A perfect fit

The recent banking crisis has reinforced the importance of risk management. That was the message from Lloyd’s Chief Executive, Richard Ward, in a recent video to members of the UK Association of Insurance and Risk Managers (AIRMIC).

Speaking as the first guest of the newly launched AIRMIC Vision, the association’s web-based TV channel, Ward said Lloyd’s and AIRMIC are a perfect fit for managing such risks.

“AIRMIC is a very important partner for Lloyd’s,” he said. “It is the premier organisation representing risk managers and we are the premier place to manage your risk. As a subscription market, when risk is placed with Lloyd’s it can be spread among many underwriters, meaning it can be exposed to their individual balance sheets.”

He added that what differentiates the Lloyd’s market from its competitors is its ability to accommodate unusual and difficult to price risks as well as ordinary risks, and its ability to identify, analyse and understand emerging issues.

“Our 360 Risk Insight thought leadership work is a real differentiator for the Lloyd’s market,” he said. “It is continually bringing new risks and issues to the fore, creating debate and discussion, and helping people understand what the risks of the future are and how they can manage them.

“Lloyd’s thought-leadership is encouraging debate so members of the market – and those outside the market – can benefit.”

Click here to view Richard Ward’s interview with AIRMIC Vision in full.