RMI 3502 Chapter 5: Topic 5 Articles

• School: Temple University
• Department: Risk Management and Insurance
• Course: RMI 3502
• Professor: Wilkinson

Document Summary

According to aon, most of the risks that businesses think are the most pressing are uninsurable within current policies. The risk industry has to stay relevant as traditional risks get bigger and non traditional risks pose new threats. Lambros lambrou warned that the future of risk financing will look very different from past ones. It is more likely to have catastrophic losses when something goes wrong outside comfort zones risk. The risk industry has struggled to develop strategies relevant to clients" needs in the catastrophic risk space. Looking at the past as a guide to future decisions can lead to a failure to innovate and address new or changing risks. All companies are now borderless and all risks are global since the technology boom. The risk industry must develop risk mitigation and financing strategies to continue offering value and relevance to their clients.