Airbag - steering-wheel continuum: Difference between revisions
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The airbag - steering wheel continuum asks which is your containment device of choice? Where does your risk strategy sits on the spectrum between: “I will conduct my affairs using expert people, with sensible customers, in a prudent manner, with a view to maximising shareholder return in the long run and minimising my exposure to extreme events, sometimes eschewing short-term gains where necessary” — in the terms of this metaphor, a “steering wheel” — and “sod it, I have an ejector seat, let’s bet the house on red” — an “airbag”. | The airbag - steering wheel continuum asks which is your containment device of choice? Where does your risk strategy sits on the spectrum between: “I will conduct my affairs using expert people, with sensible customers, in a prudent manner, with a view to maximising shareholder return in the long run and minimising my exposure to extreme events, sometimes eschewing short-term gains where necessary” — in the terms of this metaphor, a “steering wheel” — and “sod it, I have an ejector seat, let’s bet the house on red” — an “airbag”. | ||
Risk managers: if your first question, at any unexpected turn of events, is “legal, can I close out?”, you are an airbag kind of guy. | '''Risk managers''': if your first question, at any unexpected turn of events, is “legal, can I close out?”, you are an airbag kind of guy. | ||
Employers: | '''Employers''': if you hire risk managers who are airbag fans, ''you'' are an airbag kind of guy. | ||
{{Sa}} | {{Sa}} | ||
*[[Client communications]] | *[[Client communications]] | ||
*[[Insurance]] | *[[Insurance]] | ||
Revision as of 06:57, 24 September 2021
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You only need airbags if you don’t steer straight
The airbag - steering wheel continuum asks which is your containment device of choice? Where does your risk strategy sits on the spectrum between: “I will conduct my affairs using expert people, with sensible customers, in a prudent manner, with a view to maximising shareholder return in the long run and minimising my exposure to extreme events, sometimes eschewing short-term gains where necessary” — in the terms of this metaphor, a “steering wheel” — and “sod it, I have an ejector seat, let’s bet the house on red” — an “airbag”.
Risk managers: if your first question, at any unexpected turn of events, is “legal, can I close out?”, you are an airbag kind of guy.
Employers: if you hire risk managers who are airbag fans, you are an airbag kind of guy.