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18 November 2008
Clear guidelines allow ING to learn a valuable lesson
ING, the Dutch financial services group, operates in more than 50 countries and has developed a risk management system to protect it from the hazards that can arise with international expansion. Just over a year ago, the banking and insurance group formally split its risk and finance functions with the elevation of Koos Timmermans from deputy chief risk officer to chief risk officer
ING

18 November 2008
Risk management case study: Association’s study finds clear benefits for businesses
What makes a successful risk management programme and what benefits can an organisation expect to obtain from embarking on a company-wide risk management strategy? These are the question that the Association of Insurance and Risk Managers (Airmic) has attempted to answer with its ground-breaking research into enterprise risk management (ERM). Airmic commissioned Det Norske Veritas, the consultancy, to conduct the research in December 2006. The work concentrated on organisations with explicit ERM initiatives that had been in place for three or more years.
Det Norske Veritas ; Association of Insurance and Risk Managers (Airmic)

17 November 2008
IFAs aren't paid to outsource risk management - Bamford
Clients are in danger of spending up to a year in inappropriate investments should advisers rely on managed funds to maintain risk profiles, Informed Choice joint managing director Martin Bamford claims. The high-profile IFA says while many advisers invest in managed funds after an initial risk review, some do not realise the vast differences between the funds in an individual sector and how asset allocations could significantly alter overnight.
Informed Choice

16 November 2008
Pensions put longevity near top of hazards list
Longevity risk is second only to investment risk for UK pension schemes, according to a report by Aberdeen Asset Management. A survey of 76 schemes with a total £185bn (€217bn, $271bn) of assets found 80 per cent rank longevity risk as important or very important, putting it ahead of both interest rate and inflation risk, ranked third and fourth. More than half the schemes expect life expectancy to continue to increase, and over 40 per cent think their members will live longer than those of the average scheme. However, these expectations are not reflected in the longevity assumptions schemes use to calculate their liabilities.
Aberdeen Asset Management

13 November 2008
Bupa: Women more worried about credit crunch
Women are suffering more from stress as a result of credit crunch-driven financial difficulties than men, according to research released today. The study, conducted by health insurance provider Bupa, showed that nearly half (49 per cent) of women feel increasingly stressed at work and 57 per cent fear for their finances. By contrast, less than 50 per cent of the men surveyed were worried about their personal finances and one-third said they felt a credit crunch-induced increase in stress at work.
Bupa

12 November 2008
'Perfect storm' as credit insurers grapple with risk
As the man in charge of Euler Hermes UK, one of the country's biggest credit insurers, Fabrice Desnos is perfectly placed to give an early warning for the future of British trade during the downturn. And the view he offers from his 36th floor office is not bright. "The problem . . . is this is a perfect storm," he says. "Everything has gone wrong at the same time." Euler Hermes has risk assessors evaluating solvency risks in thousands of businesses across all sectors in the UK.

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