Reason Mag Q1 2014 Seite 45

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into regulations and business ethics For the insurers there is a large amount of regulation and compliance requirements Controls are part of the day job Paul Taylor FM Global taught me the value of loss pre vention and risk mitigation It became a passion of mine and I used it to develop a career as a risk manager The FM Global approach to risk and the training and devel opment is a superb foundation to help busi nesses develop their culture of managing risk Working as a risk manager is a very cre ative opportunity as each organization has a different culture and way of doing business Paul Taylor Having now worked as a risk manager I now empathize with the business on a fun damental level I tried to do this when work ing for FM Global too however when you work within the business your job really only starts at the recommendation It has made me acutely aware of the need to be solutions focused what is going to work in practice If you can do this as part of your business as usual behavior you will be valued by the operations you serve Having rstly worked as an engineer and then as an underwriter it has given me the technical ability to know when to stand my ground and insist we act and when to give ground or nd a different way to address a situation The most important thing though is to truly understand the loss expectancy and let that guide your decision making Andy Bryson TWO S COMPANY CAN A GOOD RELATION SHIP IMPACT THE BOTTOM LINE Changes managed proactively and continu ous risk improvement will help to ensure that the business is robust in the face of materializing threats This will translate into the protection of the revenue generating operations and hence the bottom line Andy Bryson CONFLICTS AND COMPROMISES When there is a difference of opinion over the nature of the risk this can lead to a standoff position which will inhibit risk improvement efforts Con icts can occur over coverage price or risk engineering The insurer and risk manager are aligned in that both are trying to minimize the likelihood or severity of a loss impacting their business Andy Bryson The insurer naturally wants a fair price for the transfer of risk and some assurance of the quality and size of the risks being underwritten This creates a natural tension between the two parties A risk manager who s worked for FM Global and is familiar with the underwriting concerns the techni calities of reinsurance the complex policy wording and technical jargon is able to engage in an effective dialogue and reach a mutually agreeable consensus quicker Another important area is the loss preven tion requirements requested for a proper underwriting of the risk by the insurer A good knowledge of loss prevention tech niques is a major advantage Pierre Sonigo Con icts are usually the result of misinfor mation on one or both sides At the end of the day an insurance policy is an imperfect document relying on unwritten rules and practices which naturally leads to con ict Having the bene t of knowing both sides helps reduce the misunderstandings and manage the con icts more professionally Hervé Borel ISSUE 1 2014 Reason 45