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Risk innovation's time is now: world leaders
04 June 2012
Feature: Debate among world leaders at the recent 42nd St Gallen Symposium suggested that risk managers and insurers finally have a chance to make their mark.
nikolaus von bomhard
Business leaders, politicians and other social leaders
around the globe are going to have to polish up their risk
identification, measurement, management and transfer skills if
they are to get the global economy marching again.
The shock caused by the recent financial crisis and subsequent
global economic downturn has potentially raised levels of risk
aversion to the highest levels in modern history among the
world’s leaders. This is a big danger to the
recovery in itself.
Risk taking is essential to provide the base for the kind of
innovative thinking and action that is needed to kick-start a
true recovery and should not be strangled by excessive
regulation in response to the crisis.
But it is essential that this risk is taken in a logical and
considered way and does not turn back into the kind of gambling
that led to the crisis in the first place.
There is a...
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