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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.

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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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