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Airmic to work with Reputation Institute to ‘tackle the complex subject of reputational risk’

Airmic has announced it will be joining forces with the Reputation Institute to tackle the complex subject of reputational risk. The collaboration follows from a lively and thought-provoking round table hosted by Airmic about the difficulties associated with the issue.

The two organizations will explore ways in which risk managers and the insurance industry can improve their handling of reputation. They aim to develop a framework setting out an agreed definition of reputational risk and an understanding of its drivers and what can be done to mitigate and insure against it.

Surveys of Airmic members have repeatedly shown reputation to be at or near the top of the concerns of risk managers.

“Reputation can be a company’s most important asset,” John Hurrell, Airmic chief executive, said. “Yet it is an extremely complex subject and very difficult to underwrite. Whilst recognising its importance, risk managers and underwriters struggle to get to grips with it. We want to build a greater understanding of all aspects of reputational risk and to explore the possible solutions both from an insurance and wider risk management perspective.

www.airmic.com

•Date: 4th September 2014 • UK/World •Type: Article • Topic: Enterprise risk management


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