Risk Management

The criticalness of managing risks

The on-going riots and labour disruptions in the platinum industry is causing South African businesses to continually feel the impacts of strikes, which is damaging economic growth, and in turn negatively impacting local businesses within…
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Theft sparks need for risk strategy

Marsh Africa’s Realty division, which insures property assets of more than R100bn in South Africa,reports an increase in cable theft and other steels used in the construction of buildings off various sites. Rodney Osborne, Associate Director & Divisional Executive for Marsh Reality Practice, reports that Marsh alone has received three claims in recent months
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Latest celebrity hacking lesson

The recent release of nude pictures of over 100 celebrities, including Jennifer Lawrence, Kate Upton and Kirsten Dunst, has raised questions over the security of personal information being stored in cloud internet services as hackers…
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Where will the next hammer blow fall?

Equating the failure of Ellerines to a heart attack is most apt! It strikes anywhere, anytime and usually without warning – often with fatal consequences. It is very unlikely that even a soothsayer or fortune teller would have foreseen the demise of Ellerines.
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A rise in hacking, a greater need for protection

The month of August alone has seen two of the most significant cases of cybercrime including the world’s largest cybercrime hack to date, whereby a Russian crime ring hacked over 1,2 billion usernames and passwords, as well as 500 million email addresses. Following this, the theft of the names, Social Security numbers, physical addresses, birthdays and telephone numbers of 4.5 million patients was stolen from US-based Community Health Systems on 18 August, compromising the privacy of the patients and putting them at great risk for identity fraud.
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IRMSA pilot board exams

The Institute of Risk Management South Africa will be rolling out its pilot board exam on 25 November 2014. This certification will ensure that Risk Managers have the necessary competence and knowledge required of them in their respective roles.
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Qualitative to quantitative risk management

The approach to risk management is on the cusp of a shift towards a more unified slant from the traditional process-driven and qualitative focus. This looked good on paper however the reality that was ignored is the minefield that is human fallibility, which leads to an acceleration of potential risk incidents. The combination of qualitative and quantitative risk management allows for less of a static process and a more continuous re-evaluation throughout.