As June turns into July, and Greece faces yet another economic crisis, it's becoming more apparent that instability around the world leads to increasing risk for businesses. We're living in the "Age of Volatility," said Jacob Rosengarten, chief enterprise risk officer, XL Group plc, in his presentation at the Insurance Industry Charitable Foundation's Woman in Insurance Global Conference, held June 17–19, in New York City.
It's important for risk managers to consider the volatility and plan ahead for how these risk affect their organizations. He recommended that risk managers create scenarios based on the risks, assess the organization's vulnerabilities, and consider how the company would handle each scenario.
Rosengarten highlighted the following five interrelated risks that affect all organizations, wherever they're located.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
