How much risk should we take? What risk is too much, what risk is too little? How can risk appetite contribute to operating in the “sweet spot”?

ISO 31000:2018 states that “managing risk is iterative and assists organizations in setting strategy, achieving objectives and making informed decisions.”
The notion of risk appetite could be defined as “organization’s approach to assess and eventually pursue, retain, take or turn away from risk”.
Therefore it seems to make sense to formalize that approach by issuing clear risk appetite statements.

On the other hand, some say that there is no need for separate risk appetite statements because all the “limits” (i.e. acceptable or unacceptable actions/behaviour) are already contained in the organisation’s policies at Board and/or Executives level.  Assuming they are, how do you ensure those “limits” are set at the right levels for making decisions? Assuming this is done properly there is a very high chance that executives of an organisation will make decisions well within the limits and in fact can and should take more risk.

Imagine an insurance risk manager pushing everyone to take more risk! This is a great opportunity to help decision makers take on more of the good risk.
But how do you determine the adequate risk level and thus separate the good from the bad?
This webinar will provide you with elements of answers if not at least some “food for thoughts” on this topic.

We will guide you through the added value of risk appetite by focusing first on insurable risks, followed by non-insurable risks

  • MARSH will cover the insurable risks by presenting 2 distinctive approaches to help insurance risk manager set adequate (i) deductible level, (ii) limit of indemnity
  • CORPORATE VALUE ASSOCIATES (CVA) will look at risk appetite from a strategic perspective by going beyond the quantification of risk appetite in pursuit of an agile strategy

WHEN: 25/03/2021 – from 4:30 pm till 6 pm
HOW: Teams Webinar

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