Airbag - steering-wheel continuum

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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.

See also

• Client communications
• Insurance