Certainty is the enemy of opportunity, Thierry van Santen, FERMA president, said at the Monday opening of the association's biennial conference. "Risk management is closely linked with uncertainty or trying to limit uncertainty, but what we are not trying to achieve is certainty, because in certainty, there is no opportunity."
"Risk management is an economic issue for companies but it also has a direct impact on individuals. It benefits all stakeholders, including private citizens, because it can result in a reduction of as much as 30% to 50% in fleet motor vehicle accidents, fewer work accidents, down as much as 20% to
40 %, improved fire safety, reduced risk of explosions and safer products.
"The next frontier is to bring risk management to the level of cities and governments. If we could apply the philosophy of risk management to cities and countries, it would improve the cost of running public authorities and reduce taxes." Van Santen added that risk managers now have to think global.