Joe Plumeri, CEO of insurance broker Willis group, discusses risk management's biggest challenges and prospects over the next year
By Staff Writer|May 01, 2007 at 08:00 PM
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Pat Wechsler, Treasury & Risk: What do you see as the most important risk that companies face? Plumeri: Although some companies have been inspired to build a culture of shared corporate governance, perhaps the greatest macro risk is that of easing into a state of complacency. If our new millennium has demonstrated one thing, it is that events once deemed too extreme to merit serious consideration must be thoroughly explored through a formal, continuous and rigorous process of evaluation of internal and external risk factors. As for specific perils, the obvious and compelling top nominees continue to be terrorism and natural catastrophe risks. The overarching imperative for companies and governments is managing the associated aggregation risk–ever-growing concentrations of people and physical assets subject to windstorm, flood, earthquake or an act of terrorism.
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