Enterprise risk: who knows my business better than me?
Chris Mundy
(Chris Mundy is managing director ART with MMC, responsible for marketing and business planning within MMC Enterprise Risk Europe, and also works on specific non‐standard ART transactions, including contingent liability and cash flow stabilisation products. Chris has worked in all aspects of the retail insurance broking sector, specialising over the last ten years in strategic marketing, business planning and alternative risk transfer.)
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Abstract
The author traces the history and philosophy behind the concept of risk transfer and concentrates on the underlying theory of insurance. He argues that the complexity of the modern business world has meant that the simplicity of the concept has been lost. To this has been added the additional burden of regulation and a greater concentration on risk management. He suggests that the concept of enterprise risk management is the one which cuts this Gordian Knot and describes its benefits in adding value to the enterprise.
Keywords
Citation
Mundy, C. (2001), "Enterprise risk: who knows my business better than me?", Balance Sheet, Vol. 9 No. 2, pp. 12-15. https://doi.org/10.1108/09657960110695295
Publisher
:MCB UP Ltd
Copyright © 2001, Company