Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
Quick links:
  • Home
  • The Actuary Issues
  • December 2011
12

70% of firms ready for risks, says Lloyd's report

Open-access content 15th December 2011

A Lloyd’s Risk Index report has found that 70% of businesses believe they are better prepared to tackle the risks they face than they were two years ago...

2

However 3% admitted to being less well prepared.

The report said: "This is a markedly different result from our 2009 survey, when we found 'preparedness gaps' (defined as risks where the preparedness score was not as high as the priority score), in eight out of 41 individual risks, compared with only two out of 50 in 2011."

But it continued: "One should not ignore the fact that, for many companies, there will be a difference between actually being prepared and simply believing that they are prepared.

"But in view of the severity of financial and natural disasters over the past three years, and the rise in practical risk management measures internally, perhaps executives themselves have re-calibrated, for the better, what it means to be prepared."

The survey found that business and strategic risks edged past economic, regulatory and market risks for the top priority spot this year, with scores of 7.3 and 7.2 respectively.

The survey found the top three risks are all business and strategic risks:

loss of customers and orders

talent and skills shortages, and

reputational risks

The next five are all economic risks:

currency fluctuation

changing legislation

cost and availability of credit

price of material inputs, and

inflation


Source: Postonline

This article appeared in our December 2011 issue of The Actuary.
Click here to view this issue
Filed in:
12
Topics:
Risk & ERM
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Pricing Actuary

London (Central)
£95000 - £120000 per annum + benefits
Reference
118966

Senior Longevity Actuary – Reinsurance

London (Central)
£100,000
Reference
118949

Senior Capital Actuary

London (Central)
£90000 - £110000 per annum + + bonus + benefits
Reference
118965
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2020 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited, Level 5, 78 Chamber Street, London, E1 8BL. Tel: 020 7880 6200