include: the additional demands placed on some risk managers to meet underwriters' requests for risk quality information; and the desire for insurers to make an underwriting profit while risk managers look for reductions in insurance premiums.
Using a case study approach, Fessey will focus on how effective risk management strategies can be used to respond to most, if not all, of the challenges. For example, companies that can prove they have a high risk quality should receive improved insurance programmes and have fewer losses, which in turn leads to an underwriting profit for insurers. Consequently, proactive risk managers who manage their companies' risks well and form strong partnerships with their insurance providers, will reap the benefits of a robust approach to business continuity and also be in a position to ensure their insurance programmes receive more favourable pricing and terms and conditions.
The workshop aims to provide those attending with more ammunition to help secure continued commitment to risk management from their senior management.
