An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
Tuesday, 10 May 2011
Reputational Risk Insurance - just in time
I like the option and the thought of paying the premium to cover reputational issues simply in order to get away from this irrational thought that the costs cannot be quantified, and therefore modelled. It never felt right to me when viewing it in the directive and the Level 2 & 3 guidance, and with the UK banks about to cough up en masse on PPI misselling, we may be about to see some organisations other than BP who may have benefitted from spending £10m a year on this type of coverage!
Subscribe to:
Post Comments (Atom)
Management risk and risk appetite will always live with the people and their organizations! I do not think that, by identifying the risks are high and low to go simply by checking the box without any problems with right diagnosing that carry these risks, as well as risks Enforce to know their origin. And those who support the policy to understand them.
ReplyDelete