Strategic risk initiatives
Identifying and addressing emerging risks can be challenging. Their novelty and interconnectedness makes it difficult for anyone to determine when a particular risk notion must be considered an emerging risk. Timing is thus of crucial importance: If measures to exclude a particular risk are taken too early, we can offer our clients less insurance protection; if measures are taken too late, we may end up with increased loss potential.
Given these challenges, we believe it is essential to foster risk dialogue with various partners. By sharing perceptions and assessments, all parties can gain a better understanding of potential emerging risks. In 2016, we contributed to the following strategic initiatives:
CRO Forum Emerging Risk Initiative (CRO ERI)
The CRO ERI was launched in 2005 to raise awareness of major emerging risks relevant to society and the re/insurance industry.
In 2016, we contributed to the CRO Forum’s Emerging Risk Initiative position paper “Water Risks”.
International Risk Governance Council (IRGC)
The IRGC is an independent organisation whose purpose is to help understand and manage global risks that impact human health and safety, the environment, the economy and society at large. Since its foundation in 2003, Swiss Re has been a partner of the IRGC, and has participated in its initiatives and publications. www.irgc.org